The mobile gaming boom is accelerating again – these 2 ASX stocks stabilize
If there is one sector in ASX stocks that has collectively performed as a result of quarterly reports, it is mobile gaming.
After a strong 2020 driven by pandemic-induced boredom, mobile gaming continues to gain momentum in 2021. App Annie has estimated that consumers spent $ 100 billion in 2020 and will spend more than $ 120 billion this year. year.
One ASX action that sees the mobile gaming boom continue into 2021 is Playside (ASX: PLY), Australia’s largest listed video game developer.
Playside reported a 71% increase in revenue in the March quarter, compared to the previous corresponding period to $ 2.73 million. This follows the 66% revenue growth announced in the December quarter.
The result so far brings the company’s revenue in FY21 to $ 7.76 million, already 10.7 percent higher than FY20 as a whole and up 66 percent from the nine first months of FY20.
Playside also launched a record number of titles in the quarter and saw continued user growth among games released before the quarter. The most downloaded game is Animal Warfare, which has surpassed 9.3 million downloads since its launch last August.
Other Playside games have seen impressive download numbers as well, especially Garbage Truck 3D! which reached 770.00 downloads in just seven weeks.
Playside is only listed in December, but has grown by over 55% since then.
Playside stock price chart (ASX: PLY)
The other ASX mobile game stock sees a fistful of dollars today
The publication of its quarterly today was also iCandy Interactive (ASX: HERE) and he reported a 227% increase in cash inflows – over the previous corresponding period – from $ 194,000 to $ 441,000.
The company attributes this to its successful game Masketeers: idle has fallen.
But iCandy is also working on another game, Claw Stars.
The company launched an early access trial in conjunction with Google Play and today revealed that it has been successful.
Claw Stars’ retention rates are even better than masketeers with day 1 and 7 retention rates of 46 and 18%, compared to 37% and 8% for masketeers.
A global launch is scheduled for June 2021.
ICandy stock price chart (ASX: HERE)
At Stockhead, we say it as it is. Although iCandy and Playside Studios are Stockhead advertisers, they did not sponsor this article.