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Angry Bird creator Rovio's profits drop

But it's not due to a decrease in game revenue.

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Angry Bird makers Rovio has reported a revenue drop of 9% and a falling profits of 73% in the past financial year (via Reuters.

While still profitable and with mobile game revenue actually increasing by 16% it was licensed side business that were responsible for the decline in revenue and profits. Kids simply aren't buying the Angry Birds plushies, candy and soda in the same volumes. The company is now banking on the upcoming movie to turn the merchandise side of their business around.

"It is clear that a growth company like us can't be satisfied with a falling revenue," Chief Executive Pekka Rantala told Reuters.

"The movie will help us get the licensing business back to growth. We are already seeing signs of pick-up in licensing business, and pretty soon we will be able to publish new major partnership deals."

Last year Rovio cut a total of 110 jobs or 14% of its workforce.

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