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Roblox keeps adding users of all ages

The gaming platform's increasing emphasis on more mature content seems to be working

8/2/24 8:53AM

Roblox Corp. just posted a strong Q2, with revenues rising 31% year-on-year to $894 million, engagement hours up 24% to 17.4 billion, and daily active users reaching 79.5 million, as more and more people log in each day to explore the vast range of “experiences” that the video game platform has to offer.

Although shares actually slipped yesterday on the back of news that the company’s long-serving CFO Michael Guthrie would be stepping down, there was much for Roblox execs to cheer, not least of all that their efforts to host more mature content on the platform (think games with horror elements, violence, and crude humor) seem to be paying off.

Not just for kids

While Roblox has always been pretty broad in terms of what users can actually get up to — you can clock in for a shift at a virtual Ikea and get paid actual money to do so, for instance, or attend in-game concerts from artists like Charli XCX, Mariah Carey, or Lil Nas X — the company announced plans last summer to let game developers make exclusive content for users who've verified they're over 17.

Since then, the platform has seen the oldest cohort that it breaks out, the over 13s, grow by almost 10 million daily active users, while the number of DAUs aged 13 and under has risen just 4.2 million in the same period.

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WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

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Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

Roblox keeps adding users of all ages

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