Roblox Holdings Inc. has updated its annual bookings forecast amid a surge in users, connecting its success to viral game hits.
User and Revenue Growth
As of June, the average number of daily active users on Roblox reached 111.8 million, a 41% increase year-over-year. Total playtime surged to 27.4 billion hours. This boost is credited to successful titles like 'Grow a Garden,' which hit a new record for concurrent players.
New Monetization Strategies
Roblox is expanding its monetization avenues beyond gaming by introducing social spaces, e-commerce options, and ad placements. These moves have garnered investor approval. The company’s CFO, Naveen Chopra, noted that they have improved their search and discovery capabilities.
Age Verification System for Chat
In June, Roblox launched a new age-verification system for players who want more open chat options. The company aims to limit certain chat features to users aged 13 and older. These checks are powered by Persona, a firm specializing in identity verification.
Roblox continues to show significant growth in users and revenue while implementing new technologies and strategies, reinforcing its position as a key player in the gaming market.
