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Angry Birds boss quits as profits slump

The boss of Rovio, the makers of best–selling mobile game Angry Birds, has announced that he is leaving his role as Chief Executive, after the company saw its profits take a nose dive.

Mikael Hed said he would leave the gaming company in January next year, his position being taken up by former Nokia staffer Pekka Rantala, who joined Rovio earlier this year.

Rovio’s profits dropped by a massive 52% in 2013, down to €26.3 million. That was despite revenue increasing from €152.2 million to €156 million in the same year. Half of the revenue is said to have come from licensing deals for Angry Birds clothing and toys.

Rovio has been criticised for failing to release new games, instead focusing on new versions of Angry Birds, which essentially use different themes with identical gameplay. Falling profits suggest gamers have become tired of the product and have turned to other titles for their fix of casual entertainment.

This has been backed up by the rise of other gaming developers in the mobile space, such as Supercell and GungHo Online Entertainment.

Neither Hed or Rantala have commented on the changes, which will hopefully herald a series of new Rovio games in 2015 and beyond.

Read more: Swing Copters – 8 mobile games you really should be playing

Via WSJ

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