King celebrates 9% year-on-year increase in net revenue | Pocket

King Continues to Shine with Candy Crush

King, a subsidiary of Activision Blizzard, has once again proven its success with their flagship game Candy Crush, according to the company’s recently released Q2 2023 financial report. Mobile devices played a significant role in Activision Blizzard’s net revenue, accounting for 41% of the total. In this article, we’ll explore King’s performance in greater detail.

The report highlights King’s achievement of another quarterly net booking record, with a 9% year-on-year increase in net revenue. The continued success of Candy Crush, including its impressive live operations and user acquisition, contributed significantly to this growth.

However, the game’s operating income saw a slight decline compared to the previous year. This decrease is attributed to increased marketing investment. The report suggests that this investment will lead to future growth in operating income.

Candy Crush experienced a 10% year-on-year growth in net booking, along with substantial advancements in downloads and player investment. One of the factors driving this growth was the game’s latest All Stars tournament, which featured contestants from multiple continents. This tournament also contributed to a year-on-year increase in player numbers.

Furthermore, Candy Crush extended its position as one of the USA’s top-grossing mobile franchises for the 24th consecutive quarter, solidifying its status as a major player in the industry.

Mobile Success and AI Technology

Peltarion, an AI technology company acquired by King in June 2022, played a significant role in King’s success in Q2. With Peltarion’s machine learning technology, King was able to enhance the production and testing of Candy Crush’s live operations. It also enabled the company to provide players with more relevant content. King is currently exploring the integration of generative AI to further streamline development processes.

King also experienced substantial year-on-year growth in its advertising business. The company successfully targeted new verticals and introduced new advertising formats, leading to growth in both direct brand advertisers and partner networks.

In conclusion

King’s impressive performance, fueled by the continued success of Candy Crush and the strategic acquisition of Peltarion, highlights its position as a leading player in the mobile gaming industry. With a focus on innovation and mobile growth, King is poised for further success in the coming quarters.