Roblox is a big business. It has exceeded $2 billion in annual revenue from mobile users last week. Roblox filed confidentially with the Securities and Exchange Commission earlier this month to go public. Although the company did not say when they would release financial information, it was valued at $4 billion in 2012, according to Wall Street Journal. Interviews were not granted by the company due to the quiet period before the initial public offering.
Roblox is a digital sandbox that allows kids to create their games. These can range from creating a virtual restaurant or adopting a pet. Many of the games on Roblox are user-generated. This includes many created by teens and children who have earned millions through the platform.
It was released in 2006 and has attracted millions of players. They enjoy games like digital hide and seek and even kid-friendly horror. Roblox is used by many organizations, including schools, Girl Scout troop troops, and camps to teach children. It has also become a quasi-social network for children.
Katie Salen Tekinbas is a game designer professor at the University of California Irvine. She estimates that Connected Camps, which teaches children how to make Roblox games, had 10,000 attendees this summer. Previous years saw only 2,000.
Tekinbas stated that he believes it opens up new opportunities for young people, especially in the tech sector which can be difficult to access.
How to Get Paid
Roblox is more than a fun platform. It’s also a lucrative job for the most successful developers. Roblox offers tutorials and tools for young developers that allow them to create and customize their titles, which can then be easily monetized. You can also sell virtual pets or clothes in-game for real money.
Recently, the company announced that its developers are on track to make over $250 million this fiscal year.
“I do it because I love it. In a video shared by CNN Business, CJ Oyer, 22, a Roblox game developer and student in game design in Indiana, said that the fact that I get paid doesn’t mean I have to find a job.
Oyer started playing Roblox at the age of 10 and created his first Roblox game in 2008. Oyer has earned six figures by creating a series of games that are played millions of times each year.
Oyer used his excess income to fund charity work. He gave out approximately 40 loans to people to help them pay for college.
Alisha Karabinus is an assistant professor at Grand Valley State University and a games researcher.
Roblox games are much easier than developing and producing games using rival engines such as Unity (whose stock rose to more than $97 last month after it launched at $68) and Epic Games’ Unreal Engine. Epic is a private company valued at $17.3B, while Unity, valued at $6B last year, has more than doubled its value to over $20B.
Roblox is designed for children younger than 13. Roblox games are smaller than those for Xbox and PlayStation and focus more on multiplayer interaction. This opens Roblox up to many responsibilities including strong parental controls and education for parents about how to use them.
Roblox is often mentioned in headlines for children who spend too much without permission from their parents and predators targeting children who use the platform. Roblox is often the subject of copyright complaints by other companies, as it contains user-generated content such as popular franchises like Pokemon.
It has been hacked several times. Because it follows child privacy rules, the platform is limited in what user data it can collect to track down those hackers. If not addressed, all these issues could potentially cause serious damage to Roblox’s business. Also, Roblox has exploits and cheat such as Jjsploit that are giving some players serious benefits.
Roblox stated in its August blog post, that it has 1,600 moderators who monitor and review the platform for inappropriate content. They also conduct safety reviews of all files using human scanning and mechanical scanning.
Karabiners, the professor has talked to her children, aged 7 and 12, about how Roblox is best for them. They can only play with their friends, and they are not allowed to play with strangers. She also doesn’t allow them to spend real money. However, she mentioned that she knows of other parents who give Robux, Roblox’s in-game currency, to their children.
Karabiners said, “You can have an extremely safe experience if it’s something you know and cares about,” adding that she talks to her children about how they recognize scams.
Roblox stated that it works with parents in reimbursing purchases if a child buys something without their consent.