0

Share

GAME DEVELOPMENT

Top 10 Mobile Game Monetization Strategies For 2024

  • Home
  • Blogs
  • Top 10 Mobile Game Monetization Strategies For 2024

Unlock the secrets to successful mobile game monetization in 2024 with our comprehensive guide.

Ronak Pipaliya

February 26, 2024

Most of the time, we're talking about games and apps that you can get for free in-app shops. Ads, in-app purchases, subscriptions, or relationships with other businesses help these apps make money.

The source of income changes based on whether it comes from advertising, users, or other businesses.

The App Store and Play Store host millions of mobile games every year, and game developers hope to make money from them, just like any other business owner. All of them agree that making money is the best answer.

This blog post will talk about 10 key ways that mobile apps and games can make money. No matter how you make money, you should try to get the most money possible without hurting the user experience. 

What is Mobile Game Monetization?

Mobile game monetization refers to the process of generating revenue from mobile games. Game developers implement various strategies to make money from their games, balancing the need to generate income with providing players an enjoyable and engaging experience. 

Monetization is essential for sustaining the custom 3D mobile game development and maintenance of mobile games and ensuring profitability.

Why mobile app monetization is important?

Over the past 15 years, the number of free apps in app stores has grown dramatically. This has made making money from mobile apps an important issue for app owners worldwide.

Paid apps make up about 31% of all the apps in the Google Play store, which is a slightly higher percentage.

Recently, more apps have become free, which has made app makers rethink how they make money from their work.

One of the following top game monetization models is a choice for app developers who want to make sure their apps keep making money while still giving users a great experience.

Top 10 Mobile Game Monetization Strategies For 2024

As we step into 2024, mobile game monetization strategies continue to shape the industry, offering developers innovative ways to generate revenue while enhancing the player experience. 

The following are the trending mobile app monetization strategies to look out for in 2024.

  • In-Game Ads

Using games in marketing strategy to generate revenue for your game is a time-tested strategy. By providing your game at no cost, you expand your potential audience. 

Subsequently, as players fully engage in the experience, they are presented with advertisements for a brief duration, which grants them access to various benefits such as additional content, currency, or extended engagement.

Achieving strategic ad placement is critical to prevent advertisements from interfering with pivotal moments in the game. 

Ads that are too frequent and intrusive can deter participants. To maximize the revenue generated by in-game advertisements, consider the following formats:

Dynamic In-Game Ads:

These geo-targeted, real-time advertisements can appear anywhere within the game world, including billboards and posters, while blending in seamlessly.

Static In-Game Ads: Static in-game advertisements are incorporated and planned throughout the game's design and development process. These advertisements provide a seamless and personalized integration into the gaming experience.

Advergames:

Custom-built brand-promotional games that provide a novel way to engage participants.

Rewarded Video Ads:

Players are rewarded for their attentiveness with this unique form of in-game advertising. 

They function exceptionally well with games that incorporate virtual currency or items, thereby generating a sense of scarcity that stimulates player involvement. 

Among the various formats of in-game advertisements, rewarded videos generally generate the greatest returns.   

  • In-App Purchases (IAPs)

In-app purchases are one of the most effective models for monetizing mobile games. Additional items such as coins, jewels, extra lives, and content will be available for purchase. 

Price in a highly strategic manner as well. Offer both expensive and inexpensive products. Additionally, it is noteworthy to mention that offers that possess validity are both well-received and efficacious.

Incorporating promotions in games according to the skill levels of the participants is an effective method of generating revenue. 

An example of an offer that a gamer may receive is an introductory pack bundle. As the majority of individuals connect their credit cards directly to their online accounts, securing offers requires only a single click. 

Therefore, keep in mind that in-game purchases are one of the most effective models for monetizing mobile games and can help you monetize your app.

  • Ad Mediation

This is a monetization strategy that streamlines the process of collaborating with several ad networks. 

It serves as a mediator among game developers, publishers, and ad networks, simplifying the process and enabling integration of a single SDK instead of many ones. 

  • Data Monetization

An unknown technique that entails gathering and transmitting non-personal data about game and player activities to data aggregators. 

Higher numbers of daily active users directly correlate with increased earnings potential from this method. For optimal effectiveness, a minimum of 50,000 daily active users is usually required.

