The mobile gaming boom is accelerating further – these 2 ASX stocks are levelling up
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If there’s one sector of ASX stocks that has collectively performed off the back of quarterly reports it was mobile gaming.
After a solid 2020 driven by pandemic-induced boredom, mobile gaming is continuing to accelerate in 2021. App Annie has estimated consumers spent US$100 billion in 2020 and will spend over US$120 billion this year.
One ASX stock seeing the mobile gaming boom continue in 2021 is Playside (ASX:PLY), Australia’s largest listed video game developer.
Playside recorded a 71 per cent increase in revenue during the March quarter, compared to the prior corresponding period to $2.73 million. This follows on from the 66 per cent revenue growth it reported in the December quarter.
This result brings the company’s revenue in FY21 to date to $7.76 million which is already 10.7 per cent more than the entire FY20 and up 66 per cent from the first nine months of FY20.
Playside has also launched a record number of titles during the quarter and seen continual user growth amidst games launched prior to the quarter. The most downloaded game is Animal Warfare which has surpassed 9.3 million downloads since its launch last August.
Other games by Playside have seen impressive download figures too, particularly Garbage Truck 3D! which reached 770,00 downloads in just seven weeks.
Playside only listed in December but is up more than 55 per cent since then.
Also releasing its quarterly today was iCandy Interactive (ASX:ICI) and it reported a 227 per cent jump in cash receipts – compared to the prior corresponding period – from $194,000 to $441,000.
The company credits this to its smash hit game Masketeers: Idle Has Fallen.
The company has been running an early-access trial in collaboration with Google Play and today revealed it had been a success.
Retention rates from Claw Stars came in even better than Masketeers with Day 1 and Day 7 retention rates of 46 and 18 per cent compared to 37 per cent and 8 per cent for Masketeers.
A global launch is planned for June 2021.
At Stockhead, we tell it like it is. While iCandy and Playside Studios are Stockhead advertisers, they did not sponsor this article.