Roblox is often described in shorthand as ‘the YouTube of games’ – signifying that it’s not just a game, but rather a platform where people can create and share their own games, and play those made by the rest of the community. It’s also enormously popular with children – one of the tentpole tween/teen gaming brands alongside Fortnite and Minecraft.
Roblox is also very popular with investors: it has just announced a $150m funding round led by Andreessen Horowitz’s Late Stage Venture fund, taking its total raised so far to $335.7m. Tencent Holdings Limited also participated in the new round, while Roblox is also planning a ‘tender offer’ for up to $350m of shares.
“The financing comes as Roblox continues to experience significant growth, having recently reached 115 million monthly active users and more than 1.5 billion hours of monthly engagement,” announced the company. That user figure is up from 100 million in August 2019.
In his recent keynote at the NY:LON Connect conference, WMG’s Scott Cohen encouraged the music industry to pay more attention to Roblox. “There’s over 100 million monthly active users on this platform, and almost nobody in this room has ever heard of it? This is where the target audience is!” he said.