Jagex reports another record financial performance

Ben Parfitt
Jagex reports another record financial performance

Runescape developer Jagex has reported record revenues for the second successive year.

The company generated £74.4m in the year ending December 31st, beating the then record-breaking £57.9m total from the year before by some 28 per cent. Profits grew 21.5 per cent at £28.8m.

Jagex has also announced a rebrand, fronted by the new logo you see above.

The company was last year acquired by Chinese investors.

“Through investment in big ticket content, technology, marketing and strengthening the relationship we enjoy with millions of players that form our deeply-engaged community, the team delivered landmark performance by growing active users, conversion rates and subscribers,” CEO and COO Phil Mansell said.

“Flourishing under this new ownership, Jagex has increased funding toward in-house projects and is exploring opportunities to invest in complementary ventures.”

Underpinning this success is Runescape, which in 2016 entered its 15th year and welcomed its 250 millionth player. The game was also boosted by a brand new engine and client, giving the visuals a big boost.

Also successful, however, was Old School RuneScape, which is an authentic recreation of the game’s early days.

“With a 16-year world class reputation for running free-to-play games in live operations, Jagex is now building a pathway for franchise extension, innovation and creativity,” Mansell added. “We will continue to invest in our live games, which includes the introduction of Menaphos: The Golden City, the first in series of major expansions for RuneScape.

“We will also capitalise on Old School RuneScape’s increased popularity with content and marketing, including the expansion of its successful competitive gaming event programme. In addition to the live titles, we are looking to expand the franchise to new devices and titles, while also investing in developing original IP to reach new audiences.”

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Tags: jagex , Market Data

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