Licensing success boosts Mind Candy revenues

MCV Staff 3rd October 2013 Business News

Moshi Monsters creator Mind Candy saw revenues climb by 62 per cent in 2012 to 47m.

Profit for the period was flat at 10m. The Financial Times reports that the success was thanks to the company’s many licensing deals. User numbers for the site also grew from 55m to 70m, with subscriptions and membership generating 19.8m.

However, that revenue jump down from the 400% increase enjoyed in 2011 – a period when profits increased by a factor of 30.

2012’s licensing numbers in isolation saw revenue increase from 9.7m to 19.3m, with games revenue climbing from 3.7m to 7.7m and Moshi Magazine claiming the title of best-selling monthly UK children’s magazine.

Founder Michael Action Smith says he is now targeting growth in non-English speaking markets.

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