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“For a while now, we’ve been spending way more money than we earn,” wrote Chief Executive Officer Tim Sweeney. Fortnite has generated a revenue of over $26 bil
by VikingCoder 3y ago
“For a while now, we’ve been spending way more money than we earn,” wrote Chief Executive Officer Tim Sweeney.
Fortnite has generated a revenue of over $26 billion since its release in 2017.
How in the world could they possibly have spent more than they make? I mean, how is that remotely possible?
16% of its staff is 870. They had 5,437 staff?
That's $797,008 per employee per year. And that's just from Fortnite alone, ignoring all of their other sources of revenue. Imagine spending "way more" than that.
What am I missing?
- alephnerd 3y agoTheir Gross Income (ie. money remaining after Revenue is spent on expenses) has been dropping severely [0]. In 2019 their net income was $1.8B yet by 2022, their net income was $700M. That's a 61% DROP in net income in just 3 years. If your expenses are growing faster than you revenue, you done goofed. If we look at earning statements (can't cuz they're private), this was probably due to overhiring. [0] - https://www.statista.com/statistics/1234193/epic-games-annual-income/ https://www.statista.com/statistics/1234193/epic-games-annua...
- meragrin_ 3y agoOutside workers(contractors and such), Infrastructure, Sales/Marketing, licensing(Star Wars, NFL, DC, etc.).