CCP revenue in 2011 hit $66 million, firm considering IPO

By Stephany Nunneley
22 February 2012 17:24 GMT

CCP Games earned $66 million in revenue last year, the firm has said, and as a result – compounded with its plans for Dust 514 – the firm is considering an initial public offering.

According to a report on TechCrunch, CCP stated EVE Online’s revenue has grown at an annual rate of 53% which would put the game’s lifetime revenue at $300 million.

While CCP wouldn’t comment on its profit, the firm has “very healthy margins” and with only $3 million in seed funding and it currently employs 450 people. More revenue is also expected with the release of DUST 514 will use a micro-transaction model instead of a standard, sub-model when it releases on PS3 this summer.

The firm’s new CMO David Reid said the firm plans to continue embracing new business models, in addition to model offered by EVE Online, which has around around 400,000 subscribers. The game also allows players to pay for other users to play in exchange for virtual currency and 40,000 people take advantage of this methods, according to the firm.

Due to the continued success of EVE along with its Asian expansion, and with DUST 514’s release looming, the firm’s CEO Hilmar Veigar Petursson said the firm is preparing for an IPO form a “policy standpoint,” but at this point the firm isn’t ready to commit to an announcement.

“We’re quite a substantial company, so we’re thinking, what’s the next step,” he said.

CCP also has the MMO World of Darkness in the works, which has been development since 2008 and while it doesn’t have a release window, currently, the firm said it remains “committed” to the title, and it’s to be released sometime this year “at the earliest.”

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