SARASOTA, Fla., Mar 29, 2012 (BUSINESS WIRE) -- Social media has redefined the way people interact using video games, and Obscene Interactive /quotes/zigman/608537 OBJE -10.00% is working to capitalize on the unprecedented demand for exciting new games on Facebook and social platforms.
Social gaming leader Zynga made headlines last week when it bought start-up gaming developer Omgpop for about $200 million. Omgpop exploded only six weeks ago when it released Draw Something, a 99-cent social game that has since been downloaded more than 35 million times.
The start-up's sale perfectly illustrates the value shift away from traditional console games toward Facebook and online gaming platforms. In January, game sales through Facebook, mobile platforms, digital downloads, rentals and subscriptions totaled between $350-400 million. Omgpop's hit Draw Something generates $250,000 in revenue daily. That's the kind of explosive earning potential that OBJE is seeking to capture.
Earlier this week, OBJE signed a letter of intent to initiate due diligence on HourBlast Games, the creator of a highly customizable fighting game called Dueling Blades. The game will be monetized following the free-to-play model, with bonus items available via micro-transactions. The company plans to officially launch this exciting new product soon, making HourBlast an ideal target for OBJE's potential involvement.
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 Electronic Arts Inc. /quotes/zigman/71356/quotes/nls/ea EA -1.35% , Activision Blizzard, Inc. /quotes/zigman/110164/quotes/nls/atvi ATVI -1.32% and Take-Two Interactive Software /quotes/zigman/62747/quotes/nls/ttwo TTWO -1.38% .
About Obscene Interactive
Obscene Interactive /quotes/zigman/608537 OBJE -10.00% 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.
SOURCE: Obscene Interactive
Obscene Jeans Paul Watson, 941-952-5825 President and CEO info@obsceneinteractive.com
Copyright Business Wire 2012
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