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OBJE Targets High-Growth Mobile Gaming App Market With Phantasmic
By: Business Wire
Dec. 31, 2012 05:00 AM
With the first gaming app produced by OBJ Enterprises’ (OTCBB: OBJE) joint venture with Source Street, LLC, entering beta testing before the end of the year, the company anticipates a successful launch in 2013 that will capture a lucrative slice of the booming mobile gaming market.
According to recent figures by the mobile analytics firm Flurry, mobile apps for Apple (NASDAQ: AAPL) iPhone and iPad as well as Google (NASDAQ: GOOG) Android devices generated about $10 billion in revenue this year—an incredible 80 percent of which came from gaming apps. In fact, gaming apps dominate all other mobile categories, with users spending 43 percent of their app time on games.
“The incredible financial success of gaming apps in 2012 and beyond is a tribute to the power of the ‘freemium’ business model,” said OBJE CEO Paul Watson. “Mobile games are driving the growth in the multi-billion-dollar global video game industry, and free-to-play apps represent the most prolific sector in this new era of digital distribution.”
Novalon Games, the gaming developer founded by the joint venture of OBJE and Source Street, is set to begin beta testing Phantasmic, the first of two brand new iOS gaming apps scheduled for a 2013 release. Gaming apps like Phantasmic give consumers free access to the core of a game, but charge for virtual items and power-ups through micro-transaction.
The game maker is also developing Wayfarers, a sophisticated online roleplaying game, for release in the coming year as well.
Obscene Interactive is a division of OBJ Enterprises, Inc. that is working to develop innovative products to service the fast-growing social gaming sector alongside companies such as Glu Mobile Inc. (NASDAQ: GLUU), The9 Limited (NASDAQ: NCTY) and Majesco Entertainment Co. (NASDAQ: COOL).
Follow OBJ Enterprises on Twitter at www.twitter.com/OBJEnterprises.
About Obscene Interactive
Obscene Interactive, a subsidiary of OBJ Enterprises, Inc. (OTCBB: OBJE), is an emerging global developer of social gaming applications. OBJE's cutting-edge technology platform enables its titles to be accessible to a broad audience of consumers all over the world, supporting multiple platforms for universal appeal. Obscene Interactive is focused on delivering the best in social gaming solutions to the mass market. For investment information and performance data, please visit www.ObsceneInteractive.com/investors.html.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
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