Finnish game maker Rovio Entertainment, the company behind the Angry Birds franchise, recorded an operating loss of €13 million ($14.8 million) in 2015.
Rovio’s revenue fell 10% to €142 million, its third consecutive yearly decline. Rovio said last week that it had expected to lose money “partly due to heavy investments in our future success,” referring to its upcoming The Angry Birds Movie.
While the film is being distributed by Columbia Pictures and was produced by Sony Pictures Imageworks, Rovio financed the majority of production and marketing costs for the CGI feature, investing upwards of $110 million of its own money to get the film into theaters. The unconventional financing structure means that if the film performs poorly, Rovio is the company that will be impacted most directly.