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Mobile Gaming Will Soon Be A $40 Bn Money Spiner With Freemium Model
It’s no secret that the Mobile Segment is next surefire bet to generate long–term and sustainable revenue. However, entrepreneurs are now diving deep into the ecosystem to determine which sub–segments are more reliable and profitable.
Concluded last week, the Techcircle Digital Gaming Forum 2013 offered some interesting insights into the world of Mobile Gaming and how multiple companies are trying to experiment and find out how to optimize the platform for continual and escalating revenue generation. Nitish Mittersain, founder and CEO, Nazara Group, made a presentation on the topic ‘Mobile Gaming-The Changing Landscape’ and during the same he discussed the evolving and dynamically changing scenario of mobile gaming from Indian as well as a Global Perspective.
What is expected? Mittersain expects that the Mobile Gaming Segment will be a multi–Billion Dollar industry, grossing about US$ 40 Billion and will easily engage more than a Billion people on a regular basis. Mobile Gaming or mGaming is one of the fastest growing segments and the phenomenon is observed across device categories including Tablets. Gaming on Tablets is currently growing at a very healthy rate of 400%.
Asia is the most prominent Market: Asia Pacific alone accounts for almost half (48%) of the total global revenues from mGaming, followed by North America and Western Europe. With just about 100 Million mGamers, Middle East and Africa generated US$ 260 million in revenues.
What works in mGaming? Gaming as a sector is growing regardless of categories. But to generate revenue, developers have to choose a revenue model and it appears ‘Freemium’ is the most dependable option. Coupled with the Social Gaming phenomenon, Freemium Games, which offer ‘Free Entry’, but charge for advanced features, full–game functionality or virtual goods, account for about 70–80% of the entire smartphone game revenues.
India is very active: The great Indian continent which was hereto perceived as frugal nation when it came to spending on digital purchases is currently spending more than Rs. 5 Crores (US$ 0.8 Million) monthly on App stores like Google Play, iTunes App Store, among others.
Mobile Gaming has steadfastly become a reliable source to make good money. Essentially, innovative and creative Developers can now jack–up their earnings simply by allowing patrons to start playing instantly and charging them at later stages. What do you think?
Image Source | mashable
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Source: http://www.watblog.com/2013/12/02/mobile-gaming-will-soon-be-a-40-bn-money-spiner-with-freemium-model/
