Video Game Development & Publishing
MTG vs Supercell
Structured technology and market comparison · 2026
Direct Feature Comparison
MTG · vs · Supercell| Attribute | MTMTG | SUSupercell |
|---|---|---|
| Market Cluster / Sector | Video Game Development & Publishing | Video Game Development & Publishing |
| Business Model / Role | Publisher & Media Owner · Private Equity, VC & Investor | Publisher & Media Owner · B2C Consumer App / Platform |
| Platform Focus | Public gaming group owning and scaling free-to-play studios. | Mobile game publisher focused on live-service free-to-play franchises. |
| Company Size | 1,001–5,000 employees | 501–1,000 employees |
| Headquarters | Sweden | Finland |
| Year Founded | 1987 | 2010 |
| Dossier & Alternatives |
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Comparison Analysis
What is the main difference between MTG and Supercell?
When comparing MTG and Supercell, both platforms operate within the Gaming Platform, In-App, and Publisher & Media Owner ecosystem. MTG is positioned as Public gaming group owning and scaling free-to-play studios, whereas Supercell focuses on Mobile game publisher focused on live-service free-to-play franchises. Decision-makers evaluate both solutions when orchestrating their commercial monetization and technology stack.
What are the top alternatives to MTG and Supercell?
When evaluating MTG and Supercell, enterprise buyers also consider other platforms in Gaming Platform, In-App, and Publisher & Media Owner. You can discover the full competitive landscape and evaluate other alternatives by viewing their respective footprint profiles on Polaris7.
How do the corporate scale, structure, and headquarters of MTG and Supercell compare?
MTG is headquartered in Sweden (founded in 1987) with 1,001–5,000 employees. Supercell is based in Finland (founded in 2010) with 501–1,000 employees. Complete ownership, subsidiary trees, and corporate affiliations are documented across Polaris7.
Market Signals
Recent Market Signals & Activity: MTG vs Supercell
Documented market movements, strategic partnerships, product releases, and regulatory developments mapped across Polaris7.
MTG
Recent Signals
- ·MTGM&A & Corporate Finance
Buy-back of shares in MTG during week 45, 2026
Modern Times Group MTG AB (publ) announced that between 2 November and 6 November 2026, it repurchased a total of 79,000 class B shares (ISIN SE0018012494) on Nasdaq Stockholm under its ongoing share repurchase program. The program, announced on 21 May 2026, has a maximum amount of SEK 500 million and runs from 22 May 2026 to 7 May 2027. The buy-backs were executed by SB1 Markets on behalf of MTG, with daily volumes ranging from 14,000 to 18,000 shares and weighted average prices between SEK 103.57 and SEK 121.44. Following these transactions, MTG holds 1,604,000 own class B shares out of a total of 119,502,285 shares, and the repurchased shares are intended to be cancelled to optimize capital structure.
- MTG repurchased 79,000 class B shares between 2-6 November 2026.
- The buy-back is part of a SEK 500 million program announced on 21 May 2026.
- The program runs from 22 May 2026 to 7 May 2027.
- ·Mobilegamer.bizFinancials
MTG Q3 Revenue Flat, D2C Reaches 42% of Sales
Swedish gaming holding MTG reported flat net sales of SEK 2.99 billion ($308 million) for Q3 2026, with adjusted EBITDA rising 3% to SEK 693 million ($71 million). Direct-to-consumer (D2C) sales now account for 42% of group revenue, up from 38% in Q2 and 26% a year earlier, driven by Playamp (midcore division) reaching 55% D2C share. Google's new fees on external payment links for US Android players, effective October 1, have partially reduced D2C cost advantages, impacting margins. Playamp's revenue fell 6% pro forma, with declines in Forge of Empires and Warhammer 40k: Tacticus partly offset by Raid: Shadow Legends growth. The company postponed Playsimple's IPO due to Indian market conditions, targeting 2027. MTG also acquired WARP36 and took full ownership of Snowprint. Full-year guidance remains 5-8% pro forma growth, 22-24% EBITDA margin.
- MTG reported Q3 net sales of SEK 2.99 billion ($308 million), flat year-on-year.
- D2C revenue reached 42% of group sales, up from 26% a year earlier.
- Google began charging fees on external payment links for US Android users on October 1, 2026.
