May 1, 2022 — May 1, 2023
Source: Midcore Gaming Apps Report 2023Overall costs per install (CPI) for midcore games average around $2.
Source: Midcore Gaming Apps Report 2023The average number of unique events active simultaneously is 15, even when excluding IAP offers & gachas.
Source: Midcore Gaming Apps Report 2023At $0.73 per install, Android users cost 5x less to acquire than iOS users, who average $3.86 per install.
Source: Midcore Gaming Apps Report 2023The average D7 ROAS on Android is $6 . 1 \% ,$ nearly 2x as much as the D7 ROAS on iOS.
Source: Midcore Gaming Apps Report 2023While D7 ROAS for casual games averages around $7 \%$ across platforms, midcore game D7 ROAS is comparatively lower at $4 . 3 \%$ .
Overall costs per install (CPI) for midcore games average around $2 .
Source: Midcore Gaming Apps Report 2023Shooter games have the highest average D7 ROAS at $6 \% ,$ while strategy games are a close second at $5 . 4 \%$ .
Source: Midcore Gaming Apps Report 2023The image displays a bar graph and a line graph
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The image displays a bar graph representing the spending of a company on research and development (R&D) over time
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The image displays a bar graph and text that compares the cash flow of two companies, SEKm and UCF

The figure is a world map that illustrates the distribution of the number of countries in the 2019 World Bank report. The map uses a color gradient to represent different ranges of countries, with darker shades indicating higher numbers and lighter shades indicating lower numbers. Here's a detailed description of the map: 1. **Color Gradient**: - The map uses varying shades of green to represent different ranges of countries. - Darker shades of green indicate a higher number of countries, while lighter shades indicate fewer countries. 2. **Geographical Distribution**: - The map shows that the number of countries is not uniformly distributed across all regions. - North America, particularly the United States and Canada, has a significant number of countries, indicated by darker shades. - Europe also shows a high concentration of countries, with many nations shaded in dark green. - Asia, particularly China and India, has a large number of countries, shown in dark green. - Africa has fewer countries compared to other continents, indicated by lighter shades of green. - Australia and New Zealand are also shaded in darker green, indicating a higher number of countries. 3. **Regional Analysis**: - North America and Europe have the highest concentration of countries, suggesting these regions are more developed and have more international cooperation. - Asia has the second-highest concentration of countries, indicating significant economic and political activity in this region. - Africa has the lowest number of countries, which might reflect lower levels of development and political stability compared to other continents. 4. **Implications**: - The map highlights the disparity in the number of countries across different regions, which can have implications for international relations, trade, and development. - Countries with a higher number of countries might have more opportunities for economic growth, political stability, and i
The analysis demonstrates that midcore mobile games—those offering depth while remaining accessible on handheld devices—are experiencing a post‑pandemic rebound, with Q1 2025 downloads and revenue surpassing 2024 levels. Five‑year data (2020‑2024) reveal a temporary decline during the pandemic, followed by a steady uptick in 2024 and forecasts that growth will continue into 2025. The primary thesis is that monetization success in this segment hinges on data‑driven ad integration and player‑centric design. Key findings show that midcore titles command higher eCPMs than casual games, yet player retention and in‑app purchase (IAP) conversion rates are sensitive to ad placement. A phased, A/B‑tested approach—beginning with limited rewarded videos and expanding based on performance metrics such as retention, playtime, and IAP conversions—maximizes revenue while preserving engagement. Case studies illustrate tangible benefits: Bytro Labs’ rewarded video strategy lifted average revenue per daily active user (ARPDAU) by 32.9 %, increased Day‑3 retention on iOS by 6.1 %, and achieved eCPMs of 23 (iOS) and 25 (Android). These results confirm that well‑timed ads can rival or complement IAP revenue when aligned with player incentives. The scope covers the global midcore mobile market, focusing on 2025 performance and projecting trends through 2026. It emphasizes long‑term player value, streamlined gameplay, social hooks, and frequent content updates as critical success factors. The conclusions underscore that responsive development cycles, continuous data analysis, and fair live‑service practices are essential for sustaining growth in the competitive midcore landscape.
