Roblox Corporation is a California-based gaming company and the publisher of free-to-play online gaming platform Roblox. Roblox allows users to program colorful game worlds and play games created by other users. Initially released for PC in 2006, the platform is also available for mobile devices and Xbox One. Roblox parent company Roblox Corporation filed to go public in November 2020 and started trading on March 10, 2021. The IPO created headlines as the company’s stock closed at a first-day market cap of 38.26 billion U.S. dollars, ahead of gaming industry heavyweights Ubisoft and Take-Two Entertainment.
Roblox users are highly engaged and young audiences
The creative possibilities of the user-generated games on the Roblox platform are appealing to many gamers, especially children and young teenagers. With this target audience, the platform also makes a point to address parents and highlights the ways in how it ensures that Roblox is a safe online environment for children, especially as gaming usage and screen time increased during the global coronavirus pandemic. Roblox has become a popular digital hangout platform for children in the United States, with the company stating that over half of U.S. kids and teens aged 16 and under were playing the game as of July 2020.
In 2021, Roblox Corporation generated a total revenue of over 1.9 billion U.S. dollars, up from last year's annual revenue of 923.89 million U.S. dollars. The company generates almost all of its revenue through the sales of virtual currency, Robux, which players can use to purchase virtual items sold by the Roblox developer and creator community on the platform.
Developers and creators can generate earnings via Robux: microtransactions in their experiences, engagement-based rewards, and by selling virtual items. Robux can be exchanged for real-world currency through a Developer Exchange Program. As of September 2020, Roblox Corporation reported that only three developers or creators using Roblox games were rewarded over 10 million U.S. dollars. In comparison, over 962 thousand Roblox games developers or creators were not rewarded at all.
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