- ·MTGM&A & Corporate Finance
Another solid quarter with SEK 3 bn net sales, 23% adjusted EBITDA margin
Modern Times Group (MTG) reported stable year-over-year net sales of SEK 2,988 million and an adjusted EBITDA of SEK 693 million (23% margin) for Q3 2026. The group reiterated its full-year outlook, targeting pro forma revenue growth of 5-8% (at the lower end) and an adjusted EBITDA margin of 22-24% (at the upper end). During the period, MTG exercised put/call options to reach 100% ownership of Snowprint, acquired WARP36, and postponed the planned IPO of Playsimple due to Indian market conditions.
- Q3 2026 net sales reached SEK 2,988 million (flat YoY, -2% in constant currencies), with adjusted EBITDA rising 3% YoY to SEK 693 million (23% margin).
- User acquisition (UA) spend was SEK 1,178 million in Q3, representing 39% of total net sales.
- Direct-to-consumer (DTC) revenues accounted for 42% of total group revenues in Q3 2026, up from 26% in Q3 2025.
Supercell
Recent Signals
- ·PocketGamer.bizRegulation
Supercell CEO: EU Digital Fairness Act Will Harm Consumers
Supercell CEO Ilkka Paananen and King president Todd Green have publicly criticized the EU's proposed Digital Fairness Act (DFA), formally proposed by the European Commission on November 11. The legislation targets games aimed at minors, requiring paid-for virtual currencies to be switched off by default unless a parent approves, and banning loot boxes and pay-to-win mechanics for minors. Games would also need to display the real-money value of virtual items and allow all players to disable loot boxes and addictive features. Paananen argues that the proposal hurts consumers by reducing free-to-play games, noting that 95% of Supercell's players play for free. Green highlights the uncertainty for Europe's 1,000+ mobile studios. UK trade body Ukie has also backed industry opposition, warning of threats to parental choice and the Pegi rating system. The proposal now heads to the European Parliament and Council.
- EU's Digital Fairness Act (DFA) proposed on November 11 by European Commission
- Paid-for virtual currencies switched off by default for minors; loot boxes and pay-to-win mechanics banned for minors
- Games must display real-money value of virtual items and allow all players to disable loot boxes
- ·exmoxProduct & Platform Launch
October 2026 Gaming and Adtech News Recap
exmox published its October 2026 industry recap, highlighting key developments across mobile gaming and adtech. Major stories include Supercell completing its acquisition of Metacore, Google launching AI game-creation tools, regulatory fines against Google and Apple in South Korea, and Flow Games raising $49 million. In adtech, AppLovin initiated legal action against Unity over Ad Quality SDK data, while Miniclip launched its standalone ad network, AdSurge.
- Supercell officially closed its full acquisition of Merge Mansion developer Metacore on October 19, 2026.
- South Korea's Media and Communications Commission fined Google and Apple a combined $47.6 million over app payment practices.
- Istanbul-based Flow Games confirmed $49 million in total funding from investors including Tencent, Makers Fund, Arcadia Gaming Partners, and Ludus Ventures.
- ·PocketGamer.bizRegulation
Leaked EU Proposal Targets Loot Boxes, Addictive Game Design
A leaked draft of the European Commission's proposed Digital Fairness Act (DFA) could impose new restrictions on video game monetisation, including loot boxes, pay-to-win mechanics, and design features that encourage excessive spending. The Commission is expected to present the proposal on November 11, 2026. The draft suggests replacing the EU's Unfair Commercial Practices Directive with a directly applicable Regulation to harmonise consumer protection rules. Key measures include clearer disclosure of virtual currency values and loot box probabilities, disabling in-game currencies by default for minors, prohibiting paid loot boxes and pay-to-win mechanics for minors, and giving adults the option to disable features that encourage compulsive use. The draft also proposes fines of up to 6% of global annual turnover for breaches. The text remains preliminary and subject to change. Industry leaders, such as Supercell CEO Ilkka Paananen, have warned of severe economic impacts on European game developers. Other industry figures, like Oscar Clark of Arcanix.AI, worry about the burden on smaller developers, while James Tamim, an EU digital policy analyst, sees potential benefits in a more consistent rulebook. However, Martine Spaans of the Dutch Games Association criticises that the DFA does not fully harmonise rules, as member states can still adopt additional national measures. The free-to-play model is particularly at risk, and the DFA's interaction with the proposed EU Kids Act and the role of PEGI remain unclear.
- The European Commission is expected to present the Digital Fairness Act proposal on November 11, 2026.
- The draft proposes replacing the Unfair Commercial Practices Directive with a directly applicable Regulation.
- Paid loot boxes and pay-to-win mechanics would be prohibited for minors, with paid virtual currencies disabled by default without parental approval.
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