My.Games Business Improves In Q1, Now Accounts For 39% Of Mail.ru's Revenue

The My.Games portfolio of games continues to rake in the rubles for its corporate overlord, Russian tech giant Mail.ru. The company's Q1 2021 financial report indicated a 42.2% year-over-year increase in revenue, meaning that the games business increased nearly half from the first quarter of 2020 to the first quarter of 2021, continuing the trend that's been seen throughout the past year. Overall, the games segment accounted for 39% of Mail.ru's revenue in Q1 2021, up from 35% a year ago. That's 11 billion rubles, or about $149 million.

98% of My.Games' revenue came from free-to-play games, with mobile games accounting for 78% of that. Conqueror's Blade was mentioned as one of "the main contributors in MY.GAMES revenue YoY growth in Q1 2021." That's easy enough to see when you look at the game's growth on Steam from one year ago to now, going from 1,633 average players in February 2020 to 6,292 in April 2021.

Overall, My.Games counted 22.7 million monthly average users across all its titles, "4.8% share of paying monthly users versus 4.4% in Q1 2020." We think that means 4.8% of the free players were monetized, but decided to include the whole quote just to be sure. 79% of revenue came from outside Russia and the CIS, mainly from the United States, Germany, and the United Kingdom.

Total accounts created to date for various games include 114 million for Warface, 3.1 million for Conqueror's Blade, and 12 million for Skyforge. It's worth noting that Armored Warfare is not mentioned anywhere in the report.

You can read the Mail.ru Q1 2021 financial report here.