Supercell Oy, the Finnish gaming firm known for popular titles like Brawl Stars and Clash of Clans, is achieving significant success for its parent company Tencent Holdings Ltd., even in a tough mobile gaming market. According to Supercell’s report on Tuesday, its six games brought in nearly $3 billion in sales in 2024, marking a 77% increase from the previous year. Earnings also rose substantially to over $900 million before accounting for interest, taxes, depreciation, and amortization. Finnish law mandates that the company report its financial results annually.
“All of our active games saw growth last year,” stated Chief Executive Officer Ilkka Paananen in an interview. “This is the first time we’ve observed this in a decade.”
This growth occurred amid a challenging period for the $81 billion mobile gaming sector. Although industry sales increased by 4% last year, they still fall short of the peak levels reached in 2021, as reported by analyst firm Sensor Tower. Downloads have been on a decline since 2021, partly due to changes made by Apple Inc. that complicated the process for developers to attract new users. Supercell became a Tencent subsidiary in 2019.
The newly launched title, Squad Busters, which involves players collecting gems to win matches, generated over $100 million in revenue within its first seven months. Supercell’s free-to-play model profits from players purchasing digital items like character skins and avatars.
Paananen emphasized that gaming companies should focus less on marketing and more on fostering culture and innovation. “Firms need to reflect on why they haven’t succeeded in launching new and innovative games,” he remarked. “Taking more risks is essential for that.” The 2018 game Brawl Stars, set in a fictional amusement park where players engage in battles, reportedly earns around $36 million a month, according to Sensor Tower. In contrast to widespread layoffs within the industry, Supercell has expanded its workforce to 686 employees, a 31% increase since 2023.
Paananen noted, “For many gaming CEOs, their products are defined by the games their companies create. For me, however, my product is the people and the organization.” He believes a crucial aspect of this is hiring and nurturing talent that mirrors the diversity of gamers. “Involving individuals with varied perspectives and backgrounds leads to better decision-making,” he said. “This approach ensures that we meet the global desires of players.”
