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The virtual platform Roblox saw a strong increase in the number of users in the first quarter, and thus also realized higher revenue. That grew 22 percent to $801 million. Gross bookings rose 19.4 percent to $923 million. Below the line, the American company posted a larger loss of 271 million(pdf).

Roblox now has a staggering 77 million users, devoted fans, mostly teenagers, thanks to its wide range of offerings from simulations and adventure games to proprietary developed games. Its biggest hits include Adopt me! (pet simulator), Brookhaven RP (functioning virtual city) and Tower of Hell.

Investors, however, have been less impressed with the company's performance. Its stock has fallen from $130 to $45. The company is struggling with high operating costs while having to sustain rapid growth.

Fans use the platform an average of 2.5 hours a day - and those numbers continue to grow. About half of American youth, ages 12 to 17, use Roblox monthly; and the number of users continues to increase in Asia as well.

Last week, the company announced that it will show "immersive video ads" to players older than 13. Roblox's share price has risen a bit since that announcement.

Brands have also taken a growing interest in Roblox, including Ralph Lauren, Nike, Crocs and Lego.

In February, Roblox introduced an AI chatbot that allows users to communicate with each other in real time, no matter what language they speak. The tool works in 16 languages.

Competition comes from Epic Games' Fortnite, and the Unreal Editor for Fortnite (UEFN), a tool that allows creators to build experiences and place them directly into Fortnite.

© The Content Exchange, source News