London-based Mind Candy closed the 2013 financial year with a loss of £2.2 million due to the fact that it switched to freemium mobile games, the online newspaper Financial Times claims.
Mind Candy is the author and owner of the browser-based online game Moshi Monsters and the franchise of the same name.
In 2013, Mind Candy launched a mobile shareware game called Moshi Monsters Village. The following year, 2014, the company released two more projects for mobile devices – “Instagram for kids” PopJam and the game World of Warriors. Both are shareware. Before that, Mind Candy only launched premium apps (for example, Moshi Monsters: Moshlings in 2011).
In 2012, the company closed the financial year with a profit of £8.1 million and revenue of £46.9 million; the following year, revenue fell by 35% to £30.6 million. The financial year at the same time, as already mentioned, was closed with a loss.
“In 2012, things were going uphill, and then there was a decline. We moved from creating online products to mobile projects, and therefore we had to change the very DNA of our company to cope with this task. In addition, we are no longer a company with one title, we have several of them,” Divinia Knowles, president and CFO of Mind Candy, commented on the situation.”
The headquarters is located in London. The company was founded in 2004.