In a keynote speech at Unreal Fest 2024, Epic Games CEO Tim Sweeney took to the stage to deliver some fantastic news. He explained that after several years of peaks and troughs, Epic Games is finally ‘financially sound’. This news comes following months of success for Fortnite and record-breaking performances across the Epic Games Store on PC.
It has been a tough journey getting there, though.
Weather the Road
Last year, Epic Games performed mass layoffs that impacted almost 1000 workers. The firm also had to pour hundreds of millions of dollars into court cases, particularly those going up against the likes of the FTC, Apple, and Google.
On the upswing, Fortnite became more successful than ever around a year ago, pulling in record-high players amid a ‘return to OG’ event that saw staggering numbers of people flood the platform. Also, the Epic Games Store has continued to soar, securing considerable revenue growth and raking in $1.25 billion in 2023.
Speaking during the Unreal Fest 2024 keynote, Tim Sweeney said:
Last year’s Unreal Fest began with some sad news. The company had to get its finances in order, and we just had some major layoffs. We spent the last year rebuilding and also executing solidly on all fronts.
I’m happy to tell you now that the company is financially sound, and that Fortnite and the Epic Games Store have hit new records in concurrency and success. Fortnite hit 110 million monthly active users last holiday, an all-time peak.
The full video is available here:
Epic Games remains one of the most innovative and diverse tech titans in the world of gaming. From the Unreal Engine to the UGC ecosystem promoted in Fortnite, and from the overwhelming success of the ‘free games’ initiative on the Epic Games Store to the cutthroat defence of its products, Epic Games is doing a fantastic job of weathering the industry’s ongoing struggles.
It’s just a shame it cost almost 1000 jobs to get there.
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