Mobile Gaming Has Become Driving Force Behind Rapid Growth Of The Global Video Gaming Market

PALM BEACH, Fla., Aug. 3, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - In today's world there is one thing that most people have in common… they ALWAYS have their phone with them, wherever they go, whatever they are doing.  Reports, like Statista have shown that Mobile gaming has become the driving force behind the rapid growth of the global video gaming market. In 2020, smartphone games accounted for almost 50 percent of video gaming revenue worldwide and as mobile penetration rates and smartphone usage continue to accelerate on a global scale, mobile games revenue is on track to surpass the 100 billion-dollar-mark by 2023. Unsurprisingly, this mobile revolution is also significantly transforming the gaming landscape in the United States, one of the largest video game markets worldwide. In 2020, mobile games revenue in the U.S. reached a record $10.73 billion U.S. dollars, and thanks to a wave of technological advances, digital innovation, and nationwide lockdowns amidst the coronavirus (COVID-19) pandemic, the number of U.S. mobile video game users is now higher than ever.   Active tech in news today include:  Tapinator, Inc. (OTCPK: TAPM), Take-Two Interactive Software, Inc. (NASDAQ: TTWO), Activision Blizzard, Inc. (NASDAQ: ATVI), GameStop Corp. (NYSE: GME), Skillz (NYSE: SKLZ).

Statista continued saying that in 2020, the mobile gaming content market in North America was worth an estimated 25.2 billion U.S. dollars, with healthy growth forecasted for the future. Looking at revenues from the free-to-play (F2P) market, which accounts for the lion's share of total digital games revenue in North America, mobile stands out as the most profitable category by a significant margin.   In 2020, the F2P mobile games market generated revenues of around 13.2 billion U.S. dollars in North America, fueled by the business model's low entry barrier for players and the increasing number of mobile games now moving towards the free-to-play format. While players can download and access F2P games for free, they can enhance in-game features and unlock additional content via purchase. Considering that many players are willing to pay to upgrade their mobile gaming experience, F2P games have become a much-loved monetization tool among mobile marketers. Overall, U.S. gamers spent an average of 179 U.S. dollars on smartphone games in 2020. 

Tapinator, Inc. (OTCPK: TAPM) BREAKING NEWS – Tapinator Announces Record Q2 2021 Financial Results - Tapinator, ("Tapinator," the "Company," "we," "our" or "us"), a developer and publisher of category leading games for mobile platforms, today announced unaudited financial results for the three and six months ended June 30, 2021, and the filing of its quarterly report for the period ended June 30, 2021.

Highlights:

- Revenues Increase 21% Year-Over- Year to $1.4 Million

- Bookings Increase 13% Year-Over-Year to Record $1.4 Million

- Adjusted EBITDA Increases 20% Year-Over-Year to Record $374k

- Net Income Increases 239% Year-Over-Year to $216k

- Basic EPS of $0.38 and Fully Diluted EPS of $.37

The quarterly report and financial statements have been published on OTC Markets and may be found at http://www.otcmarkets.com/stock/TAPM/disclosure.  The results provided below replace, in its entirety, any guidance or projections previously issued by the Company.

For the three months ended June 30, 2021, Tapinator achieved record revenue of approximately $1.4 million, record bookings of approximately $1.4 million, net income of approximately $216,000 and record adjusted EBITDA of approximately $374,000.  The Company's quarterly revenue, bookings, net income and adjusted EBITDA represent year-over-year improvements of 21%, 13%, 239% and 20%, respectively.  The Company also announced basic and fully diluted net income per share of $0.38 and $0.37 per share, respectively.

For the six months ended June 30, 2021, Tapinator achieved record revenue of approximately $2.6 million, record bookings of approximately $2.8 million, record net income of approximately $453,000 and record adjusted EBITDA of approximately $574,000.  The Company's quarterly revenue, bookingsand adjusted EBITDA represent year-over-year improvements of 26%, 23% and 42%, respectively.  The Company also announced record basic and fully diluted net income per share of $0.82 and $0.80 per share, respectively.

Ilya Nikolayev, CEO of Tapinator commented, "We are extremely happy with our record performance in Q2. As we have previously noted, we are proud of the quality, feature set and overall performance of Video Poker Classic (VPC). We continue to incrementally improve the game and, in Q2, we launched a new Unlocks / Avatar feature, added more special events to the game and optimized the experience for our paying players.

We believe that the foundation that we have built out for VPC, including various reengagement and monetization systems, is now ready to be leveraged for a second social casino product. We are currently in design/development of a social casino game that is being built on top of the framework created for VPC. We believe that this approach for building this title will result in a shorter development timeline and a very high quality product, which will translate into strong engagement and monetization metrics.

