Moshi Monster creator Mind Candy reveals record revenues
Wednesday 02 October 2013
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.
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