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Gamers Spent $2.3 Billion On Virtual Goods Last Year

Sites include , . Published on March 16th, 2012. Written by Anthony West.

Social gaming is big business; so big that as an industry, it generated over $2.3 billion in virtual goods sales over the course of 2011. The figure was part of data released by PlaySpan, the company which conducted the study on social gaming and resulting revenues that are being generated.

According to the study, 1 in 4 gamers spent money on virtual goods in 2011 and the average gamer splashed out $64 on virtual goods over the year. Now, $64 may not seem like a lot of money, but when you consider the millions of people who interact on Facebook and other online platforms buying virtual goods, it’s not hard to see why the industry is now worth $2.3 billion.

The rise of social gaming in dollar terms means that since 2009 there has been a 100% increase in sales generated. Speaking on the potential of the virtual goods market in general, PlaySpan’s founder Karl Mehta said that, “Consumer acceptance of virtual goods represents a huge growth opportunity, not just for game publishers, but for all digital content companies”. He went on to say further that, “We believe we will continue to see a positive growth trend in games and that virtual goods will expand across multiple industries, such as music, movies, social gifting, and rewards, to name just a few”.

At $2.3 billion in sales for the year, I suppose Mr Mehta has all the reasons in the world to be bullish about virtual games; and with Facebook coming strong in 2012, the rewards in 2013 may be even greater.

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