Roblox Weekly Engagement Tracker — CCUs Flatish W/W While Long-Tail Remains Healthy, Though Y/Y Declines Remain Steep Against Peak 2025 Viral Experiences

研报英文原文证据摘录

J P M O R G A N

North America Equity Research

10 August 2026

Roblox

Weekly Engagement Tracker — CCUs Flattish W/W

While Long-Tail Remains Healthy, Though Y/Y Declines

Remain Steep Against Peak 2025 Viral Experiences

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To better gauge demand trends & provide real-time insights, last week we

reintroduced our proprietary weekly engagement tracker for Roblox, where we

analyze total Roblox platform concurrent users (CCUs), along with CCUs across

select experiences. Our analysis suggests that this week’s engagement trends

remained broadly stable W/W. Peak platform engagement was flattish W/W at

20.0M CCUs this past weekend (vs. 19.9M last week — see Figure 1) and weekday

peak CCUs declined -5% W/W on average (vs. flat W/W last week). On a Y/Y

basis, average peak CCUs have declined -22% through the first 8 days of August

(albeit there was one less weekend in the same period a year ago — See Figure 2)

and we do not expect declines to improve given August is slated to be the most

difficult Y/Y comp of the viral experience era, with average peak CCUs of 21.5M

last year. We believe typical summer seasonality continues to play a role in the

elevated peak platform CCUs of ~20M+ vs. the mid-April trough of ~16-18M.

Viral experiences engagement was also flattish W/W, with the top weekend

experience — +1 Speed Keyboard Escape — reaching peak weekend CCUs of

5.4M (vs. 5.4M last week — see Figure 3) and Steal a Brainrot reaching peak CCUs

of 2M (vs. 2M last week — see Figure 4). There were no new viral hits to call out

and we expect new viral experiences to be less frequent as RFY algo changes

prioritize higher retentive content with deeper engagement, which likely

supports long-tail content engagement. However, we continue to view long-tail

engagement as healthy and robust, with Roblox Platform CCUs maintaining an

elevated level above the pre-2025 viral experience lift despite viral experience

engagement declines, suggesting a dispersion of retention among the viral cohort

of players.

Please reach out for an XLS of our weekly engagement tracker — available upon

request.