How to Monetize a Game in 2024?

How to Monetize Mobile Games? Models

 Picking out a mobile game monetization model is one of the first steps in the monetization process. Let me guide you through the four most popular monetization models.

1. In-Game Advertising 

In-game advertising involves brands displaying ads to players within the game environment. In-game advertising can be an effective way to reach gamers, as they are often highly engaged with the game content. Game environments also provide a unique opportunity for brands to align their products with a gaming lifestyle. 

• Rewarded Video Ads

Our favourite type of interstitial advertising is the wonderful rewarded video ad. In a rewarded video ad, the player is given the option to watch an ad in exchange for some sort of in-game reward. The rewards can be small, such as an extra life or a power-up, or they can be more significant, such as unlocking a new level or character. Regardless of the size of the reward, watching an ad is always voluntary; the player can choose to watch the ad or not, with no penalties. 

• Banner Ads

Banner ads have been around since the early days of the internet. They're simple, static ads that display information and images relating to a brand and/or its products. Banner ads should be placed in strategic locations within the game, such as on the main menu screen or during games so that they don't disrupt gameplay. 

Banner ads can also be used with subscription-based game monetization models, where game publishers can offer a discount to players who view the banner ad. This model works well for banner ads that are placed in high-traffic areas within the game.

• Interstitial Ads

Interstitial ads are full-screen ads that are shown to users at natural breaks in gameplay, such as between levels. When integrated properly, they can be an effective way to generate revenue without impacting the user experience too greatly.

The interstitial ad model might mean a simple static ad that the user must close before continuing gameplay or a video that the user can choose to watch or skip.

2. Sponsorships

The sponsorship model is becoming more popular in gaming each year. It takes many forms, but the overall approach is the same: a brand pays a game developer to have their brand featured inside their game. This might be as simple as a logo prominently displayed in the game's menus and transitional spaces. It may also be as complex as an entire branded experience built into the game world itself. Major free-to-play games have created entire events around branded experiences, featuring everything from global corporations to popular celebrities whose avatars perform in-game.

3. Premium Paid Model

The most "vintage" model for game monetization is the premium paid model, where players pay a one-time fee to access a full game. This model has been successful for publishers because it allows them to recoup their investment and make a profit from their games. 

There are a few major cons with the premium paid model. One of the biggest problems is that it can be difficult to convince players to pay for a game upfront. Premium paid games also often have a shorter lifespan than free-to-play games, as player interest will eventually wane if there is no new content being released. 

What Is The Best Mobile Game Monetization Model?

When picking out a monetization model, you need to consider your game’s genre. Different genres call for different monetization approaches. 

Hyper-casual games almost always rely on ad monetization. This is because players play these games to kill time and to have some fun. They don’t stick around long in such games. For this reason, hyper-casual developers throw ads at users to make money off them as soon as possible. For such a game, in-app purchases don’t make sense. 

On the other hand, hardcore and mid-core games almost always rely on in-app purchases. These games have more content to offer, and players tend to play them for longer. As a result, there is a better chance that players will spend money on these games.

On top of this, you should also consider your competitors. Your biggest competitors are the games within your genre. You should pay special attention to successful games that are similar to yours. Read more about gaming on the gen players blog. Simply play these games and consider how you feel about them as a player. By analyzing the competitors’ monetization strategies, you should get an idea of what could work for your game.

Conclusion

The article concludes by emphasizing the need for a reliable ad-based app monetization platform and highlights the importance of balancing revenue generation with a positive user experience. Developers are advised to experiment with different models, optimizing them based on player feedback and market trends for successful mobile game monetization.