Games Leader Transforms Business Model: Shifts Focus from Advertising to Virtual Goods
Los Angeles, CA September 13, 2011 — Leading game developer and distributor MindJolt today announced successful launches of Warp Dash, Master Shot, DressUp!-Fashion, and Mini Café. MindJolt also confirmed that revenues derived from the sale of virtual goods now makes up nearly a third of the company’s total revenues.
History of Hit Games
With the acquisition of SGN earlier this year, MindJolt continues its transformation into a developer and distributor of multi-platform games. The five iOS games released since April have each ranked as “Top 20” in countries around the world. This includes Warp Dash, released last week with an endorsement from Apple as an App Store “Featured Game,” Master Shot, DressUp!—Fashion, and Mini Café.” The company also re-launched popular SGN catalog title Skies of Glory, propelling the game to #11 overall in the Apple App Store.
Strong Slate and New Franchises
The company plans to introduce seven additional games this calendar year and will build franchises inspired by the popular “DressUp—Fashion!” game and high-quality upcoming titles, such as “Fluff Friends – Races” and “Bird’s the Word.”
Increased Revenue from Virtual Goods
The company has also transformed its revenue model shifting the emphasis from advertising support to a focus on virtual goods.
“Five months ago, we had minimal mobile presence, and derived little revenue from virtual goods,” said MindJolt CEO Chris DeWolfe, “Our mobile studio is producing great content, which combined with our massive distribution allows us to create hits. This has transformed our business from an ad based model to one that now derives a significant percentage our revenue through virtual goods.”
MindJolt brings people everywhere together through great games. With over 30 million mobile installs, more than 70 million installs on social platforms, and reaching over 25 million unique users a month on the web, MindJolt is one of the largest game developers and publishers. MindJolt’s roster of popular iPhone games includes two #1 hits and 6 Top 10 hits. Funded by Austin Ventures, and led by the team that founded and built MySpace, MindJolt is headquartered in Los Angeles, with studios in Buenos Aires, and San Francisco. For more information, please visit www.mindjolt.com