Looks like the once highly viral Angry Birds game is losing its fizz. Rovio, the company that owns all Angry Bird properties, says that its operating profit has fallen by 73 percent last year, Reuters reports.
The company announced that in 2012 their operating profit was as high as 76.8 million, and has been falling ever since with 36.5 million in 2013 to as low as 10 million in 2014.The decline in business has been attributed to businesses like toys, clothing and brand licensing failing to pick up.
The other related Angry Birds games have also failed to take off like the first Angry Bird game that was released by Rovio in 2009. The company has been trying to revive the frenzy with new games like Jolly Jam and Angry Birds Stella Pop!, but that hasn’t really helped in achieving the peak it had hit in its early years.
“Sales of consumer by-products did not move according to expectations, and surely we are unsatisfied over the result of our licensing business,” chief executive Pekka Rantala told the publication.
The new games did help in gaining a little revenue though, and mobile game earnings increased by 16 percent to 110.7 million euros, as total downloads reached 600 million. However, total sales fell 9 percent last year to 158.3 million euros.
Rovio is planning to come out with an Angry Birds movie in 2016, and the company is hopeful that this will revive business, as strategic tie-ups are expected through 2015.