The document argues that artificial intelligence has become a strategic asset in mobile game development, transforming every phase of the lifecycle from ideation to live operations. It claims that AI enables teams to prototype, test, and launch content at a fraction of the time previously required, citing examples such as concept‑art generation in days instead of months and single‑person prototype teams that reduce sunk costs. The thesis emphasizes that the combination of trillions of player data points, world‑class creative teams, evergreen intellectual property, and AI as a workflow enabler creates a competitive moat that is difficult to scale for rivals. Key findings include a 99 % cost reduction in marketing asset creation, an 80 % time saving on influencer spotlights, and a 75 % reduction in analyst turnaround times when querying data through AI agents. The document reports that five new games launched in 2026 adopted an “AI‑first” approach, allowing rapid iteration and simultaneous development of specialized content. It also highlights that AI agents can analyze A/B tests, suggest optimizations, and generate localized UGC‑style assets to lower CPI and improve player engagement. The scope covers the global mobile gaming market, focusing on mid‑core titles with large player bases. Methodology is implied through internal tooling: 50+ AI platforms (e.g., Claude, Cursor, ComfyUI) and BigQuery‑based agents that process terabytes of data daily. The analysis suggests that AI integration not only accelerates production but also democratizes data insights, freeing analysts to tackle higher‑level strategic questions.
The Q4 2025 investor presentation details a period of record financial performance for the company, characterized by significant revenue growth and successful strategic integration. The primary thesis centers on the company’s transformative year, highlighted by the successful consolidation of Plarium and a shift toward a midcore gaming focus. For the fourth quarter of 2025, the company achieved net sales of SEK 3,123 million, representing an 8% organic growth rate and a 108% increase in constant currency year-over-year. Adjusted EBITDA reached SEK 717 million, maintaining a 23% margin, while unlevered free cash flow totaled SEK 878 million with a 66% conversion rate. The scope of the report covers the global gaming operations of the company throughout the 2025 fiscal year, with specific emphasis on the fourth quarter. Key operational findings indicate that user acquisition (UA) spending rose to 38% of revenue in Q4, a 98% year-over-year increase in constant currency, largely driven by the integration of Plarium and the scaling of casual and racing franchises. Revenue streams showed a notable shift, with direct-to-consumer contributions rising 600 basis points to 32% of the total. Franchise performance was bolstered by strong results in the racing and word game segments, which saw year-over-year growth of 43% and 28%, respectively. Methodologically, the financial data is presented on a reported basis, with constant currency adjustments applied to isolate organic growth trends. The report incorporates full-year 2025 figures and highlights the impact of the Plarium acquisition, which was integrated into the group starting in February 2025. Looking ahead, the company concludes the period with a stable leverage ratio and a new organizational structure, positioning itself for continued midcore expansion and the potential public offering of its PlaySimple division.
The report argues that Vietnam’s mobile gaming sector will reach a billion‑dollar valuation by 2025, driven by an expanding user base and high spending per download. In 2023, 1.1 billion mobile users and 900 million mid‑core players generated gross revenue of approximately US$1.3 billion, with a compound annual growth rate of 9.8 % across all platforms. The analysis attributes this surge to rapid mobile penetration, widespread 5G coverage (average speed 75.7 Mbps), and a growing banking‑linked payment ecosystem that facilitates in‑app purchases. A key finding is the regulatory shift that began in 2025, when Apple introduced a mandatory license field and the Vietnamese government revoked 1,081 unlicensed titles. This crackdown reduced total downloads by 13.7 % but created a more favorable environment for compliant mid‑core games, which now dominate the market. The report’s methodology involved surveying 250 representative titles with significant download volumes, measuring D1 and D7 retention, playtime, and revenue. Data were cross‑validated with internal tools and third‑party analytics to correct discrepancies common in the local market. Geographically, the study focuses on Vietnam but benchmarks against other Southeast Asian markets. It notes that while daily playtime is rising across the region, Vietnam’s revenue per download exceeds that of the Philippines by at least 28 %. The report concludes that early licensing and a focus on social, competitive, and narrative‑rich mid‑core experiences—particularly 4X strategy, MOBA, squad RPG, MMORPG, and battle royale genres—will be critical for publishers seeking sustainable growth in the Vietnamese market.
