Running a company that has achieved revenues of up to USD 20 billion in just the last 10 years is certainly not an easy job. Moreover, this company is still quite ambitious about entering the digital PC game storefront market which is currently dominated by Steam. That’s right, we are of course talking about Epic Games – the brains behind not only the Epic Games Store, but also Unreal Engine and the super popular battle royale game – Fortnite. After going through financial shock some time ago, the CEO – Tim Sweeney came with good news.
Speaking at Unreal Fest 2024, Tim Sweeney finally confirmed that Epic Games’ overall financial condition was in a stable condition. Epic Games itself experienced shocks through the quite large expenses they incurred for several things, from the Fortnite development process, making games free on the Epic Games Store, to the costs of the lawsuits they filed. Sweeney said that Fortnite had just broken a new record by recording up to 110 million active players in one month. Not only that, the Epic Game Store also set records for concurrent active user numbers and sales.
This financial stability was also achieved by reducing labor costs through the mass dismissal of approximately 800 employees some time ago. What do you think about this situation?
Source: TweakTown
