By Sagar V. Mankar 
Finnish mobile game developer Supercell reported record revenue of $3 billion in 2024, with its games reaching over 300 million monthly active players globally.
The company’s remarkable growth was fueled by the success of its entire game portfolio, as CEO Ilkka Paananen noted that all live titles showed increased sales for the first time since 2014.
The company highlighted Brawl Stars‘ performance. Even after six years, it has emerged as the fastest-growing mobile game of the year, breaking into the top 10 grossing games globally.
Squad Busters, their newest release from May 2024, made more than $100 million in revenue during its first seven months. However, Paananen noted that the game did not meet the expectations, highlighting the challenges of launching new games in today’s market.
As per the detailed financial statements, the company’s revenue without deferrals (non-GAAP) jumped from €1.57 billion in 2023 to €2.78 billion ($3 billion) in 2024. When accounting for deferrals, the revenue increased from €1.7 billion to €1.94 billion ($2 billion).
Earnings before interest, taxes, depreciation, and amortization (EBITDA) also saw an increase, reaching €876 million ($902.7 million) from €492 million the previous year.
The company’s growth isn’t limited to just revenue figures. Supercell has significantly expanded its workforce, now employing 686 staff members – a 31% increase from 2023.
Supercell is also developing new titles, including the monster hunting game mo.co and the action RPG roguelite Project R.I.S.E.
Despite Squad Busters’ performance, the company has no plans to abandon the game. Paananen emphasized the importance of taking risks and learning from failures, recalling how Brawl Stars almost didn’t launch but succeeded after a 500-day beta period. He stated, “We do not want to become a company that is so tied up with success that we don’t dare risk failure.”
In 2024, the company launched the Spark incubator to nurture new talent, both internally and externally. Through this program, 30 developers participated, forming five new game teams. Paananen noted that external ideas bring “different creativity, hunger, and ambition” without the burden of previous successes.
The Acquisition of Space Ape Studio Completed
To strengthen its presence in the UK market, the company has completed a 100% acquisition of Space Ape studio, which will now serve as the foundation for Supercell’s London office.
Following the Space Ape acquisition, Supercell has initiated discussions with other studios to transfer Space Ape’s existing game portfolio. This move aligns with their commitment to maintaining service for current players which include Chrome Valley Customs, Fastlane: Road to Revenge, and Transformers: Earth Wars.
The London office, which currently employs approximately 100 staff members, will focus exclusively on Supercell games, including both live titles and new development projects.
Speaking of Space Ape’s legacy, it’s worth noting that its co-founder Simon Hade has established a new studio called NextBeat, which has taken control of Space Ape’s music-focused games like Beatstar and Country Star. This new venture is backed by Supercell, displaying the company’s continued investment in diverse gaming ventures.