Game Development Company has grown 20% in 2021 and further invests into new games
Nordcurrent, the largest game development and publishing company in Lithuania, grew by 20% in 2021. Having published three new games, the company plans to further increase its revenues this year by expanding the team and reinvesting into existing projects.
Nordcurrent, the largest video game development and publishing company in Lithuania, reached revenues amounting to €62.75 million. The company reports a 20% increase compared to the results of the previous year. Nordcurrent growth is in line with a general expansion of the mobile gaming industry, which is expected to reach €129.9 billion by 2026.
Based in Vilnius, Dnipro, and Odessa, Nordcurrent has developed and published more than 50 games for various platforms. Cooking Fever, Murder in the Alps, Pocket Styler, Happy Clinic, and other favorites have been downloaded over 500 million times.
“2021 was a very busy year for us. Our turnover grew significantly compared to 2020. For this reason, we decided not to accumulate profits, but to invest in developing and publishing new games. Last year we released two mobile games, successfully introducing them to the market, and in January 2022 we launched another promising time management game, Happy Clinic,” said Viktorija Trofimova, CEO of Nordcurrent.
Reinvesting into game production - key growth factor
According to the CEO, the investments into the new games are paying off, with downloads growing rapidly. Airplane Chefs and Pocket Styler, released in 2021, have been downloaded by over 10 million and 12 million players respectively. Happy Clinic, released at the end of January this year, received over 2 million downloads in two months. This will allow the company to continue its growth in 2022, expecting to reach 110 million€revenues this year.
Currently, Nordcurrent’s major focus is on improving the existing games - adding more content, new features, and also growing the artist, design, and development teams. There are also new projects in the pipeline, as at least one more game will be published in 2022.
Establishing a temporary office in Warsaw amidst the Russian invasion
Russia’s war in Ukraine has made it necessary to adapt quickly to the changed situation. To ensure smooth operations and further expansion, a temporary Nordcurrent office was opened in Warsaw to relocate the teams from Ukraine.
Of the 250 people working for the company, around 20 of those from the cities of Dnipro and Odessa were transferred to the new office. Nordcurrent hopes that once the war is over, employees will be able to return safely to their home country in Ukraine, but for now, the company as a whole must learn to adapt.