There were some slightly worrying signs for gaming firm Roblox last year: falling user numbers and revenues, and a declining share price during what analysts called a “corrective year” for the games industry.
But now: a return to growth. Roblox’s latest financial results show that its revenues were up 2% year-on-year to $579m in the final quarter of 2022, while bookings (the separate metric covering user spending on virtual currency) were up 17% to $899.4m. Meanwhile, Roblox’s daily active users grew by 19% to 58.8 million by the end of 2022.
The markets certainly approved: Roblox’s share price jumped by more than 26% after the financials were announced, giving the company a market cap (valuation) of $27.08bn. That’s still a long way down from its peak of $77.98bn in November 2021, mind.
Roblox continues to be a platform for experimentation by the music industry: Swedish artist Theoz, WMG’s Rhythm City and Mariah Carey’s Winter Wonderland are three of the most recent examples, along with Elton John’s high-profile ‘Beyond the Yellow Brick Road‘ experience.
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