S04 E07 Karl Knights and Lirui Ding On The Data And Trends Defining Mobile Gaming In 2024
Feb 16, 2024
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Karl Knights from data.ai delves into mobile gaming data and trends for 2024, revealing monetisation methods and predictive models. Lirui Ding discusses Esports' impact on engagement and community building, along with VR's potential in mobile gaming revolution.
Mobile gaming market leveled out in 2024 with a 2% global revenue decrease, excluding China's 4% increase in-game spend in 2023.
Strong intellectual property (IP) games like Monopoly Go and the GTA trilogy succeeded in 2023 due to social features and in-app purchases, indicating potential for nostalgic games.
Deep dives
Gaming revenues and spend
Gaming revenues saw a decline of around 6% in 2022, but leveled out in 2024, with a decrease of only 2% globally. However, when excluding the Chinese market, spend within games increased by 4% in 2023. Downloads have leveled out, while in-game spend continues to be significant, especially in RPG titles like Genshin Impact and Pokemon Go. Mobile ad spend also saw an 8% increase year over year in 2023, indicating the continued monetization through ads in gaming.
The importance of strong IP and simple game dynamics
Games with strong intellectual property (IP) performed considerably well in 2023, such as Monopoly Go and the GTA trilogy. The presence of social interaction capabilities, mini-games, and enticing in-app purchases contributed to their success. Additionally, Dream Games' Royal Match found a new audience with little crossover from Candy Crush, showcasing the potential for nostalgic games to make a comeback and attract new players.
Expanding genres and the rise of multiplayer
Within the gaming industry, the party genre stands out with an increase in downloads and in-app spend. The blending and melding of monetization models and genres is becoming prevalent, with hyper-casual and casual games exploring puzzle subgenres. The rapid growth of multiplayer games, including the emergence of VR esports, presents exciting opportunities for the industry. VR esports allows for a new platform, changing player experiences, and immersive viewing experiences through VR headsets.
The potential of VR in esports
The VR industry is experiencing improvements in hardware and content, bringing VR esports closer to mainstream acceptance. VR esports provides a new platform and channel for engaging with audiences, expanding the industry and diversifying monetization opportunities. The development of multiplayer VR games offers a unique player experience, requiring different skill sets and presenting new perspectives for viewers. The potential for location-based VR esports further enhances the immersive experience, projecting additional content into physical environments.
Past predictions into mobile gaming foresaw an industry slowdown in 2024, but recent data reveals a different reality. Peggy Anne Salz welcomes two mobile mavens onto the show this week to lift the lid on the actual state of the market, and the trends studios should pay the closest attention to in the coming year. First, Karl Knights, Global VP of Customer Success at mobile data and analytics platform data.ai, digs into the latest data in the State of Mobile 2024 report. He shares surprising findings, reveals the monetisation methods dominating the app stores and walks us through the models that can predict future app performance. Then, Lirui Ding, Senior Associate at Transcend Fund—an audience-first gaming venture firm—dives deep into the rapidly evolving world of Esports. He details how game studios can use Esports to elevate engagement and community building and new ways VR is poised to revolutionise mobile gaming.
CHAPTER TIMESTAMPS
00:00 - Intro
00:50 - The truth about mobile growth and ad spend
05:49 - Breaking down successful games and subgenres
Check out more world-class speakers sharing their insights and expertise at one of our events. You can find details of our next event here - https://www.pgconnects.com/next-event
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