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 /CNW/ - 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."
*https://www.moengage.com/industry-reports/the-state-of-mobile-gaming-industry-in-india/
**https://hc.games/indias-gaming-market-in-2023/
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
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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multimedia:https://www.prnewswire.com/news-releases/q-gamesmela-reaches-one-million-download-milestone-302019856.html
SOURCE QYOU Media Inc.
