Finnish company Supercell Oy, which created such global hits as Brawl Stars and Clash of Clans, has delivered a significant increase in financial performance for its parent company Tencent Holdings despite the difficulties in the mobile gaming market, Bloomberg reports.
In 2024, Supercell's six games generated nearly $3 billion in revenue, up 77% year-on-year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) exceeded $900 million, which was also a significant increase. In accordance with Finnish law, Supercell publishes its financial results annually.
“Every single one of our live games actually grew last year,” said Ilkka Paananen, CEO of Supercell. “That’s the first time that’s happened in 10 years.”
Supercell's success comes at a challenging time for the $81 billion mobile gaming industry. According to Sensor Tower, industry sales grew by 4% in 2024, but remain below the peak of 2021. The number of downloads has been declining every year since 2021, partly due to Apple's privacy updates, making it difficult to attract new players. Despite these challenges, Supercell, which became a subsidiary of Tencent in 2019, continues to outperform the market.
One of the main components of this success was the game Squad Busters 2024, in which players collect jewels to win. It generated more than $100 million in revenue in the first seven months. Like other Supercell games, Squad Busters operates on a free-to-play model, earning money through the sale of digital items such as skins and avatars.
The sustained success of Brawl Stars, released in 2018, also contributed significantly. The game, where users compete in a fictional amusement park, now brings in about $36 million monthly, according to Sensor Tower.
Paananen attributes the company's success to its focus on culture and innovation rather than marketing. “Companies need to look in the mirror and ask why they haven’t been able to bring new, innovative games to the market,” he said. “The only way they can do it is take more risks.”
Supercell also increased its headcount, reaching 686 employees in 2024, up 31% year-on-year, despite waves of layoffs in the industry.