3 Ways to Monetize Your Game App
Multiple game developers are considering how they can accelerate revenue from a mobile game and which mobile game monetization approach they should choose. We address all that and more in our comprehensive blog about game monetization. By studying this extensive guide, you’ll learn how to exploit mobile games efficiently, devise mobile game monetization strategies, and uncover monetization patterns.
Mobile game monetization involves the procedures for earning profits from a mobile game. It contains many strategies and techniques that game developers utilize to earn income from their games. Developing a high-quality mobile game demands considerable time, dedication, and resources. None of this is straightforward, nor is it affordable. Hence, you must guarantee that your game is profitable enough to offset your development expenses. However, your final aim is to generate revenue, not simply maintain a neutral balance. While some games quickly become highly profitable upon release, for others, it may take years before they develop. Despite that, certain games fail immediately. All of this rests not only on the quality of the mobile game but also on how developers maintain monetization from the outset. Below are the most crucial monetization recommendations.
1. In-App Purchases
In-app purchases (IAPs) constitute the foremost monetization approach for mobile games. IAPs form the foundation of what we term a freemium game economy. This term is derived from the fusion of free and premium, and here’s the rationale. In this type of economy, players aren’t required to pay anything to install and play a game. However, if they desire a premium in-game experience, they can make in-app purchases. In-app purchases are also referred to as microtransactions and in-game acquisitions. Regardless of the terminology encountered, they all pertain to the same concept. When players make purchases, they expend real currency to obtain specific items or features from the game. Examples of in-app purchases encompass extra lives, coins, weapons, moves, boosters, etc.
2. In-App Ads
In-app ads rank as the second most popular method to monetize a game. In this approach, game developers earn revenue by displaying advertisements to players. Players can access all features in these games for free, although they must view ads during gameplay. Typically, these ads promote other mobile games or non-gaming applications.
The ad-serving process involves three parties:
Players
Publishers
Advertisers
Players accept this monetization approach since it grants them free gameplay. Developers need to exhibit as many ads as possible to earn revenue. Simultaneously, advertisers are content to showcase their ads to potential users. However, ad monetization necessitates careful consideration. The reality is that players don’t particularly relish ads; they tolerate them. Moreover, there are always individuals who vehemently dislike them.
3. Subscriptions
When someone mentions subscriptions, what comes to mind? My immediate association is with Netflix or HBO. Similar to individuals remitting monthly fees to access these platforms, you compel players to pay fees to access certain content in your game. In mobile games, subscriptions represent a form of in-app purchase. However, they’ve become so prevalent that they are now regarded as a distinct monetization approach. Mobile game subscriptions function as one-time purchases that grant players access to additional content. Should players wish to retain access to them, they must regularly remit the fees.
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