Primer: Rec Room - 05 Apr 2026
Social gaming app for creating, sharing, and playing user-generated virtual worlds
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Discord At $600M/year
TL;DR: Sacra estimates that Discord hit $600M in annualized recurring revenue (ARR) at the end of 2023, up 35% year-over-year. After attempting to...
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Fortnite At 120M MAUs
When we wrote about Epic Games in November, we estimated their 2023 revenue at $4.2B, down 19% from $5.2B in 2022, because of declining engagement...
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Epic Games: The $4B/year Metaverse Company
TL;DR: Fortnite has made Epic Games $27B of high-margin revenue off in-app purchases, but growth has now gone negative with falling engagement and...
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Discord: The $15.2B WeChat For The Metaverse
TL;DR: Discord’s growth slowed by a third in 2022 as crypto declined, in-person meetups picked up and COVID-era phenomena like social audio dropped...
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