Also, in Q2, we launched our newest idle game, Idle Industries, globally. The game had a great reception by both players, who rated it an average of 4.7 out of 5.0 stars, and Apple, which featured the title in the United States, Germany, France, the UK and a multitude of other countries. We have since gone live with five updates to the product, through which we have launched significant features such as Special Events as well as made various optimizations. In the coming weeks, we will be rolling out version 1.3 of the game, which includes a number of significant enhancements. We are proud of our team's work in creating a top quality idle game.

Finally, we are in development on NFT500, our NFT art collection and casting platform, and we expect to go live with the first version of the product in September of this year. To date, we have acquired over 100 NFT artworks and collectibles from more than 50 different artists and brands.  Examples of such artists and brands include XCopy, Pak, Sarah Zucker, Art Blocks, Hackatao, Bored Ape Yacht Club, Larva Labs, Slime Sunday and Playboy. When we first conceptualized this product, it was our belief that displaying/casting NFTs will be an important direction for the NFT industry. Today, we are even more convinced that this is the case.  CONTINUED…  Read the full financial report with full results for TAPM at: https://www.financialnewsmedia.com/news-tapm

In other gaming industry news and developments of note:

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) recently announced that it has acquired privately-held Dynamixyz, a world-class leader in video-based facial animation services. Founded in 2010 in Cesson-Sévigné, France, Dynamixyz owns and operates a suite of leading-edge, proprietary motion capture, facial-analysis, and full 3D processing tools and technology that combines computer graphics, computer vision, and machine learning. Over the past decade, Dynamixyz has been a valued partner of the entertainment industry, including Take-Two's wholly-owned labels, Rockstar Games and 2K, and has worked on such acclaimed projects as Red Dead Redemption 2 and NBA 2K21, the animated series Love, Death & Robots, and movies, including Avengers: Endgame. Financial details of the acquisition were not disclosed.

Take-Two's acquisition of Dynamixyz is the Company's latest strategic initiative to invest further in its internal development capabilities and to continue its goal to be the most creative, innovative, and efficient entertainment company. Dynamixyz is led by Gaspard Breton, CEO, PhD, Nicolas Stoiber, CTO, PhD, and Olivier Aubault, Managing Director, PhD, and is comprised of a team of more than 15 professionals, with more than 40 combined years of related R&D acumen and expertise. Dynamixyz will operate as a division of Take-Two and work exclusively with the Company's publishing labels and studios. Mr. Breton will continue to oversee Dynamixyz and report to Scott Belmont, Executive Vice President and Chief Information Officer for Take-Two Interactive Software.

Activision Blizzard, Inc. (NASDAQ: ATVI) intends to release its second quarter 2021 results after the close of the market on Tuesday, August 3, 2021. In conjunction with this release, Activision Blizzard will host a conference call that will be broadcast over the internet.  Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time.

Activision Blizzard's mission is to connect and engage the world through epic entertainment has never been more important. Through communities rooted in our video game franchises we enable hundreds of millions of people to experience joy, thrill and achievement. We enable social connections through the lens of fun, and we foster purpose and a sense of accomplishment through healthy competition. Like sport, but with greater accessibility, our players can find purpose and meaning through competitive gaming. Video games, unlike any other social or entertainment media, have the ability to break down the barriers that can inhibit tolerance and understanding. Celebrating differences is at the core of our culture and ensures we can create games for players of diverse backgrounds in the 190 countries our games are played.

GameStop Corp. (NYSE: GME) recently announced that the Company plans to rebrand EB Games in Canada. By the end of this year, EB Games' Canadian locations and online store will assume the GameStop brand and name. This decision follows its receipt of feedback from our valued customers and stockholders.

It also recently announced the continued expansion of its North American fulfillment network and entry into a lease of a 530,000 square foot facility in Reno, Nevada, which is expected to be operational in 2022. The Company's new presence in Reno, Nevada will position it to grow product offerings and expedite shipping across the west coast. This expansion follows GameStop's entry into a lease of a 700,000 square foot facility in York, Pennsylvania.

Skillz (NYSE: SKLZ), the leading mobile games platform bringing fair and fun competition to players worldwide, recently announced it has formed a strategic partnership with Exit Games, global developer of Photon, the world's most advanced synchronous multiplayer gaming technology.

Headquartered in Hamburg, Germany, Exit Games allows developers to create and host real-time, synchronous multiplayer games. Its nearly 600,000 trusted partners include some of the most well-respected game publishers and developers in the world, such as EA, Square Enix, and Ubisoft, among others, powering gameplay in over 700,000 applications.

Skillz's investment in Exit Games will give the Company permanent access to Exit's technology to power its esports tournaments and platform exclusively. The partnership will dramatically accelerate Skillz's timeline to support multiplayer synchronous content on the platform, while also enabling Skillz to build unrivaled features in tandem with Exit's gaming technology. Publishers and developers worldwide will now have the ability to build games on the Skillz platform in entirely new genres, such as battle royale, while continuing to provide gamers with the confidence that their contests will always live up to the Skillz promise of fairness.

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