The sharp upward trend in the number of gamers has created a new gaming sensation, Playrix. Founded by two brothers, Igor and Dmitry Bukhman, Playrix became the world’s second-biggest gaming company by mobile revenue reports AppAnnie. The company now ranks just after Asia’s most valuable company and one of the biggest gaming and entertainment conglomerates Tencent Holdings Ltd. The blooming Gaming Industry has found yet another big name in Playrix.
With this, both the founding brothers have more than doubled their wealth and are now worth $3.9 billion each, according to the Bloomberg Billionaires Index.
Playrix Holding Ltd., also known as Playrix Entertainment and Playrix Games. It is an international developer of free-to-play mobile games from Russia but headquartered in Dublin, Ireland. It was founded in 2004.
In 2013, Playrix launched its first free-to-play game Township, followed by Fishdom: Deep Dive in 2015, Gardenscapes in 2016, Homescapes in 2017, etc. In September 2016, the company became the highest-grossing mobile game developer in the CIS and Baltic states region according to App Annie.
Playrix has now become Tencent’s Biggest Rival but there is a catch
While Tencent remains the world’s gaming leader and its chairman, Ma Huateng is also known as Pony Ma, is worth about $52 billion. These two brothers from Playrix are now being considered as the biggest rival to Tencent. They were able to jump from number 7 to number 2 in a span of two years, which is considered remarkable. They were able to surpass companies like Activision Blizzard and NetEase.
In 2018, Tencent was on top followed by NetEase and Activision Blizzard, according to AppAnnie. The end of August 2019 saw Playrix entering the top 3 companies by mobile games revenue. According to App Annie, parent companies are made up of a number of subsidiaries, and therefore App Annie reports results at the highest level. That is the reason why major companies are ranking lower than Playrix. If we take the data from 2019, Playrix was the 6th largest company worldwide by revenue. However, if you break this down to a subsidiary company level, Playrix was ranked 3rd Worldwide. This is how Playrix became the world’s second-biggest gaming company.
Note: The list by App Annie takes into account annual revenue for all of 2018 across both the App Store and Google Play, including revenue from paid downloads and in-app purchases but not from in-app advertising or subscriptions outside the app store.
In an interview last year, the founders expressed their feelings of taking their company to be in the same league as giants such as Activision Blizzard Inc. and NetEase Inc. Also, Top-tier investment banks have also encouraged Playrix to merge with a bigger company or list on a stock exchange, but Dmitry cleared that there is no deal on the table. The brothers aren’t ruling out those options in the future, though, he added.
What is your take on the reports of Playrix becoming the world’s second-biggest gaming company by mobile revenue? Mention your thoughts in the comments below!