Social casino provider FlowPlay posts impressive growth results
FlowPlay, a leader in virtual world games and technology, announced a year-over-year revenue growth of more than 240 percent through Q1 2015. Highlighting an unprecedented year for the casual games developer in terms of employee, product, and customer growth, FlowPlay reached its first million dollar revenue month during 2014 and has continued to surpass revenue levels since. Recent corporate success can be attributed to a strategic focus on the social casino market, where FlowPlay achieves the industry's highest monetization rates on desktop (as reported by SuperData Research).
FlowPlay's core suite of products includes two consumer-facing games, Vegas World and ourWorld, as well as a white-label social casino platform. With both an out-of-the-box solution and back-end development product - FlowPlay's Vegas World white-label technology provides the flexibility, scalability, and platform and payment integration for partners to quickly and easily enter the social casino market. By providing some of the highest monetization rates in the industry, partners such as Atari, Traffic Generation, and Joju Games have come to FlowPlay to tap into a platform that has monetized at well over $3/MAU (monthly active user). With an average revenue per daily active user (ARPDAU) of 47 cents, FlowPlay social casinos more than double the industry average of 23 cents ARPDAU, according to SuperData Research.
"FlowPlay's multiplayer approach is a clear differentiator," said Stephanie Llamas, senior analyst at SuperData Research. "Combined with partnerships to bring brands like Atari into the social casino sector and help build hybrid casual casino games, FlowPlay is at the forefront of several early trends that could be game changers for the industry in the coming year."
For this distinct approach, FlowPlay recently received top honors at the inaugural eGR North America Awards. In a ceremony held in San Francisco on April 20, FlowPlay took home the "Best Product Innovation" award for their Vegas World white-label social casino solution. Designed to celebrate excellence in the North American online gaming industry, FlowPlay was honored alongside prominent industry leaders including DraftKings, IGT's DoubleDown Casino, and Scientific Games - Interactive.
"In the rapidly growing social casino market filled with single-player slots games, being recognized for product innovation really reinforces our focus on creating engaging multiplayer experiences," said Derrick Morton, CEO of FlowPlay. "As we continue to build out both B2B and B2C sides of the business, this validation of our market position will help guide future product development and corporate growth strategy."
As part of the company's evolving corporate strategy, FlowPlay has recently engaged investment banking firm, Innovation Capital, a leader in the mid-market gaming and leisure industries. Serving as financial advisor to run a strategic alternatives process, Innovation Capital is conducting a thorough review of FlowPlay's business and assets while contacting third-party entities about potential transactions. Innovation Capital will then provide recommendations for consideration by key stakeholders and FlowPlay's Board of Directors focused on enhancing shareholder value.