It’s no secret that mobile gaming is now one of the biggest industries in the world. With more than 3 billion players and global market revenue of over $121 billion in 2022 (Clement, 2021), it’s easy to think that mobile game developers are enjoying huge profits with less effort.
But that’s actually not the case. In fact, a lot of mobile gaming companies are suffering from very low revenue because gamers are not willing to purchase their games.
Enter microtransactions, which are essentially in-game purchases that allow a gamer to enjoy certain upgrades like a new character, weapon, or ability. It is where mobile gaming companies thrive because it helps them generate revenue by enticing gamers to make in-game purchases that will complete their gaming experience. For mobile game developers, finding high-risk merchant account providers can help ensure that these in-game purchases are processed safely and efficiently every time.
Why Microtransactions Are Good for Mobile Gaming
Let’s face it: most of the people in the gaming community don’t like microtransactions because they seem like a form of gambling.
Players who want to experience better gaming need to make a purchase, after all, and not a lot of gamers are willing to pay for the conveniences that they experience when playing their favorite games.
But microtransactions have become an essential part of the mobile gaming economy because:
They keep revenue flowing. A lot of mobile gaming developers suffer from meager profits that make it difficult—and even impossible—for them to come up with new games or improve existing ones. But with microtransactions, revenue can continue to flow so that they can support the continuous development of a game.
They garner more recognition for a game. You probably know about the success of Fortnite, but did you know that this massively successful franchise thrived only because of microtransactions?
Fortnite wasn’t free when it was released by Epic, but a change in strategy made it one of the most successful games of the last decade. Fortnite was released as a free-to-play game with the help of microtransactions to support it and has since become a huge hit that’s still being patronized by a lot of gamers these days.
Benefits of the Microtransactions Model
Microtransactions allow developers some breathing room to get more creative with how they market their games.
Although they’re small purchases, microtransactions set the tone for how a game should be enjoyed. Most of the time, die-hard players wouldn’t mind paying for these smaller purchases just to enjoy the totality of a game.
Microtransactions have definitely made a huge difference in how mobile gaming development companies do business. These simple strategies are lucrative and improve the user experience at the same time.
So, if you’re one of those mobile gaming developers that struggle to generate revenue in such a competitive industry, this is your chance to change things up with microtransactions.
Citation
Clement, J. (2021, May 25). Mobile gaming market worldwide – statistics & facts. Statista. https://www.statista.com/topics/7950/mobile-gaming-market-worldwide/#topicHeader__wrapper
