An online game that immerses players in worlds they and other players create just hit a record number of users — and an all-time high of hours played.
Roblox announced its financial results for January through March of this year on Thursday and reported that it increased its daily active user count to 77.7 million, which is 17% higher than it was at the same time last year.
The number of hours players spent actively playing the game also increased, by 15%, to 16.7 billion hours over those three months.
Roblox sign-up page. Photo Credit: Gabby Jones/Bloomberg via Getty Images
Roblox also reported an average of 15.6 million unique paying customers per month, up 13%, and noted that each customer paid close to $20, or $19.68 exactly, a 6% increase.
Still, the company says it is “hard at work” to get growth even higher, back to 20% year-over-year from last quarter.
“We began experimenting with changes in our AI-driven discovery algorithm and the positioning of various content types on the Homepage,” Roblox founder and CEO David Baszucki stated. “We reintroduced platform-wide events like The Hunt: First Edition. And, we continued to improve the quality and performance of our app and experiences.”
Roblox stock was down 23% after the earnings announcement, the worst drop in over two years.
Related: What My Kids’ Roblox Addiction Taught Me About the Metaverse
Roblox has seen tremendous growth since its start in 2006, but what is the platform exactly for someone who has never played? And why is it so popular?
What Is Roblox?
Roblox is a free 3D gaming platform that allows users to play games created by other users or make their own with friends. They can also talk to their friends through chat while playing a game.
Popular roleplaying games on Roblox include Brookhaven RP, which takes place in a city, and Royale High, a school-themed game.
Roblox went public in 2021.
What Is Robux?
Robux is the digital currency used in Roblox. Though the game is free, players can buy Robux to upgrade their avatars, unlock special features, and access certain games.
Players can buy Robux from the Roblox website or through a gift card.
$0.99 equals 80 Robux.
Why Is Roblox So Popular?
Roblox was first released in September 2006, making the game older than most of its user base. As of December, 58% of Roblox players were under 16 years old, with one in five users under 9 years old.
The game had 13.5 million users as of 2012.
The rise of YouTube and game streaming catapulted Roblox to the mainstream in 2017 as YouTubers and streamers recorded themselves playing the game to large audiences.
The pandemic may have furthered Roblox’s reach, especially with younger audiences.
An early Roblox game trailer from November 2006 shows how far the game has come in 17 years.
How Does Roblox Plan To Keep Growing?
The majority of Roblox users are kids or teenagers, but the company is working to broaden its user base, per CNN.
Wall Street analysts told the publication that Roblox needs to show new sources of revenue growth.
