Jagex Reports "Record Performance" For 2016, Revenues Up 28%
Jagex announced today that 2016 was a year of "record performance" for it. The company saw a 28% increase in revenues year-over-year, totaling £74.4 million in revenues. Profits after tax increased to £28.8 million. For comparison, the company's 2015 revenues totaled £57.9 million, whereas its 2014 revenues totaled £44.9 million.
Jagex attributes its success this year to investment in RuneScape and Old School RuneScape. This past year marked RuneScape's 15th year online and saw the game reach the 250 million registered player milestone. The NXT client was introduced for RuneScape, also known as RuneScape 3, and The Eastern Lands marked the addition of a significant amount of new content.
Just last month, Jagex's owner ZhongJi Holding changed its name to Fukong Interactive Entertainment. In going with the change, Jagex has begun "its transformation into the western arm of a global gaming group." To signify the transformation, Jagex has a new logo, which can be seen above.
Jagex COO and acting CEO Phil Mansell had the following to say about the announcement.
2016 saw RuneScape celebrate its 15th anniversary and we placed a razor focus on evolving and growing both RuneScape and Old School RuneScape. Through investment in big ticket content, technology, marketing and strengthening the relationship we enjoy with millions of players that form our deeply-engaged community, the team delivered landmark performance by growing active users, conversion rates and subscribers.
It was also a year in which Jagex was united with Fukong Interactive Entertainment, previously named ZhongJi Holding, and began its transformation into the western arm of a global gaming group. Flourishing under this new ownership, Jagex has increased funding toward in-house projects and is exploring opportunities to invest in complementary ventures.
With a 16-year world class reputation for running free-to-play games in live operations, Jagex is now building a pathway for franchise extension, innovation and creativity. We will continue to invest in our live games, which includes the introduction of Menaphos: The Golden City, the first in a series of major expansions for RuneScape. We will also capitalise on Old School RuneScape’s increased popularity with content and marketing, including the expansion of its successful competitive gaming event programme. In addition to the live titles, we are looking to expand the franchise to new devices and titles, while also investing in developing original IP to reach new audiences.
