SPYR's Focus on Mobile Games Has Company Ideally Positioned to Grow within Game Industry's Global Market
NEW YORK, NY -- (Marketwired) -- 07/13/17 -- SPYR, Inc. (OTCQB: SPYR) has already made a big splash in the mobile games space when it published its flagship real time, true cross platform, MMO game Pocket Starships. And since then, the company has continued to broaden the game's appeal with its Hivespawn update, a worldwide marketing and advertising campaign, and now SPYR is set to make the game even more popular with a number of future updates.
These updates will allow Pocket Starships to fully integrate itself into the esports industry, and in Q4 2017, gamers will see the incorporation of certain Star Trek-based content into Pocket Starships as well with a recent licensing deal between SPYR and CBS Consumer Products. In the agreement, CBS is licensing its intellectual property (IP) from the long-running Star Trek television series: Star Trek: The Next Generation, Star Trek: Deep Space Nine and Star Trek: Voyager to SPYR.
Because Pocket Starships can be played on virtually any device, it allows SPYR to recognize revenue from almost all categories in the games market, but it is Pocket Starship's mobile appeal that has it ideally positioned to grow within the game industry's global market. According to Newzoo, in 2017, smartphone and tablet games combined are expected to bring in 42% of the gaming market's global revenues. This figure outdistances revenues brought in by the global sales of both console and PC games.
The games market has seen remarkable growth over the last 5 years, and SPYR has seemingly moved into this industry at just the right time. In 5 years, global revenues have grown from about $70 billion to over $100 billion today. The industry's 56% growth is highlighted in Newzoo's 2017 Global Games Market report.
Newzoo states that 2017 is a landmark year in the history of the games market with revenues exceeding the $100 billion mark to total almost $109 billion. The reports says, "A growth of 56% in five years illustrates how game companies have not only pioneered new ways of engaging and entertaining consumers, but have also led the way in innovating business models to suit the digital age."
In the report, Newzoo estimates that revenue growth will continue to climb to over $128 billion by 2020. So, even to the casual observer it's clear to see that SPYR has wisely gone in just the right direction in the games industry, and the company's executives continue to make all the right moves to allow for current and future growth of Pocket Starships.
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Source: SPYR, Inc.