Fast Growing SPYR, INC. Wastes No Time Joining Multi-Billon Dollar Mobile Apps & Games Industry
NEW YORK, NY -- (Marketwired) -- 04/07/15 -- SPYR, INC. (OTCQB: SPYR) entered the digital media space in February with the acquisition of Franklin Networks and its eight online brands. After establishing its footprint in the digital publishing and advertising industry, the company grew its total digital brands to nine when it recently acquired the CelebrityHQ.com web site. Now, SPYR has broadened its footprint even further with the formation of SPYR APPS, LLC.
SPYR APPS will allow the company to develop and expand its digital media offerings, and at the same time, provide additional platforms to push and drive revenue through its digital advertising efforts. SPYR, INC.'s CEO Jim Thompson said his goal since coming on board in early February, has been to position the company in markets where the growth potential was the greatest. He chose well by entering the extremely popular mobile apps and games industry with its explosive growth.
The timing is perfect for SPYR to enter the multi-billion dollar apps and games industry. A recent Entrepreneur.com article highlighting the apps industry found that by 2017, it's expected that over 268 billion app downloads will generate $77 billion worth of revenue. The article points out that in 2015 alone, 1 billion smartphones will be purchased. The popularity of the smartphone isn't slowing down, and with it the popularity of downloading apps is growing exponentially.
With numbers like this it's clear to see why even the digital games industry has gone mobile. According to eMarketer.com, the mobile apps industry is expected to grow 16.5 percent in 2015 with gaming apps accounting for over 30 percent of the U.S. mobile content market in 2015.
Newzoo, an innovative global market research firm primarily focused on the games market, agrees that the mobile market is the future of the games industry. In Newzoo's updated Global Games Market Report, it stated that 2015 would be "the year in which the value of the mobile games market will exceed that of consoles, making it the industry's most lucrative sector."
In that late 2014 report, Newzoo upped its estimates to include a mobile games market that is set to grow to $40.9 billion by 2017, which is a more than a $10 billion rise in just two years from the $30.3 billion the research firm sees the industry producing in 2015.
Newzoo analyst Vincent van Deelen, said of the updated estimates in late 2014, "It is not in our interest to inflate market figures, but the hard facts have forced us to adjust our estimates upward. We have maintained our year-on-year growth rates toward 2017, ultimately leading to a $40 billion+ market in 2017."
With nine online properties and growing, SPYR appears to be focused on expanding its digital publishing and advertising footprint. The company's latest news has it officially planting its flag in the mobile apps and games industry, so it is obviously building a portfolio of companies in the digital media space that should give SPYR one platform after another to entertain a diverse consumer base, and in turn, drive advertising revenue right into the company's coffers.
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Source: SPYR, INC.