The Katy Perry Game Flopped, So Its Makers Signed Taylor Swi
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The Katy Perry Game Flopped, So Its Makers Signed Taylor Swift
The company behind the Kim Kardashian game said “Katy Perry Pop” was a big disappointment as it announced a new game with her rival, Taylor Swift.
The company behind “Kim Kardashian: Hollywood” just announced plans to develop a new mobile game with Taylor Swift later this year. It turns out Swift will be filling a blank space on the company’s balance sheet after its app starring her rival Katy Perry flopped.
“Katy Perry Pop” was one of Glu Mobile’s “biggest disappointments” in the back half of last year, Chief Financial Officer Eric Ludwig said on an earnings call Wednesday. The company cited the game’s poor performance as the reason it cut its revenue and profit forecasts for 2016.
The hope that Swift — who Glu CEO Niccolo de Masi referred to as “the most popular person in the world” — will lift the company’s performance is of note given the very public feud between the two pop stars. It’s widely believed that Swift’s “Bad Blood” is about Perry, and there’s a long history of both stars subtweeting each other and drawing celebrity friends into their lines of fire. Now, the feud will extend to the iTunes App Store.
Taylor Swift adds $75 million to Glu Mobile’s market cap
Glu Mobile Inc. shares rallied in the extended session Wednesday after the mobile-games developer announced a partnership with award-winning singer Taylor Swift.
Glu GLUU, -2.90% shares surged 29% to $2.59 on heavy volume after the close on Wednesday. Glu Mobile closed at $2.01 a share Wednesday with 131 million shares outstanding, according to FactSet. That jump in share price adds about $75 million to Glu’s $264 million market cap at the close. http://www.marketwatch.com/story/tay..._share_twitter
