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The Hobbit: Kingdoms of Middle-earth Helps Kabam Double Its Revenue in 2013

The Hobbit: Kingdoms of Middle-earth

The Hobbit: Kingdoms of Middle-earth seemed to be the mobile game to play in 2013! Developed and released by Kabam, this game has seen nothing but wild success since its debut in 2012. In fact, it has played a key role in helping Kabam reach record-breaking revenues for 2013. The free-to-play mobile strategy game has been one of Kabam’s most successful ventures along with Kingdoms of Camelot: Battle for the North. Both titles were featured on the iOS App Store’s “Top 10 Highest Grossing Apps” list last year.

In 2013 alone, Kabam generated over $360 million in gross revenues. This is a 100% increase over their 2012 numbers. These numbers are due largely to what is called a “freemium” marketing strategy. Freemium games do not cost anything to download and play. However, they offer many in-app purchase opportunities that will boost a player’s ranking or improve their overall gaming experience.

Co-Founder and CEO, Kevin Chou, had this to say,

“For the second consecutive year, Kabam blew past its plan. A year ago, we forecast 2013 revenue would grow by 50 percent to $270 million. Six months ago we raised the forecast to $325 million. To close the year topping $360 million is a testament to the innovation, creativity and collaboration of more than 750 Kabam employees around the world who are focused on keeping Kabam the leading freemium games company for traditional players.”

Middle-earth News wishes to congratulate Kabam on this outstanding achievement! We are pleased to know that fans of The Hobbit were able to play a part in their success.

 

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