The recently listed Idea Fabrik Plc (Open Market Frankfurt, GB00B61CVK31, TI4.F) announces today its entry in the massively multiplayer online (MMO) segment of the gaming market through internal product development and synergistic acquisitions with its flagship Virtual World Echoverse(TM).
The online gaming industry generates over $11 billion annually worldwide, and it is believed massively multiplayer online games, online worlds and social communities drive 25% of that revenue.
Idea Fabrik’s strategy is to address the MMO market aggressively through internal product development and an acquisition strategy that will make it a leader in providing high quality, compelling, virtual reality experiences for online Internet entertainment, education, and social and business interactive purposes. Specifically, Idea Fabrik is developing and bringing an immersive 3-D virtual fantasy world that will provide consumer entertainment experiences that combine multiplayer gaming and social
networking elements. In addition, the Company has identified a number of acquisition candidates that fit well into this strategy, including MMO development studios and selected technology suppliers.
‘The online gaming market continues to experience robust growth year over year, in the range of 15-40% annually, eclipsing all other forms of consumer entertainment, including box office and music sales. The consistently strong growth rate in the MMO segment of the online gaming market exemplifies a shift in the entertainment consuming habits away from non-interactive to engaging interactive and social experiences. By bringing together a world-class team exercising innovation and the best practices in online world development, social networking and gaming, Idea Fabrik is poised for a great opportunity to take advantage of this revolutionary entertainment landscape,’ stated John Jenkins, CEO of Idea Fabrik Plc.
According to new research by analyst group DFC Intelligence, the online gaming market is expected to become a $13 billion industry in 2010, with digital distribution and virtual item sales expected to account for 40% of that revenue. The MMO segment of that market continues to grow in popularity as seen with the success of the games such as World of
Warcraft(R), with over 11.5 million subscribers as of 2008, and Second Life(R), a virtual world developed for the Internet reported to have more than 25 million registered users.
About Idea Fabrik Plc.
Idea Fabrik is a product development company that intends, through internal development and targeted acquisitions, to bring to market immersive 3-D
virtual worlds that will provide consumer entertainment experiences that
combine multiplayer gaming, virtual worlds, and social networking element.
Our worlds will be easy to navigate, experience, and understand -
delivering exciting new frontiers for the full-spectrum of both experienced
and casual consumers of Internet gaming, entertainment and social
interaction. For additional information please visit www.ideafabrik.de.
Safe Harbor: Statements contained in this news release, other than those
identifying historical facts, constitute ‘forward-looking statements’. Such
forward-looking statements relating to the Company’s future expectations,
including but not limited to revenues and earnings, technology efficacy,
strategies and plans, are subject to safe harbors protection. Actual
Company results and performance may be materially different from any future
results, performance, strategies, plans, or achievements that may be
expressed or implied by any such forward-looking statements. The Company
disclaims any obligation to update or revise any forward-looking
statements.
