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According to CEO Tim Sweeney, Epic Games is now in a “strong financial position.”
During Unreal Fest Seattle 2024, Sweeney shared the company’s positive outlook compared to the previous year.
“Fortnite and the Epic Games Store have reached new heights in terms of popularity and success,” he stated.
Highlighting the achievement, he mentioned that Fortnite reached a peak of 110 million monthly active users last holiday season. Sweeney emphasized the rapidly changing landscape of the gaming industry, likening it to only a few significant times in the history of game development.
These outstanding results stand in contrast to Unreal Fest 2023, where Sweeney acknowledged the impact of over 800 job cuts, representing 16% of the workforce. However, these measures were deemed necessary to stabilize the company’s financial status.
Embracing Change
“Last year’s Unreal Fest began on a somber note,” reflected Sweeney at this year’s event. “We had to address our financial situation and make some tough decisions. Over the past year, we have focused on rebuilding and excelling in all areas.”
Epic Games has also been engaged in a legal battle with tech giants Apple and Google, whom Sweeney accuses of restricting developers’ abilities.
Amidst the restructuring, Epic Games introduced the open content marketplace Fab and successfully launched the Epic Games Store on mobile platforms, featuring popular titles like Rocket League Sideswipe, Fall Guys, and Fortnite.
In September, the store achieved a record of 70 million monthly active users.
“Our goal is to expand the reach of the Epic Games Store on mobile devices before the upcoming launch of third-party games this holiday season,” explained Epic Games Store general manager Steve Allison.
Reporting from MobileGamer.biz confirms that Epic Games Store plans to have up to 50 third-party titles available by the end of 2024.
In an effort to attract more developers, Unreal Engine will reduce royalty fees, encouraging simultaneous releases on the Epic Games Store alongside other platforms, thereby enhancing the game library and competing with Apple and Google.
