Rovio bets big on his new movie adapted from his hit video game Angry Birds

This film will not be in competition at the Cannes Film Festival which opens this Tuesday, but "The Angry Birds Movie 2" is of vital importance for the Rovio group. The Finnish publisher put a lot on the second volume of his cartoon, adapted from his mobile video game to success, to give a little air.

This sequel was presented Monday by Sony before that begins the festivities on the Croisette. Released in the summer of 2016, "The Angry Birds Movie" generated $ 352 million in movie revenue for an estimated production cost of $ 73 million.
according to the calculations of Box Office Mojo.

At the time, Rovio had produced and directed the film, while the development (computer graphics) and distribution had been the work of Sony Pictures. The Finnish publisher and the latter have renewed their collaboration for this new version that will land in theaters in August.

Strong dependence on Angry Birds

An exit that will be scrutinized closely by the financial markets. The 2018 financial year was tough on the stock market for the company listed on the Helsinki market. At the end of last year, the share reached its historic low, at less than 300 million euros of capitalization. That's three times less than his record in mid-2017.

The reason ? The group saw its annual revenues decrease by 5% to 281.2 million euros. But at the same time, it managed to improve its profitability by recording a net profit of 24.5 million by reducing its operating expenses in particular. Especially the payroll.

The financial markets have mainly focused on the half-empty glass, worried about the strong dependence of the group on its flagship franchise, Angry Birds (which accounts for 86% of its revenues) that the group declines in every way (games, movies , amusement park, etc.). At the risk of spinning it.

Rovio anticipates up to 330 million in revenue in 2019

But Rovio has little choice; he never succeeded in repeating such success with another of his licenses. Downloaded more than 4 billion times in almost ten years of operation, Angry Birds mobile games no longer display the same performance as their glory days, but remain popular.

During the first three months of the year,

    Rovio saw its turnover increase by 7.8% (to 70.9 million euros) over one year, thanks to the vitality of its catalog of titles Angry Birds and the good start of the last version (Angry Birds Dream Blast). Rovio also argued that it anticipates an annual turnover of between 300 and 330 million euros. Which would be his best historical performance.

Indications that reassured the markets. Since the beginning of the year, the price has resumed a little altitude on the stock exchange, showing an increase of 46%. A bullish trend that will only continue if "The Angry Birds Movie 2" finds its audience in theaters.

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