Roblox (RBLX)

Roblox is a unique asset, with clear network effects, both with content creators and users.

• Roblox is a unique combination of gaming, social networking, and user-generated content, with no direct competitors having a similar mix.

• The average DAU spends 2.5hours per day in Roblox, plus there is an aging up of the user base.

We believe RBLX’s DAUs, monetization, and operating leverage are likely to surprise on the upside.

Plus there looks to be a sustainable AI advantage angle:

• Given that Roblox is unique and has a highly loyal user base, we think that it is likely to be a significant beneficiary from AI tools improving the quality of product, monetisation, and reducing fixed cost growth from automating highly repetitive tasks such as 'safety.'

Link to Research