BWI: Virtual Currency is No.1 Purchase According to Landmark Digital Goods Buyers and Sellers Study Conducted by VGMarket and PlaySpan

Press release from Business Wire India
Source: PlaySpan India Pvt Ltd
Tuesday, September 15, 2009 12:02 PM IST (06:32 AM GMT)
Editors: General: Consumer interest, Entertainment; Business: Advertising, PR & marketing, Banking & financial services, Information technology; Technology
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Virtual Currency is No.1 Purchase According to Landmark Digital Goods Buyers and Sellers Study Conducted by VGMarket and PlaySpan
Free to Play Games Now Account for More than Half of All Digital Goods Transactions

Mumbai, Maharashtra, India, Tuesday, September 15, 2009 -- (Business Wire India) -- VGMarket, a market research firm specializing in the video game industry, and PlaySpan, the leader in monetization solutions for online games, virtual worlds, and social networks, today announced the first installment of results from its landmark study that examines in-depth, individual digital goods purchases and sales behavior across multiple game genres and platforms. The survey is comprised of 2,425 respondents from across the PlaySpan Marketplace, Spare Change, and Ultimate Game Card.

Sponsored by PlaySpan and conducted by VGMarket, the research revealed that over half of gamers (58%) made purchases in Free to Play (F2P) games over the last 12 months. This was followed by one third (34%) of buyers making purchases in MMOs (massive multiplayer online games) and nearly a quarter (23%) having made purchases in Social Network games over the same time period.

F2P games are also enjoying the highest spend. According to the report, the median expenditure was highest among Free to Play games ($75), followed by MMOs ($60) and Social Networks ($50) respectively. The average respondent is currently playing three online games and 80% report buying digital goods for their own use while 20% said they purchase them for gifts.

Other survey results include:

The most popular digital goods purchased include:
1. In-game currency (71%)
2. Weapons (37%)
3. Subscription Codes (30%)
4. Wearables (26%)
5. Power-Ups (25%)
6. Virtual Gifts (19%)
7. Maps and Levels (16%)

In addition the study found that the median number of transactions was higher for virtual currency (7), than for any other type of digital goods (5).

"Each type of digital good has a unique level of demand, and the amount of money that a consumer spends on digital goods varies significantly by the genre of the game," said Michael Gluck, President, VGMarket. "Publishers can use this insight to forecast revenue, make the right development investments, and effectively allocate marketing dollars."

"With this study we performed a deep dive into our own customer base across the PlaySpan Marketplace, Spare Change, and Ultimate Game Card. We feel this data provides terrific insight into individual digital goods buying patterns and will be invaluable to our clients who need to make informed decisions on the type of game offerings they make available to their customers," said Eric Hartness, Chief Marketing Officer of PlaySpan.

PlaySpan may release additional components of the study results including individual digital goods seller data. Please visit PlaySpan at GDC Austin, booth 801 to discuss the study in more detail. Michael Gluck will also present the results at the Engage Virtual Goods Conference on September 23.

Please note: The report highlights detailed responses to PlaySpan's Digital Goods Buyer Survey, which was completed by 2,425 customers of PlaySpan Marketplace, Ultimate Game Card, and Spare Change. Responses were collected between July 15 and July 31, 2009.

About VGMarket

VGMarket is a market research firm specializing in the video game industry, with experience providing online survey research, concept testing, and play testing for top tier franchises such as The Sims, Battlefield, Need for Speed, Lord of the Rings, Littlest Pet Shop, Rolando, and Dead Space. Clients include EA, Capcom, 2K, Ubisoft, Smith & Tinker, PlaySpan, ngmoco, and Zynga. Known for low prices, fast turn-around, and high quality methodology, VGMarket is widely regarded as the best value in video game market research.

About PlaySpan,Inc.

PlaySpanT is the leader in monetization solutions for over 1,000 online games, virtual worlds, and social networks. PlaySpan's patent-pending in-game virtual goods commerce and micropayment platform enables game publishers and developers to generate new revenues, acquire new users, and extend the loyalty of existing users.

PlaySpan also offers global payment solutions through its subsidiary PayByCash® with 85 payment methods in 180 countries. The ULTIMATE GAME CARD® is used by consumers to pay for 300 multiplayer games and around 700 games on popular social networking sites. It is available in about 45,000 retail locations across North America and growing rapidly worldwide.

Social network payment solutions are available through Spare Change©. Acquired by PlaySpan in April 2009, Spare Change is the first and leading payments platform designed specifically for social networks. Featured on over 700 applications, across Facebook, MySpace and Bebo, Spare Change empowers developers to successfully monetize their applications through micro payments. The Spare Change platform enables users to make safe, convenient, and friendly 1-click purchases through a variety of funding sources.

PlaySpan is headquartered in Silicon Valley with offices in Virginia, Ohio, and Mumbai. Investors include Easton Capital, Menlo Ventures, STIC and Novel TMT Ventures. The company has recently won the 2009 OnHollywood Category Award for Best Gaming Company.

For more information about PlaySpan, visit: http://corp.playspan.com

For more information about Spare Change visit: www.sparechangepayments.com


CONTACT DETAILS
Vinayak Rao, PlaySpan India Pvt Ltd, +91 9820045958, Vinayak.rao@playspan.com

KEYWORDS
CONSUMER, ENTERTAINMENT, MARKETING, BANKING, IT, TECHNOLOGY

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