The number of users in the games of the Free Fire developer studio continues to decline. In the latest financial report, Sea, the parent company of Garena, reported that in the period from October to December 2022, the total active audience of the games was 485.5 million people. This is 25.8% less than at the same time a year ago.
Garena ‘s revenues have also fallen:
▪️for the whole of 2022, Garena earned $3.9 billion, — a drop of 9.3%;
▪️The studio’s annual receipts (bookings) amounted to $2.8 billion — a drop of 39.1%.
Sea itself closed the year with a net loss of $1.7 billion. It could have been more, but in the fourth quarter, the Singapore company made a net profit of $422.8 million for the first time in its history.