SARASOTA, Fla.--(BUSINESS WIRE)--The $67 billion global video game industry is growing and changing rapidly, and Obscene Interactive (OTCBB:OBJE) plans to grow right along with it.
In January, Gartner reported that sales of traditional video game hardware had plummeted 38 percent to $199.5 million, down from $324 million in January 2011. In that same period, gaming revenues from social games, mobile games, digital downloads, online rentals and subscriptions accounted for $300-400 million.
That’s an incredible shift, and Gartner expects global online game spending to increase at a compound annual growth rate of 27 percent over the next three years.
It’s no secret what’s behind this overnight evolution in the gaming industry. New technologies such as cloud computing, virtualization, mobile communications and on-demand delivery are changing the industry’s retail model.
These profound changes in the way people interact electronically are attracting millions of new and non-traditional gamers and disrupting the established monetization flow. And OBJE has a plan to capitalize on this paradigm shift in gaming.
The online and social gaming industry’s shifting dynamics and compelling revenue potential have led OBJE to focus on delivering innovative and interactive games to the fastest-growing consumer base within the gaming sector. The company is close to signing new agreements with rising gaming developers and animators capable of delivering a broad range of fun and educational games.
By capturing a share of the fast-expanding virtual goods and in-app purchases market, OBJE plans to position itself as the next superstar in the gaming world.
For more information on OBJE’s new gaming initiative, please visit www.obsceneinteractive.com/investors.
Obscene Interactive is a division of Obscene Jeans Corp. that is working to develop innovative products to service the fast-growing social gaming sector alongside companies such as Zynga Inc., Glu Mobile Inc. (NASDAQ: GLUU), The9 Limited (NASDAQ: NCTY) and Majesco Entertainment Co. (NASDAQ: COOL)
About Obscene Interactive
Obscene Interactive (OTCBB: OBJE) is an emerging global developer of social gaming applications. OBJE's cutting-edge technology platform enables its titles to be accessible to a broad audience of consumers all over the world, supporting multiple platforms for universal appeal. Obscene Interactive is focused on delivering the best in social gaming solutions to the mass market. For investment information and performance data, please visit www.ObsceneInteractive.com/investors.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.