Fortnite Made Epic Over $9 Billion by 2019, Documents in Apple Court Case Reveal

Must read

How to disable and delete Samsung Pay from your Galaxy phone

When it comes to paying conveniently, Samsung Pay makes using your phone as a bank card an easy process; however, there may come...

iOS 14: How to Add Widgets to Home Screen

iOS 14 is available for iPhone 6S and newer iOS devices. Apart from a slew of new features like choosing your default...

How to sideload any application on Hisense smart TVs

Televisions, streaming sticks, and set-top boxes with Android TV have access to millions of applications through the Google Play Store. However, there are...

Happy 4th Birthday, Google Duo! May you live to see the 5th one 😒

Google Duo is celebrating its fourth birthday today; well, technically it was yesterday, but weekends don't count in the summer. While it couldn't throw...
Bhawani Singh
I am a blogger who believes in delivering latest tech news from around the world to my viewers.

Fortnite was released in 2018 and the game made over $9 billion, or over Rs. 66,448 crore in its first two years, according to Epic’s financial documents as revealed in its court case against Apple. Epic and Apple are currently in a court battle over App Store practices and regulations. As part of the court battle, new financial documents have been made public that show along with revenue generated by Fortnite that Epic was predicted to bring in gross revenue of $3.5 billion (roughly Rs. 25,855 crores) in 2020, but it reportedly made over $5 billion (roughly Rs. 36,898 crores).

Epic had filed a court case against Apple for the latter’s App Store policies requiring developers to give up to a 30 percent cut to the Cupertino giant. Now, new financial documents from Epic have surfaced in court as reported by The Verge, and these reveal the developer and digital game store’s earnings from 2018 and 2019. Epic’s biggest asset – Fortnite – brought in over $5.4 billion (roughly Rs. 39,900 crore) in its first year (2018) and over $3.7 billion (roughly Rs. 27,340 crore) in the next year taking the total to over $9 billion (roughly Rs. 66,448 crores). Its other games brought in $8 million (roughly Rs. 59 crores) in 2018 and $100 million (roughly Rs. 738 crores) in 2019.

Fortnite is Epic’s biggest property which can be clearly seen in the financial documents. It includes a free-to-play battle royale game mode that is the most popular among the three modes. It offers a host of cosmetic in-app purchases such as character and weapon skins, glider skins, and more. Epic’s development engine brought in $124 million (roughly Rs. 915 crores) in 2018 and $97 million (roughly Rs. 716 crores) in 2019. The Epic Games Store brought in $2 million (roughly Rs. 14.76 crores) in 2018 and saw significant growth in 2019 bringing in $233 million (roughly Rs. 1,720 crores).

Epic’s gross revenue in 2018 was $5.6 billion (roughly Rs. 41,343 crores) which reduced by 25 percent in 2019 to $4.2 billion (roughly Rs. 31,007 crores). As per the prediction for 2020 in the document, Epic was said to bring in $3.5 billion. However, a tweet by a New York Times writer reporting about the Epic vs. Apple case cites Tim Sweeney, Epic’s CEO, claiming the company made $5.1 billion (roughly Rs. 37,674 crores) in revenue in 2020.

As for Fortnite on the App Store, the game released on iOS in 2018 and earned around $1 billion (roughly Rs. 7,387 crores) of which 30 percent had to be paid to Apple, according to the New York Times writer. The game was removed from the App Store in August 2020 for introducing its own billing system, and at the time, there are no signs of it returning. In November last year, Apple reduced the App Store commission rate to 15 percent for developers who earn up to $1 million (roughly Rs. 7.38 crores) in annual sales per year from all their apps.

Is Mi 11X the best phone under Rs. 35,000? We discussed this on Orbital, the Gadgets 360 podcast. Later (starting at 23:50), we jump over to the Marvel series The Falcon and the Winter Soldier. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Source link

More articles

Leave a Reply

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

- Advertisement -

Latest article

How to change your iPhone’s default browser

Your iPhone's browser doesn't need to be set in stone.  It was only in Sept. 2020 that Apple released iOS 14, and with it...

Nintendo Rides Switch Sales During Lockdowns to Post Record Pandemic Profit

Nintendo reported its highest ever annual profit Thursday after virus lockdowns caused sales of its blockbuster Switch console to soar, but the Japanese...

DJI Pocket 2 review | TechRadar

Two-minute reviewThe DJI Pocket 2 clearly wants to be the steady-cam option for vloggers and casual filmmakers. It’s never going to win over...

Best WhatsApp alternatives in 2021

WhatsApp’s May 15 deadline for accepting its controversial privacy policy update is upon us, and the deal is simple – accept it or...
- Advertisement -