The first quarter of 2018 was a banner one for Roblox, with the firm reporting $655.3 million in revenue, a 22% year-over-year increase.
Q1 Revenue Increasing
Roblox is dedicated to expanding its advertising infrastructure, which now consists of billboards, television commercials, and radio spots. However, the company also plans to introduce Portal Ads, an immersive, in-game environment where users can engage with companies on a more personal level.
Walmart closed its Universe of Play area after receiving complaints from parents and privacy advocates, and Truth in Advertising filed a complaint with the Federal Trade Commission (FTC). Roblox’s bookings have experienced a remarkable turnaround, increasing from a negative 3% increase in Q1 2022 to a positive 10% growth in Q1 2022 to a positive 17% growth in Q1 2023.