Legal Niches

Researchers Swoon over Virtual Goods Boon

By pete_gallagher

Driven by social network applications and games, the U.S. market for virtual goods is expected to reach $2.1 billion in 2011.

Research by Inside Network reports that Americans spent $1.1 billion on virtual goods in 2009, while 2010 is estimated to bring in $1.6 billion in virtual goods revenue. The numbers predict a virtual doubling of revenue in the sector from 2009 to 2011.

For 2010, the analysts estimated that the social gaming market would contribute a whopping $835 million to the estimated $1.6 billion total. Indeed, Inside Network called the 'explosion' of the virtual goods market on social networks 'one of the biggest stories of 2010,' aided by Electronic Arts' purchase of Playfish in late 2009 for upwards of $400 million and Disney snatching up Playdom, in a deal that could eventually reach $763 million, earlier this year.
Read More

read more

Full post as published by GamePolitics.com on September 28, 2010 (boomark / email).