August 24, 2018 Fortnite’s industry-shaking growth has started to slow.
Fortnite is already one of the most profitable games in history, and we still don’t know how big it will eventually get. But we might be close to finding out. Fortnite’s profits are still sky-high, but the game’s ridiculous growth is finally settling down, and we’re starting to see the mega-popular battle royale plateau.
Fortnite profits were up in July, but only by 2% since June. That’s marked decrease in growth compared to every month prior, and it’s especially notable since the Season 5 Battle Pass launched during the month. Fortnite’s reign of digital dominance is hardly over, but it seems we’re finding the limits of the heights it can reach.
SuperData reports that total digital spending reached $8.2 billion in July, growing 3% overall compared to the previous year. The report cites Fortnite’s success on consoles as a principal driver of that success, in addition to the general growth of full game downloads. The weakest segment was ‘premium PC’ – full PC game downloads – which was down by a distressing 14% year-over-year.
Other reports from SuperData earlier this year suggested that Fortnite had already made $1.2 billion since the release of Battle Royale back in September. At the time, it was estimated Fortnite would have have a 2018 worth $2 billion, though it’s unclear if that estimate stands.
Either way, Tim Sweeney, who founded Epic in the early 90s and still serves as the company’s CEO, is thought to be worth between $5 billion and $8 billion since Fortnite’s success, according to Bloomberg.
That July report also suggested a $14 billion dollar value for Epic as a whole, based on the trading of other companies in the industry. Michael Pachter – yes, the Wedbush Securities analyst who became a gaming meme – says that even if Fortnite revenue falls to half its current state, Epic could command up to $7.5 if it went to market.
Chinese conglomerate Tencent currently owns a 40% stake in Epic, which it bought for $825 million back in 2012. Clearly that investment has paid off, but Tencent has not yet disclosed how exactly it’s broken down on the balance sheets.
That revenue isn’t just tied to the PC version, of course. Fortnite is a multiplatform game, and as these things usually go mobile has been a massive money maker. Since the launch of Fortnite Season 5, mobile spending hit an average of $2 million per day according to Sensor Tower. That version hit a new record on July 13, when players spent $3 million in-game.