Q1 Kickstarter Highlights
- After a volatile year in the global economy due to the COVID-19 pandemic, the first quarter numbers are in for 2021. A strong month of March propelled tabletop games past the previous highwater marks set in Q1 2020, while video games continue to lag behind pre-COVID levels.
- Successful tabletop campaigns in Q1 increased 19% year over year, compared to a 4% increase for video games. This growth in tabletop games volume was disproportionately driven by projects in the $100-$500K range (by total funds raised), which increased 49% year over year during Q1.
- Total funds pledged to tabletop campaigns totaled $56.2 million in Q1, a year over year increase of 13%, while funding for video games declined 23% to $5.0 million. This growth in tabletop funding was overwhelmingly driven by international projects, funding for which increased by 119% year over year during the quarter. Funding US based tabletop projects, conversely, declined by 12%.
CMON Limited Announces Full Year 2020 Financial Results
- CMON posted total sales of $25.1 million in 2020, a decrease of 17.5% from $30.5 million in 2019, primarily due to the global COVID-19 pandemic shutting down the Company's contract manufacturers in China, rendering them unable to produce or ship games to their customers. This supply chain disruption also resulted in a 10.8% decrease in gross margins from 47.9% in 2019 to 37.2% in 2020, which comprises the bulk of the decrease in Adjusted EBITDA margins as well.
- The bulk of the year over year decrease in revenue came from CMON's wholesale channels, which declined $4.9 million (36.8%) from 2019 to 2020. Kickstarter revenue, the Company's primary sales channel, was largely flat on the year.