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KATWIJK AAN ZEE, NETHERLANDS – JANUARY 16: Magnus Carlsen of Norway competes against Daniil Dubov of Russia during the 82nd Tata Steel Chess Tournament held at the home of PSV football club, Philips Stadion on January 16, 2020 in Eindhoven, Netherlands. (Photo by Dean Mouhtaropoulos/Getty Images)
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KATWIJK AAN ZEE, NETHERLANDS – JANUARY 16: Magnus Carlsen of Norway competes against Daniil Dubov of Russia during the 82nd Tata Steel Chess Tournament held at the home of PSV football club, Philips Stadion on January 16, 2020 in Eindhoven, Netherlands. (Photo by Dean Mouhtaropoulos/Getty Images)
It is no secret that Netflix Show, Queen’s Gambit, attracted a lot more viewers interested in chess. The show featured a wonder kid, rising through the ranks, and winning different tournaments against older grandmasters. Hence, it became a mainstay on television for some time, as Anya Taylor-Joy, aka Beth Harmon, piqued the interest of even those who did not watch the sport. This helped many businesses to grow, including the app run by Magnus Carlsen.
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Magnus Carlsen is talented
Co-founded in 2013, Play Magnus amplified from a normal training app to giving out new features like a playing platform, lessons, and a publishing arm. Carlsen developed this app ever since he became a world champion in 2013. Hence, the grandmaster wants to improve the app’s profitability and marketability.
With Queen’s Gambit coming into play, the app is receiving rave reviews, with the Apple app store rating it 4.7/5. Notably, it went on to become the only publically traded chess company in the world on the Oslo Stock Exchange.
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NEW YORK, NY – NOVEMBER 12: Reigning Chess Champion Magnus Carlsen speaks during the press conference after a draw at 2016 World Chess Championship at Fulton Market Building on November 12, 2016 in New York City. (Photo by Jason Kempin/Getty Images for Agon Limited)
The company saw its revenues and expenses grow in the last year. The third-quarter earnings grew from 176% year-over-year to $5.5 million. A significant rise for the company. Despite those encouraging numbers, the company recorded a $5.3 million pre-tax loss in the quarter. But, as of November 15th, Play Magnus had $22 million in cash. It garnered interest across the world from its PogChamps tournament, as it comprises many chess players and celebrities.
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The impact of Queen’s Gambit
The TV show was one of the best-rated shows on Netflix last year. It, in fact, reached about 62 million households in the first 28 days of streaming. Not only did Play Magnus see a boom, but even other apps like chess.com saw an increasing curve in its app users, and it gained 1 million accounts for each month, starting from the release of the show.
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YEKATERINBURG, RUSSIA – APRIL 28, 2021: Russian chess grandmaster Ian Nepomniachtchi, who has won the FIDE Candidates Tournament with a round to spare, gives a press conference following the FIDE Candidates Tournament. Nepomniachtchi will challenge World Chess Champion, Norwegian chess grandmaster Magnus Carlsen at the 2021 FIDE World Chess Championship that is scheduled to take place in Dubai, United Arab Emirates, on November 24-December 16, 2021. Donat Sorokin/TASS (Photo by Donat SorokinTASS via Getty Images)
Currently, the show is still available on Netflix and continues to attract a new audience. As for Magnus Carlsen, the app provided a massive boost to his business. He is currently defending his 4th World Championship title against Russia’s Ian Nepomniachtchi. They have drawn five games out of 14 and now look for a winner in Game 6.
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