Social games developer reports major first quarter growth
News on 13 May 2015
News on 13 May 2015
FlowPlay, a virtual games and technology developer that has diversified into social casino action, has announced year-on-year revenue growth of more than 240 percent in Q1-2015, highlighting an unprecedented year in terms of employee, product and customer growth.
The casual games developer reached its first million dollar revenue month during in 2014 and has continued to surpass revenue levels since, management reports.
A major driver in this success has been a strategic focus on the social casino market, where FlowPlay claims the industry’s highest monetisation rates on desktop, supported by independent researcher SuperData Research.
The company’s core product suite includes two consumer-facing games, Vegas World and ourWorld, as well as a white-label social casino platform available in both out-of-the-box solution and back-end development product form.
The company’s client partners include Atari, Traffic Generation and Joju Games, who have tapped into a platform that has monetised at over US$3/MAU (monthly active user). With average revenue per daily active user (ARPDAU) of 47 cents,
FlowPlay social casinos more than double the industry average of 23 cents, according to SuperData Research.
As part of the company’s corporate strategy, FlowPlay has recently engaged investment banking firm, Innovation Capital as financial advisor to run a strategic alternatives process by conducting a thorough review of FlowPlay’s business and assets while contacting third-party entities about potential deals.
Stephanie Llamas, a senior analyst at SuperData recently opined: “FlowPlay’s multiplayer approach is a clear differentiator. Combined with partnerships to bring brands like Atari into the social casino sector and help build hybrid casual casino games, the company is at the forefront of several early trends that could be game changers for the industry in the coming year.”
Vegas World, the first social casino MMORPG developed by FlowPlay, was recently launched. The company was founded in 2006 and primarily funded by Intel Capital and the creators of Skype.
