OBJE Looks at High-Growth Mobile Gaming App Market with Phantasmic
Jan 07, 2013 (Close-Up Media via COMTEX) --
With the first gaming app produced by OBJ Enterprises' joint venture with Source Street entering beta testing before the end of the year, the company announced it anticipates a successful launch in 2013.
According to recent figures by the mobile analytics firm Flurry, mobile apps for Apple iPhone and iPad as well as Google Android devices generated about $10 billion in revenue this year-an incredible 80 percent of which came from gaming apps. In fact, gaming apps dominate all other mobile categories, with users spending 43 percent of their app time on games.
"The incredible financial success of gaming apps in 2012 and beyond is a tribute to the power of the 'freemium' business model," said OBJE CEO Paul Watson. "Mobile games are driving the growth in the multi-billion-dollar global video game industry, and free-to-play apps represent the most prolific sector in this new era of digital distribution."
According to a release, Novalon Games, the gaming developer founded by the joint venture of OBJE and Source Street, is set to begin beta testing Phantasmic, the first of two new iOS gaming apps scheduled for a 2013 release. Gaming apps like Phantasmic give consumers free access to the core of a game, but charge for virtual items and power-ups through micro-transaction.
The game maker is also developing Wayfarers, an online roleplaying game.
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