Roblox, the popular online gaming platform, has hit a new milestone with a record number of users and hours played. The company announced its financial results for the first quarter of the year, revealing that it now has 77.7 million daily active users, a 17% increase from the previous year. Additionally, players spent a total of 16.7 billion hours actively playing games on the platform, a 15% increase.
Despite these impressive numbers, Roblox is not resting on its laurels. The company reported an average of 15.6 million unique paying customers per month, with each customer spending close to $20. Roblox founder and CEO David Baszucki stated that they are “hard at work” to achieve even higher growth, aiming for a 20% year-over-year increase from last quarter.
However, the news of Roblox’s success was met with a 23% drop in stock price, the worst in over two years. Despite this setback, Roblox remains a popular platform for gamers of all ages. The game, which allows users to create and play games with friends in a 3D environment, has seen tremendous growth since its inception in 2006.
With the rise of YouTube and game streaming, Roblox has become a mainstream sensation, attracting a younger audience. The pandemic also played a role in expanding Roblox’s reach, especially among younger players.
As Roblox continues to grow and evolve, the company is working to broaden its user base beyond kids and teenagers. Wall Street analysts suggest that Roblox needs to find new sources of revenue growth to sustain its success in the long term. Despite the challenges ahead, Roblox remains a dominant force in the world of online gaming.