Supercell invests an additional $37 million in Space Ape Games
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Clash of Clans maker Supercell has increased its stake in Space Ape Games to 75% by investing an additional $37 million in the game studio.
London-based Space Ape Games is in expansion mode, making titles like mobile rhythm game Beatstar, as well as older titles like Rival Kingdoms and Transformers: Earth Wars. Supercell, majority-owned by Tencent, invested $56.6 million in Space Ape Games in 2017 for a 62.6% stake.
“The reasoning is above all the success of the game Beatstar, because we have spent years working, learning and mastering a category of music games,” said John Earner, CEO of Space Ape Games, in an interview with GamesBeat. "We have had success in this category and promise that we can continue to improve in this category. Through the game we are working on expansions for the future. This is really compelling for us and for Supercell."
Now the studio is worth more and Supercell is also extending a $50 million line of credit to Space Ape Games, bringing its total debt and equity investment to $189 million. Space Ape will use the additional funds and credit to grow their team and expand their marketing.
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> register here“The funding will really help us continue this success,” Earner said. "I think the second thing behind that story is the confidence and excitement about what else we do, how much we've grown over the last few years beyond the music category, and a few other things we do. also. So ultimately it is a message of success. They are increasing their stake in our business to help us strive for success."
Since its global release in August 2021, Space Ape Games' Beatstar has reached #1 overall in 24 countries, top 10 in 70, and become the highest-grossing music game in the world. The popular rhythm title has been played by over 30 million people, surpassed $60 million in revenue, and won Game of the Year at the 2022 Mobile Game Awards.
The music industry has taken notice and embraced Beatstar as a primary platform for music discovery, Earner said. The Black Eyed Peas, Shakira and David Guetta have chosen to release their song, Don't You Worry, exclusively on Beatstar two days before its release on any other platform.
Want to learn more about the future of the video game industry? Join gaming executives to discuss emerging parts of the industry in October at GamesBeat Summit Next. Learn more.
Clash of Clans maker Supercell has increased its stake in Space Ape Games to 75% by investing an additional $37 million in the game studio.
London-based Space Ape Games is in expansion mode, making titles like mobile rhythm game Beatstar, as well as older titles like Rival Kingdoms and Transformers: Earth Wars. Supercell, majority-owned by Tencent, invested $56.6 million in Space Ape Games in 2017 for a 62.6% stake.
“The reasoning is above all the success of the game Beatstar, because we have spent years working, learning and mastering a category of music games,” said John Earner, CEO of Space Ape Games, in an interview with GamesBeat. "We have had success in this category and promise that we can continue to improve in this category. Through the game we are working on expansions for the future. This is really compelling for us and for Supercell."
Now the studio is worth more and Supercell is also extending a $50 million line of credit to Space Ape Games, bringing its total debt and equity investment to $189 million. Space Ape will use the additional funds and credit to grow their team and expand their marketing.
EventMetaBeat 2022
MetaBeat will bring together thought leaders from across the Metaverse to advise on how Metaverse technology will transform the way all industries communicate and do business on October 3-4 in San Francisco, CA.
> register here“The funding will really help us continue this success,” Earner said. "I think the second thing behind that story is the confidence and excitement about what else we do, how much we've grown over the last few years beyond the music category, and a few other things we do. also. So ultimately it is a message of success. They are increasing their stake in our business to help us strive for success."
Since its global release in August 2021, Space Ape Games' Beatstar has reached #1 overall in 24 countries, top 10 in 70, and become the highest-grossing music game in the world. The popular rhythm title has been played by over 30 million people, surpassed $60 million in revenue, and won Game of the Year at the 2022 Mobile Game Awards.
The music industry has taken notice and embraced Beatstar as a primary platform for music discovery, Earner said. The Black Eyed Peas, Shakira and David Guetta have chosen to release their song, Don't You Worry, exclusively on Beatstar two days before its release on any other platform.
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