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Playstudio financials see continuous growth and expansion of their PlayREWARDS platform

The Las Vegas based studio acquired mobile developer Brainium earlier in the year and has already accredited strong quarterly revenue performance to this
Playstudio financials see continuous growth and expansion of their PlayREWARDS platform

The Las Vegas based developer Playstudio reported their financials on Tuesday, showing continuous growth into Q3 for the company. Playstudio, which acquired casual mobile developer Brainium back in mid-October, has put strong emphasis on the ongoing expansion of their PlayAWARDS programme throughout their catalogue. According to the financials they plan to roll this out to their Tetris Mobile title, for which they hold exclusive publishing rights. The company reported their overall revenue was $72.1m, up from $70.6m during Q3 last year.

CEO of Playstudios, Andrew Pascal commented on how the acquisition of Brainium was helping the company “Of course the big news was our acquisition of Brainium and its collection of 10 highly engaging casual games with nearly 2 million DAU. We view Brainium as an excellent complement to our existing game portfolio and significant for our playAWARDS expansion. It’s early days, but integration is going smoothly and we couldn’t be happier.”

Rolling out PlayAWARDS

Playstudios seems to be banking heavily on their PlayAWARDS system, planning to integrate it into Tetris Mobile, as well as likely into Brainium’s extensive catalogue of casual games. As a rewards programme, coverage is extremely important, so maximising the number of users who engage with the programme is going to be a big priority for Playstudios going forward. Brainium was a smart acquisition in this case, and although coming a while after their acquisition of the Tetris licence, the popular brand is likely to expand the visibility of their PlayAWARDS programme massively.

Playstudios also reported, however, that their net income had dropped significantly from the third quarter of 2021. Last year they reported $11.2m in revenue whereas this year there was a dramatic drop to only $3.6m, however this could likely be attributed to their acquisition of Brainium, which saw a massive offer of $70m cash upfront, in which case that sort of net income drop is not too startling. If true however, as they capitalise on in their report, Playstudios will want to emphasise the return they believe Brainium will give on their investment.

During the week we’ve reported on numerous financial releases, including two big takeaways from Activision-Blizzard and Take-Two Interactive. Both now see their revenue share going mobile first, in a major change to the previously PC and console-focused publishers.