Mobile game downloads surged at a growth rate of 8% in 2022 and for the first time ever surpassed the 90-billion mark. However, this growth didn’t translate into consumer spending, as spending on mobile gaming saw a 5% decline to US$110 billion as consumers became more frugal with their purchasing decisions due to rising inflation and the overall macroeconomic environment. As the economic turmoil settles and with an ever-increasing user base of mobile gamers, a well-drafted mobile game monetization strategy has greater potential to turn a mobile game into a real revenue generating product.
Effective mobile game monetization enables game developers to secure more revenue from their gaming apps. Two of the most crucial aspects that developers should consider before commencing mobile game development are how to monetize it and which models to implement. It should be a top priority to plan and integrate the monetization strategy from the very beginning as developers draft the blueprint for the game.
As we discussed in our recent article on in-game advertising, it constitutes one of the key monetization models leveraged by game developers. In this article, we’ll explore other prominent and emerging mobile game monetization strategies and how developers can tap into different monetization approaches and strike the right balance.
Let’s explore some of the most popular and effective ways to monetize mobile games: