US mobile games IAP revenue to hit $500 million in 2012

Revenue made from in-app purchases in mobile games is set to reach $500 million in the US this year, up from $350 million in 2011.

A study published by Inside Network, a division of WebMediaBrands, pointed to the massive uptake of the free-to-play business model as the reason for its findings.

The firm's survey was generated from questioning 3,000 gamers in terms of their spending activity and usage patterns in a variety of social games across Facebook, iOS, and Android.

The social network

Inside Network compared these figures to those of virtual goods purchases through Facebook, which it expects will top $2.9 billion in 2012.

The social network's universal currency, Facebook Credits, is said to have been a major factor in this, recognised by 63 percent of those surveyed.

Interestingly 60 percent of those who play social games on mobiles claimed they didn't use Facebook Credits suggesting major dispartity between the two markets.

You can purchase the report - Inside Virtual Goods: Spending and Usage Patterns of the Social and Mobile Gaming Audience 2012 - priced $995, here.