Rovio is well on its way to stardom with Angry Birds. Business Insider reported last week that Rovio has sold more than 2 million toys already since October. In mere five months, the company has essentially generated at least 20 million euros worth of revenue through its toys (if we hypothetically agree on a 10€ average price per toy sold - they actually sell for $11.99 and $14.99). Plush toys are just one source of revenue for the company, other major sources include iOS apps, advertising on the Android platform as well as the Mighty Eagle add on.

In Rovio's previous fiscal year, ending June 2010 the company generated about 1,45 million euros in revenue with 225 000 euros in profit. This is all according to the public Finnish records. However, Angry Birds really took off end of last year and the incredible growth took place mostly during the second half of 2010. Therefore none of the figures are really visible in Rovio's financials for 2010 yet.

It's very difficult to say where the company will be regarding their 2011 revenues, but even with careful estimates its north of 50 million euros for sure. There are basically three somewhat public revenue streams that we can base this estimate on; iPhone app downloads, the mighty eagle add on as well as the plush toys.

Firstly, there are more than 50 million iPhone app downloads. Additionally, while the Android game is currently free, gamers are generating Rovio about $1 million a month in ad revenue, according to Business Insider.

Secondly, the Might Eagle add-on has been downloaded by 40% of the users so far. The add-on costs about $0,99 depending on where you are. Thirdly, the sales of the plush toys have easily generated millions for the company in a mere 5 months.

Putting all this together, it's astonishing, but pretty conservative to say that their 2011 financials will show revenue easily north of 50 million euros. With such a huge growth, it makes for an interesting debate why Disney hasn't bought Rovio off the market? It would make perfect sense, as Business Insider wrote. Disney isn't in the business of making movies, but in the business of capitalising on brands in the best possible way. It's exactly the same what Rovio is doing with Angry Birds.

Then again, while we don't really know - Disney might have tried to acquire Rovio.

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Pasi Ilola March 07, 2011

Don't forget the other platforms: Angry Birds is on the Mac App Store, currently the #3 paid app in Finland, and also at least in the Ovi Store and the Intel AppUp Center. While the other platforms are probably a rounding error, the Mac App Store should bring in nice additional revenues.

The really interesting thing is the upcoming Facebook version of Angry Birds. It's a different product, on a different platform with different rules. If Rovio manages to make it big on Facebook, they'll prove once and for all that Angry Birds is a lasting phenomenon.

All in all, Rovio could very well be the first Finnish startup company to break the $1 billion valuation barrier. If they don't reach at least half of that I'd be surprised.