The game industry is beginning to focus more seriously on the mobile space. Gaming has long been a primary form of entertainment for many people around the world, but the advent of mobile technology has made it possible for people to play games wherever they are at any given time. The economic potential of mobile games is often understated, even within the game industry itself, but these games are part of one of the most lucrative business sectors in gaming today.
Revenue generated by the game industry, as a whole, is now on par with that of the film industry. In some cases, game sales have outpaced the financial success of many high profile movies, generating more than $24 billion on average compared to the $10 billion that many box office successes manage to generate on an annual basis. Mobile games account for a significant portion of this revenue, as they have proven to be popular among a wide array of consumers.
Mobile games popularized the free-to-play business model, which means that games are free to acquire and play, but they have features that must be paid for. This business model thrives on the existence of microtransactions. For a small fee, consumers can access a game’s additional features. Microtransactions have become one of the best ways for a mobile game to generate money for its developer.
Notably, mobile games are more popular in Asia than anywhere else. While an estimated 58% of Americans play games on a regular basis, many of these people do not play games from their mobile devices. In Asia, these games are quite popular because of their accessible nature. On average, people throughout the world spend three hours a day playing games. Notably, nearly half of all gamers are female, which is often an understated fact due to the perception that gaming is a primarily male-oriented hobby. Women happen to make up the majority of those playing mobile games in some countries.