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Market likes Glu's new freemium model as its shares shoot up to a two year high

Gun Bros. does 1 million downloads

Market likes Glu's new freemium model as its shares shoot up to a two year high
Publisher Glu Mobile (NASDAQ:GLUU) has had a bad time financially in recent years as it's tried to transition from being a carrier-focused publisher to a smartphone-focused and now freemium-oriented outfit.

Yet, despite its continued quarterly losses, there is some light at the end of the tunnel.

Its two October released free-to-play games Gun Bros. and Toyshop Adventures have both racked up over one million downloads

This is up from the 460,000 and 680,000 respectively announced in its Q3 earnings report at the start of November.

Shooting up

"We are thrilled with the reception to our first social mobile games. We expect to release five to six new social mobile titles every quarter on smartphones and tablets to satisfy mobile gamers appetite for quality, innovative gameplay and social mobile games," said CEO Niccolo De Masi.

Despite some initial server problems, Glu says Gun Bros. is currently averaging more than 100,000 daily active users, while Toyshop Adventures has more than 70,000 daily active users.

However Glu has some way still to go, as in-app transactions and advertising revenue currently only make up 4 percent of its overall sales.

[source: BusinessWire]
Contributing Editor

A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.