NEW YORK, May 5, 2014 /PRNewswire/ -- Zynga, Inc. (NASDAQ: ZNGA) develops, markets, and operates social games as live services played on the internet, social networking sites, and mobile platforms in the US and internationally. The company offers online social games primarily under the FarmVille, Words with Friends, and Zynga Poker franchises. These games and more are accessible on Facebook and the company's website, zynga.com. The company generates revenue through the in-game sale of virtual goods, mobile game download fees and advertising services.
It is no secret that there is a dramatic shift towards mobile taking place today. What some may not realize is that this also pertains to the gaming sector – specifically digital games such as the popular Candy Crush Saga, Angry Birds, Words with Friends, Farmville, etc. In fact, it is estimated by Newzoo, an international market research and consulting firm, which the global mobile games market will double in size until 2016 and reach $23.9 billion. That works out to an impressive compound annual growth rate (CAGR) of 27.3%. Newzoo also estimates that 78% of all gamers worldwide play mobile games, with 38% of those mobile gamers spending an average of $2.78 per month on or in those mobile games. Further, these figures are expected to increase to 50% and $3.07, respectively, by 2016.
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