The Roblox Corporation (NYSE: RBLX) reported the company's May 2021 key metrics, demonstrating noticeable growth since going public on the stock market in March 2021. The company achieved 43.0 daily active users (DAU), among many other increases over the past year. These metrics come not long after the company was sued by the National Music Publisher's Association (NMPA) in an ongoing battle about the use of licensed music on the platform.
Overall, the company's key metrics represent growth across most of its data over the past year. The May 2021 key metrics are:
- Daily active users (DAU) were 43.0 million, up 28% from May of last year and down 1% from 43.3 million in April 2021.
- Hours engaged were 3.2 billion, up 9% year over year and up 1% from 3.2 billion in April 2021.
- Bookings are estimated to be between $216 million and $219 million, up 24% - 26% year over year.
- Average Bookings per DAU are estimated to be between $5.02 and $5.09, down 2% - 3% year over year.
- Revenue is estimated to be between $149 million - $151 million, up 123% - 126% year over year.
Notably, the Roblox Corporation's DAUs and hours engaged demonstrate a sharp increase when compared to 2020. The massive gaming platform also topped the iOS App Store and Google Play Store as the highest grossing mobile game in the first quarter of 2021 alongside Genshin Impact, as reported by Hollywood Reporter. The company's stock price share currently sits at $89.80 as of this time of writing.
Despite the continual growth across Roblox, not everyone shares enthusiasm in the company's success. Roblox is being sued for $200 million by the National Music Publisher's Association (NMPA) over claims that the online gaming company allows the illegal use of music while taking advantage of young people's misunderstanding of copyright laws.
NMPA president/CEO David Israelite has remained outspoken against the Roblox company's policies on the relaxed use of licensed music. Today, Israelite accused Roblox of charging children for licensed music that the company does not own, refuting the notion that Roblox plays nice with artists like Lil Nas X and Zara Larsson by hosting virtual concerts on the platform.
"They are violating the copyrights of thousands and thousands of songwriters," said Israelite, in an exclusive interview with CNBC. "If we really thought they were a good partner promoting us, we wouldn't be in this position. They're not."
The outcome of the legal battles that Roblox faces is yet to see a conclusion. For now, the company appears to remain vigilant while continuing to focus on growth and partnerships by releasing in-game events, toy partnerships, and more.
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