Over Ten Million Games Played in One Month
Ad Inventory Exceeds One Million Daily Impressions With Average Engagement of One Hour Thirty-Five Minutes
MUMBAI, India and TORONTO, Dec. 20, 2023 /PRNewswire/ - QYOU Media Inc., (TSXV: QYOU) (OTCQB: QYOUF) a company operating in India and the United States producing and distributing content created by social media stars and digital content creators, has announced that its recently launched version of casual mobile gaming app, Q GamesMela, has continued to hit early growth milestones indicating a very strong response in market to the new app. Q GamesMela has reached its first target milestone of one million downloads in approximately six weeks. In the last month, over ten million individual games were played on the app with users spending an average of one hour and thirty five minutes playing games each week. In addition, the ad inventory has been boosted by this gameplay and now consistently is delivering more than one million daily ad impressions. All of these achievements and early milestones have been accomplished faster than originally projected by the Q GamesMela team which saw the app grow from 500,000 to one million downloads in only twelve days.
The cornerstone and unique user engagement proposition for Q GamesMela has revolved around leveraging its "Freemium model" which combines free play with Real Money Gaming (RMG). In November and December the company has been focused on driving both initial registrations along with user retention and overall time spent on gameplay. All of these metrics have exceeded expectations to date and the data and learnings will be further accelerated in Q1 2024 as monetization and transactions become increasingly meaningful, a result of the rapidly expanding base of users. The drive to monetize effectively will be put to work across a robust monetization scheme targeted to integrate in-app digital purchases, targeted advertisements, subscription models and G-commerce initiatives.
Q GamesMela has also just begun to further leverage the owned and operated assets of the parent company across the strong Tier 2 and Tier 3 viewership of its broadcast and connected TV channels which are well aligned with the target demographic. In addition, the app will increase the use of gaming influencers both directly and via its influencer agency, Chtrbox, to further acquire and retain users. All of these efforts will be focused on maintaining a lower than industry average Customer Acquisition Cost (CAC) and to drive user retention and engagement.
The mobile gaming industry in India continues to experience unprecedented growth. Recent reports have estimated that the valuation of the industry will grow from a current valuation of $2.6 Billion to a projected to $8.6 Billion by the end of 2027.* Currently India is expected to become the fastest growing major gaming market in Asia. Estimates are for the number of players in the country to grow to 641.2 million by 2027 with rising incomes, increased bandwidth and smartphones being the main drivers of growth.**
Curt Marvis, CEO and Co-Founder, QYOU Media, commented "We feel like Christmas came early this year for Q GamesMela. We have set aggressive internal targets for growth and these have all been exceeded in the early weeks of our launch plans. It is gratifying to see users not only download the app, but more importantly exhibit strong metrics for engagement which are the most critical indicators of a product that is proving to be accepted in the market. These are still very early days in our quest to create one of the leading gaming apps in India in the coming months and years, but we are obviously thrilled to see the numbers grow so quickly. 2024 is going to be a big year for us to ride the wave of massive growth around casual mobile gaming in India and we know that we can constantly continue to develop and improve the user experience to increase engagement for our growing community of users and further monetize the app going forward."
About QYOU Media
One of the fastest growing creator-media companies, QYOU Media operates in India and the United States producing, distributing and monetizing content created by social media influencers and digital content stars. In India, under our flagship brand, The Q and on connected TV, via channels Q Kahaniyan, Q GameX, Q Comedistaan, Sadhguru TV and Bollywood Hungama we curate, produce and distribute premium content across television networks, VOD and OTT platforms, mobile phones, smart TV's and app-based platforms. In addition, QYOU has numerous additional content destinations, apps and gaming platforms engaging over 125 million Indian households weekly. Our influencer marketing company, Chtrbox, has been a pioneer in India's creator economy, leveraging data to connect brands to the right social media influencers. QGamesMela is a recently launched casual gaming business leveraging access to the large audience enjoyed by Q India products. In the United States, we power major film studios, game publishers and brands social media marketing efforts on TikTok, Instagram and YouTube via custom content creation, media and creators/influencers. Founded and created by industry veterans from Lionsgate, MTV, Disney and Sony, QYOU Media's millennial and Gen Z-focused content reaches more than one billion consumers around the world every month. Experience our work at www.qyoumedia.com
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SOURCE QYOU Media Inc.