Colourful monsters continue to prove big business for Mind Candy, with the firm’s Moshi Monster characters becoming the most-licensed property in the UK and revenues at the firm jumping by more than 60 per cent.
The Old Street-based firm behind online kids game Moshi Monsters revealed that revenues rose to £46.9 million in 2012, up from £28.9 million a year ago. Users of the flagship game, a virtual world where children control their own pet monster, also increased from 55 million to 70 million.
Revenues from licensed products hit £19.3 million, up from £9.7 million in 2011, as the Moshi Monsters brand became the number one licensed property in the UK. Profit increased only slightly to £10 million, up from £9.8 million a year earlier, as administrative costs increased.
Mind Candy, run by Michael Acton Smith, is one of several internet firms considered ripe for flotation, and Soho-based King, the studio behind hit game Candy Crush, has reportedly started IPO proceedings in the US.