“This is the first time in ten years that this has happened”: Clash of Clans and Squad Busters developers report record success in 2024

Bloomberg noted that Tencent-owned Finnish studio Supercell (Clash of Clans, Clash Royale, Brawl Stars) reported significant financial success for 2024.

Image source: Supercell

As it became known, Supercell’s revenue in 2024 amounted to a record $3 billion, which is 77% better than the results of 2023. Profit increased by 78% and reached $947 million before interest, taxes, depreciation and amortization.

According to Supercell founder and CEO Ilkka Paananen, all of the company’s games-as-services without exception showed growth in 2024: “This has happened for the first time in ten years.”

Bloomberg notes that Supercell’s success is notable against the backdrop of difficult times for the mobile market. According to Sensor Tower, the segment will grow to $80.9 billion in 2024 (+4% compared to 2023), but will not break the records of 2021.

In 2024, Supercell launched Squad Busters, an online mobile action game where users need to collect gems to win the match. In the first seven months, the game generated more than $100 million in revenue.

«Companies need to look in the mirror and ask themselves why they have failed to bring new, innovative games to market. The only way to do that is to take more risks,” Paananen said.

Amid widespread layoffs in the gaming industry, Supercell’s headcount has grown by 31% to 686 employees since 2023. Paananen noted the importance of hiring and developing talent that reflects the diversity of gamers.