Mobile gaming in the US shows a robust post-pandemic recovery, led by casual genres and strategic marketing, with forecasts indicating record revenues in 2024 Q1 in UK.
The mobile gaming industry in the United States has seen a significant rebound as the world emerges from the pandemic. After a slight dip in 2022, the revenue stabilized in the first half of 2023 and has been on an upward trajectory since March 2023.
This report analyzes the current state of the industry, provides case studies, and concludes with insights into the future trends of mobile gaming revenue in the US.
With the pandemic receding, US mobile gaming revenue experienced a decline in 2022 but regained stability in early 2023. By March 2023, there was a month-over-month increase of 5.7%, signaling a return to growth. April continued this trend with a 3.8% increase, culminating in a total revenue of $23.3 billion for the year.
Forecasts for the first quarter of 2024 are optimistic, with an expected revenue growth of 4.2% quarter-over-quarter and a 15% year-over-year increase, potentially surpassing the $6.4 billion mark set during the peak pandemic period of Q2 2021.
Casual and hybrid-casual mobile games have been pivotal in the revenue resurgence of the US market. Casual games continue to dominate, accounting for 60% of total in-app purchases with a revenue of 13.9 billion in 2023. Between Q3 2023 and Q1 2024, in−app purchases from casual games are expected to grow by 214 billion.
Hybrid-casual games, exemplified by "Last War: Survival Game," have seen a steady increase in in-app purchases. The forecast for Q1 2024 shows a staggering 65% year-over-year growth, with expected revenue of $340 million.
The last six months have witnessed significant revenue growth for board, puzzle, and strategy mobile games in the US market. Scopely's "MONOPOLY GO!" has led the board game category to a 26% quarter-over-quarter increase, reaching 3.4 billion and surpassing puzzle games. Puzzle games, with titles like "RoyalMatch," have also seen a 102.9 billion. Strategy games are not far behind, with a 7% increase to $1.9 billion.
Starting from November 2023, "Last War: Survival Game" entered a phase of rapid growth in both downloads and revenue. From November 2023 to February 2024, monthly revenues saw increases of 188%, 390%, 170%, and 67%, respectively, accumulating over $180 million globally.
South Korea and the United States were the top contributors, accounting for 30% and 28% of the revenue, respectively. In January 2024, the game topped the US strategy game download charts and, by February, it ranked first in downloads and third in revenue in South Korea.
"Last War" utilized casual gameplay elements in its advertising materials, which, along with localized real-user generated content (UGC) ads, significantly increased download rates.
Similar to popular 4X strategy games like "Whiteout Survival" and "Top War," "Last War" achieved approximately 60% of its downloads through paid channels. The introduction of casual gameplay and targeted ad material contributed to a sevenfold increase in downloads in January 2024 compared to November 2023, outperforming major competitors in user acquisition efficiency.
The US mobile gaming market is experiencing a robust recovery, with casual and hybrid-casual games playing a crucial role in this resurgence. The strategic marketing and localization of games like "Last War: Survival Game" have proven effective in attracting a large user base, paving the way for record-breaking revenue in the upcoming year.
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