Epic Games is Now ‘Financially Sound’, CEO Reveals

As a gamer with years of gaming history under my belt, I must say that watching Epic Games bounce back from adversity is truly inspiring. It’s a testament to their resilience and innovation that they have managed to turn things around after such a tumultuous period.

At Unreal Fest 2024, Tim Sweeney, CEO of Epic Games, shared exciting updates during his keynote speech. He revealed that after navigating through periods of ups and downs, Epic Games has achieved a solid financial position. This positive development is a result of Fortnite’s recent success and outstanding achievements on the Epic Games Store for PC.

It has been a tough journey getting there, though.

Weather the Road

In the previous year, Epic Games carried out significant job cuts affecting approximately 1000 employees. Additionally, they had to invest a large sum, amounting to hundreds of millions of dollars, into legal battles, primarily those involving entities such as the FTC, Apple, and Google.

Approximately a year ago, Fortnite experienced unprecedented success, attracting an all-time high of players during its ‘back to basics’ event that drew massive crowds to the platform. Moreover, the Epic Games Store has been thriving, registering significant income growth and earning $1.25 billion in 2023.

Speaking during the Unreal Fest 2024 keynote, Tim Sweeney said:

To start off, last year’s Unreal Fest was clouded by unfortunate developments. Financial adjustments required a significant reduction in workforce. The past year has been dedicated to regrouping and delivering consistently across all aspects.
Delighted to share some exciting news! Our beloved company is thriving financially, which is a testament to our unwavering commitment. To top it off, both Fortnite and the Epic Games Store have surpassed previous achievements in terms of concurrent users and success. Over the recent holidays, Fortnite reached an astounding 110 million monthly active users – a new record high!

The full video is available here:

Epic Games continues to stand out as one of the world’s most inventive and versatile giants in the gaming tech sector. From the Unreal Engine to the user-generated content platform in Fortnite, and from the thriving ‘free games’ program on the Epic Games Store to its tenacious protection of its products, Epic Games is impressively navigating the challenges within the industry.

It’s just a shame it cost almost 1000 jobs to get there.

Subscribe to our newsletter to receive the latest news and exclusive leaks every week! No Spam.