Candy Crush in decline as King shares fall by 20%
The hit app creator King released a statement on Tuesday reporting a fall in shares of up to 20% highlighting the decline in Candy Crush a major contributing factor. Considering that Candy Crush is responsible for 60% of King’s overall gross profits, any slight decline in the game will severely influence the companies overall stature.
It is reported that King Digital Entertainment is expected to make between $2.25bn – $2.35bn from in-app purchases compared to a previous estimate of $2.55bn – $2.65bn. Share prices have also decreased dramatically going from $22.50 in March when the company went public, to $18.20.
It was recorded last year that 97m people were using Candy Crush on a daily basis; this was at the height of the apps popularity, so realistically this slump would have been foreseen. King’s latest apps like Farm Heros Saga and Bubble Witch would have been released to help rectify this decline, however they’ve failed to create an impact on the same level.
King expect Candy Crush to have a long and steady tail which will hopefully see the app live long on into the future, however they risk the same fate as other manufactures if this fails.