TENCENT HOLDINGS ADR (TCEHY), Apple Inc. (NASDAQ: AAPL) – Epic Games vs. Apple lawsuit reveals how much ‘Fortnite’ money has earned

TENCENT HOLDINGS ADR (TCEHY), Apple Inc. (NASDAQ: AAPL) – Epic Games vs.  Apple lawsuit reveals how much ‘Fortnite’ money has earned

Documents for the trial also show a drop in 2020 both from the prior years and from Epic Games’ own forecasts. In 2018, “Fortnite” had $5.5 billion in sales. The following year the game rang up $3.7 billion, bringing in over $9 billion in sales in a two-year period for Epic Games. Epic Games had predicted 2020 revenue of $2.8 billion to $3.6 billion. The company now sees revenue from “Fortnite” hitting $2.8 billion in fiscal 2020.

Apple CEO Tim Cook and other Apple executives will represent the giant technology company. The court case will feature Epic Games CEO Tim Sweeney, former Apple employees and employees from other companies who testify on behalf of the gaming company.

While fans are passionate about “Fortnite,” Epic Games should be as well as the huge amount of money the gaming company made from the game was revealed publicly for the first time. What Happened: A court conference call to start the case faced problems from fans yelling “free Fortnite,” as the call was public and over 200 people were not muted for over 20 minutes.

What’s Next: The battle between Apple and Epic Games could see Fortnite added back to the iOS App Store. Decisions from the hearing could impact the amount Apple can charge publishers from revenue made on the iOS App Store. Epic Games is 40% owned by Tencent Holdings ADR (OTC: TCEHY). Shares of the large Asian technology giant could trade in reaction to news of a lower royalty rate for Apple or Fortnite being added back to Apple devices. Related Link: Apple To Face Epic Games Antitrst Lawsuit Over Unfair App Store Practices Today 

The documents show that “Fortnite” was the main source of revenue for “Fortnite” and has a much larger impact than other owned games. Monthly active users for “Fortnite” totaled 60.6 million in fiscal 2020, down from 65.1 million in the prior year.

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