Roblox, the online game-creation platform, generated $509.3 million in revenue in Q3 2021 — a 102% increase compared to the same period a year ago.
The quarter was driven by a spike in daily active users, which reached 47.3 million in the third quarter, a 31% increase year-over-year.
Roblox users spent more than 11.2 billion hours on the platform in Q3, a 28% uptick compared to Q3 2020.
- Roblox went public in March at a $41.9 billion valuation after multiple delays amid scrutiny by the SEC regarding how revenue is recognized in its finances.
- The company announced a partnership in July with Sony Music Entertainment to bring Sony recording artists into the Roblox metaverse.
- In August, it acquired Guilded, a company focused on building a platform to connect gaming communities.
In October, Roblox announced that it plans to sell $1 billion of junk bonds and will use the proceeds to assist with “general corporate purposes,” including capital expenditures, production and development, and potential acquisitions.
The National Music Publishers’ Association sued Roblox for $200 million in June due to an alleged failure to compensate writers or copyright holders for songs used on the platform.