iCandy books $300,000 revenue surge with Claw Stars, shares climb
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Early results show Claw Stars is on track to drive even stronger revenues than ICI’s flagship Masketeers title.
For games development company iCandy Interactive (ASX:ICI), the release of its new title Claw Stars was highly anticipated by investors.
And its latest update didn’t disappoint, as ICI confirmed that it’s booked revenues of $299,570 in just two weeks since the title launched.
The revenue update followed a period of strong momentum prior to the game’s release.
By late June, the company announced that pre-orders for the game on the Apple App Store and Google Play had surpassed the 1 million mark.
Investors responded well to today’s announcement, sending iCandy shares almost 15% higher in morning trade to 7.6c.
Along with the early success of Claw Stars, iCandy said its flagship Masketeers: Idle Has Fallen title also continues to generate strong revenues since its launch at the end of last year.
Over the period since the Claw Stars launch, the Masketeers title generated in-game revenues of its own of $265,000.
The combined success meant iCandy generated gaming revenues of almost $600,000 in just the first two weeks of July.
In addition, early metrics indicate Claw Stars is demonstrating higher retention rates among users than Masketeers.
For example, the “Day-3 retention rate for Claw Stars currents stands at 25%, whereas Masketeers’ Day-3 retention rate is 20%”, the company said.
As a result, management “is confident that Claw Stars could emerge as one of iCandy’s best performing game titles in the coming quarters”.
The strong results are indicative of the iCandy development team’s ability to leverage IP and data analysis from successful titles to generate even stronger results for its new releases.
The company operates a model where its games are free to download, with revenue generated from advertising and in-app purchases.
This article was developed in collaboration with iCandy Interactive, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.