Why it matters: It's no secret that Apex Legends had an unbelievably successful launch, but its momentum has been running out recently. According to a new report, the battle royale title saw its digital revenue fall 74 percent between February and April.

Apex Legends' arrival was phenomenal. It attracted 25 million players in the first week, eventually reaching the 50 million milestone. The game brought in a massive $92 million during its February launch month, a record for a free-to-play title. But according to analytics company SuperData Research, Apex Legends made $24 million during April, which it says is "down significantly for the second month in a row." Its monthly revenue is now just over a quarter of what it saw during February.

Apex Legends' revenue looked likely to drop following a release that saw EA pay Ninja $1 million to promote it, but the speed and scale of the fall is drastic. The game wasn't even in the top ten grossing titles for PC or console last month.

It's not only Apex Legends' revenue that is going in the wrong direction. Its Twitch streams, which peaked at 40 million hours viewed during the first week, have now dropped to 10 million hours, while rival Fortnite has remained at 22 million hours.

There are several probable reasons behind Apex Legends falling out of favor, including bugs and cheaters, though other battle royale titles such as PUBG faced, and often still face, the same issues. The bigger problem is the lack of new content. Many were disappointed by the bland rewards in the season one battle pass, and players are clamoring for a new map to be added to the current single offering.

Something that will doubtlessly increase Apex Legends' money-making potential is its expansion to the mobile platform, which EA has confirmed is in the works.