An online game that immerses players in worlds that they and other players create has just hit a record number of users – and an all-time record for hours played.
Roblox announced its financial results for the period from January to March this year on Thursday and reported that it increased the number of daily active users to 77.7 million, which is 17% higher than it was at the same time last year.
The number of hours players spent actively playing the game also increased, by 15%, to 16.7 billion hours during those three months.
Roblox Signup Page. Photo Credit: Gabby Jones/Bloomberg via Getty Images
Roblox also reported an average of 15.6 million unique paying customers per month, up 13%, and noted that each customer pays close to $20, or exactly $19.68, a 6% increase.
However, the company says it is “hard at work” to push growth even higher, BACK up 20% year-on-year from the previous quarter.
“We started experimenting with changes to our AI-driven discovery algorithm and the positioning of different types of content on the homepage,” said Roblox founder and CEO David Baszucki. “We re-introduced events across the platform as The Hunt: First Edition. And, we continued to improve the quality and performance of our app and experiences.”
Roblox stock was down 23% after the earnings announcement, the worst decline in more than two years.
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Roblox has seen tremendous growth since its launch in 2006, but what exactly is the platform to someone who has never played? And why is it so popular?
What is Roblox?
Roblox is a free 3D gaming platform that allows users to play games created by other users or make their own with friends. They can also talk to their friends through chat while playing a game.
People role playing games on Roblox include Brookhaven RPthat takes place in a city, and High Royalea school themed game.
Roblox is gone PUBLIC in 2021.
What is Robux?
Robux is the digital currency used in Roblox. Although the game is free, players can purchase Robux to upgrade their avatars, unlock special features, and access certain games.
Players can buy Robux from Roblox website or through a gift card.
$0.99 equated 80 Robux.
Why is Roblox so popular?
Roblox was the first releasing in September 2006, making the game older than most of its users. Regarding December58% of Roblox players were under 16, with one in five users under 9.
The game had 13.5 million users since 2012.
The rise of YouTube and game streaming catapulted Roblox into the mainstream in 2017 as a YouTuber and broadcaster registered themselves playing the game to large audiences.
Pandemic may have Further Roblox's reach, especially with younger audiences.
An early Roblox game trailer from November 2006 shows how far the game has come in 17 years.
How does Roblox plan to continue growing?
of MAJORITY of Roblox users are children or teenagers, but the company is working to expand its user base, to CNN.
Wall Street analysts told the publication that Roblox needs to show new sources of revenue growth.