The craze around Candy Crush Saga has died down a bit (we blame Flappy Bird), but the title remains a cash cow for publisher King. Just how much money did the puzzle game rake in last year? With the claim that Candy Crush accounted for 78 percent of King’s almost $2 billion in gross bookings in 2013, the game alone was responsible for over $1.5 billion in revenues.
The numbers were revealed as King prepares to make its debut on the US stock market. The publisher made its financials known in an IPO filing earlier this week. King is valued at as much as $5.5 billion, and hopes to raise $500 million during its initial sale of stock. Reaction to the news has been tepid, however. With such a large percentage of income dependent on Candy Crush, King’s success is tied directly to the game. Current popularity will likely result in a high initial offering, but investors are cautioned of limited upside.
Many fear a Zynga-like collapse for King if it is unable to produce additional games that can match Candy Crush’s monster earnings. Zynga launched its IPO on the success of FarmVille, but share prices continually fell, never surpassing the value of the original offering. The company has since faced significant downsizing.
[via The Guardian]
TAGS: Candy Crush Saga, King