The amount of money consumers spend on virtual currencies is set to increase in the years ahead, with annual revenue hitting $3.2 billion by 2017.
That's according to a study conducted by Tapjoy and the Yankee Group, which claims app-based currency spending will almost triple from its current level of $1.2 billion this year.
Up, up and away
The study indicates that a growing level of consumer comfort with virtual currency as a concept will translate to it being equated to credit card reward points or bonus airline miles.
"As expected, mature virtual currencies exhibit the highest comfort levels and are among the most used by consumers," details the report.
"Mature virtual currencies are reaching ubiquitous status across a variety of industries, helping position them as the foremost currency used by marketers.
"Looking ahead, many of these areas will see continued use and growth as marketing initiatives adapt to the mobile channel."Changing attitudesIn addition, the study also found that user willingness to engage with adverts in exchange for apps and IAPs are also increasing.
The study's numbers suggest that more than half of tablet users are happy to pay between 99c to $2.99 for an app, compared to 41 percent of smartphone users.
54 percent of smartphone owners surveyed have also paid for an app upgrade.
Interestingly, however, when looking at a percentage of those willing to engage with advertising in exchange for free in-app content upgrades, the numbers jumped to 73 percent for tablets and 67 percent for smartphones.
[source: Tapjoy (PDF)]
Data & Research
US Correspondent
Representing the former colonies, Matt keeps the Pocket Gamer news feed updated when sleepy Europeans are sleeping. As a frustrated journalist, diehard gamer and recovering MMO addict, this is pretty much his dream job.
Related Articles
Top Stories
News
3 hours, 21 minutes ago
Week in Views - Apple back themselves bigstyle, Clash bags Haaland and dreams come true at King
News
6 hours, 12 minutes ago
Mobile Movers: All the latest appointments and job moves from around the industry
News
6 hours, 57 minutes ago
Squad Busters has 20 million pre registrations with 30 million in its sights
News
7 hours, 19 minutes ago
Carry1st's African Cup to feature Call of Duty: Mobile tournament with $15,000 prize pool
News
3 hours, 21 minutes ago
Week in Views - Apple back themselves bigstyle, Clash bags Haaland and dreams come true at King
Feature
5 hours, 33 minutes ago
Apple and Nintendo's Delta blues: A legal timebomb or just the new normal?
News
6 hours, 12 minutes ago
Mobile Movers: All the latest appointments and job moves from around the industry
Feature
10 hours, 34 minutes ago
Mobile Mavens: The industry wades in on Squad Busters from its “transformative impact” to being “corporate box ticking”
Feature
12 hours, 17 minutes ago
New release roundup: The best new mobile games from the morality of AI to Dadish’s 3D journey
Events
GameDev Atlantic 2024 | May 4th | |
LA Games Conference 2024 | North America | May 6th |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Valencia Indie Summit 2024 | Europe | May 16th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
WN Conference Istanbul 2024 | Jun 11th | |
DevGAMM Vilnius 2024 | Europe | Jun 14th |