  • Paid Games

The conventional method of selling games directly to players remains strong. For single-player narrative-driven games or titles with a fixed amount of material, charging for the game can be an effective approach. 

This approach is highly beneficial for established companies or highly anticipated game launches, as players are prepared to invest in a superior gaming experience. 

  • Subscription Model

A significant development of 2022 is the incorporation of subscription models into game applications, which has generated revenue for numerous publishers through best mobile game advertisements.

In exchange for additional content and complimentary gaming experiences, players are willing to make recurring payments. There are both renewable and nonrenewable options available.

Three distinct varieties of subscription games exist.

1) Individual subscriptions

2) Umbrella subscriptions

3) Battle pass subscriptions

  • Collaborations and Partnerships

Game creators can generate revenue by collaborating with businesses or influencers. This partnership may include including branded content or sponsorship agreements, leveraging the impact of influential personalities to enhance the game's visibility and financial prospects. 

  • Pay-walls

Free games make it much simpler to convince players to test your application. Consider implementing a pay-wall strategy, whereby users may access the game at no cost for a specified period prior to being required to make a payment to proceed. 

Once more, the challenge is to sufficiently engage participants' interest to convince them to pay for the product. Obviously, some individuals will leave after the trial period, but if executed properly, this could be an excellent method of generating revenue. 

  • Video Pre-roll

Publishers can utilize video pre-roll in addition to traditional display banners. This strategy is frequently used for free-to-play games and shows a video advertisement during the game's loading process. 

Companies such as Google are investing significantly in this type of advertising since it offers marketers an additional method to reach their desired audience. Similar criteria govern this monetization strategy as generic display advertising: you need to reach a critical mass to make a profit. 

  • Merchandizing

Merchandise options consist of T-shirts, coffee flasks, bathrobes, and masks, among others. You could potentially sell your products in a store or on the Internet. 

One fundamental prerequisite is that your game possesses a devoted following that is willing to invest their valuable currency in merchandise. While this may not solidify as your main source of revenue, it could potentially contribute to your overall monetization strategy. 

Conclusion

The strategies outlined above offer a glimpse into the future of mobile game monetization, where user experience and revenue generation go hand in hand. 

By combining innovative technologies, player-centric approaches, and strategic partnerships, developers can create not only captivating games but also sustainable business models.

At Vasundhara Infotech, we understand the dynamic nature of the gaming industry and are committed to providing cutting-edge mobile game development services

As you navigate the ever-changing landscape of mobile game monetization in 2024, consider partnering with us to bring your vision to life.

Are you ready to unlock the full potential of your mobile game? Contact us today and let's embark on a journey of innovation and success together.

FAQs By Mobile Game Monetization

The trends in 2024 include a focus on in-app purchases, personalized advertising, subscription models, hybrid monetization approaches, and the integration of blockchain technology for virtual asset transactions.

Developers can optimize in-app purchases by offering a variety of virtual goods and enhancements, implementing limited-time offers and discounts, providing a seamless and user-friendly payment process, and strategically placing prompts within the game to encourage purchases.

Yes, subscription models are becoming more popular. Successful implementation involves offering valuable and exclusive content through subscriptions, providing tiered subscription plans, offering free trials to attract users, and regularly updating content to retain subscribers.

Personalized advertising involves targeting users with relevant and tailored ads based on their preferences and behaviors. This strategy increases engagement and conversion rates. Developers can achieve this by leveraging user data, implementing rewarded ads for in-game benefits, and ensuring a non-intrusive ad experience.

img

Ronak Pipaliya

Project Manager at Vasundhara Infotech, a leading software development company. His great planning and execution qualities led to several successful projects.

message

Have a project in mind? Drop a message to Bansi Pipaliya & start the discussion!

Get a Newsletter

Sign Up to our newsletter to get latest updates staight in your inbox.

Vasundhara respects your privancy. No Spam!

Get a Newsletter

Sign Up to our newsletter to get latest updates staight in your inbox.

Vasundhara respects your privancy. No Spam!

message

Have a project in mind? Drop a message to Bansi Pipaliya & start the discussion!

Latest 13 Web Development Trends To Expect In 2022
April 11, 2022 Category : company news

Revealing Vasundhara’s New Identity

Read More
Leave a Comment