Newspaper article Daily News (Warwick, Australia)

Candy Crush Never Going to Last

Newspaper article Daily News (Warwick, Australia)

Candy Crush Never Going to Last

Article excerpt

Byline: Toby Green

THERE'S not much high-fiving going on at King at the moment.

On Tuesday night it announced figures for the second-quarter revealing gross bookings - how much users spend in-game while playing - had dropped nearly $30m from the previous three months to $611.1m.

The problem? Candy Crush - the title that has been labelled the crack cocaine of smartphone games, and which accounts for roughly 60% of King's total revenues - had "declined more than we had expected", according to chief executive Riccardo Zacconi, and its other titles hadn't stepped up to make the difference.

Who could have seen this coming? Quite a lot of people, to be honest. There was no shortage of warnings that King was floating on the basis of one hit game, and that this game wasn't enough to justify a valuation of $6b.

There was also the obvious comparison to be made with fellow games developer Zynga, which launched its own $7b float at the end of 2011 off the back of the success of FarmVille and Words with Friends (remember those? …

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