The midcore mobile gaming market is undergoing a significant expansion as players increasingly migrate from hyper-casual titles toward games offering greater depth and complexity. Currently accounting for 35% of total US iOS gaming revenue, the midcore segment is defined by its high player retention and diverse monetization strategies. While these games face higher user acquisition costs than casual titles—averaging a $2 cost-per-install (CPI)—they leverage sophisticated LiveOps and multi-layered Battle Pass systems to drive long-term profitability. Strategy and RPG genres lead the market, while emerging trends like extraction shooters and season-based gameplay loops further solidify the segment's dominance. Data from 2022 to 2023 highlights stark contrasts in performance across platforms and regions. Android remains the more cost-effective platform for developers, offering a $0.73 CPI compared to $3.86 on iOS, while also delivering nearly double the Day-7 return on ad spend (ROAS) at 6.1%. Geographically, North America represents the most expensive market with a $5.45 CPI, yet it maintains a strong 4.5% ROAS. Conversely, the EMEA region provides the best overall value, balancing a low $0.80 CPI with a competitive 4.4% ROAS. Genre-specific analysis shows that Shooters require the highest acquisition investment at $7.47 but yield the highest early returns, whereas RPGs offer the lowest entry cost at $0.60. To maximize revenue and bypass traditional platform fees, midcore developers are increasingly adopting external web stores and aggressive LiveOps schedules, often running an average of 15 simultaneous active events. This shift toward complex, service-based ecosystems is supported by specialized growth acceleration platforms that provide the infrastructure for large-scale app marketing and monetization. By utilizing programmatic exchanges and targeted advertising solutions, developers can navigate the high-cost landscape of midcore gaming to secure a dedicated and high-value audience.
Midcore mobile games now represent roughly one‑third of U.S. iOS gaming revenue, a share that has expanded thanks to higher player engagement and diversified monetization streams. The average cost per install on iOS is about $2, roughly double the figure for casual titles, while Android users cost only $0.73 per install. Despite higher acquisition costs, day‑seven return on ad spend averages 4.3 % overall, with shooters and EMEA markets achieving the highest returns (6 % and 4.4 %, respectively). These figures underscore the importance of sustained LiveOps to maintain high lifetime value among midcore players. Genre analysis shows that strategy games—particularly 4X‑build and battle titles—dominate the top‑grossing segment, accounting for seven of the ten highest‑earning iOS midcore games. Shooter titles such as Call of Duty: Mobile and PUBG Mobile anchor the shooter category, while Genshin Impact remains the sole RPG in the top‑ten. New releases that remain within the top 200 over a full year are almost exclusively midcore, highlighting their longer‑term engagement and monetization potential. Publishers increasingly bypass Apple and Google storefronts, directing players to external web stores after the Epic‑Apple lawsuit opened that possibility. Leading titles—including Game of Thrones: Conquest, Clash of Clans, Star Wars: Galaxy of Heroes and Star Trek Fleet Command—use these sites to offer better‑priced bundles. Concurrently, top midcore games maintain high LiveOps activity, running an average of 15 simultaneous events such as PvP seasons and guild competitions to drive engagement and in‑app purchase revenue.
The midcore mobile gaming market in 2023 is defined by a strategic pivot toward deeper gameplay mechanics and diversified monetization streams, now commanding 35% of total iOS gaming revenue in the United States. While North America remains the most lucrative region with a 4.5% Day-7 return on ad spend, significant performance disparities exist between platforms. Android offers a more cost-effective environment for user acquisition compared to iOS, though the shooter genre remains the most expensive and rewarding category, commanding a $7.47 cost per install alongside a leading 6% Day-7 return on ad spend. Market longevity favors midcore titles over casual alternatives, as evidenced by midcore games being twice as likely to maintain a top-200 grossing position over a twelve-month period. The strategy genre, particularly 4X and "Build & Battle" subgenres, continues to dominate revenue charts. To sustain this momentum, developers are increasingly adopting sophisticated engagement models such as extraction shooter mechanics, multi-layered Battle Passes with dedicated storefronts, and seasonal progression resets designed to prevent late-game stagnation. Operational strategies have shifted toward aggressive LiveOps and the circumvention of traditional platform fees. Top-performing titles typically manage fifteen simultaneous unique events and fifteen limited-time gachas to drive consistent monetization. Furthermore, publishers are leveraging legal shifts to direct players toward external web stores, offering better value while avoiding app store commissions. Competitive social structures remain the backbone of retention, with 88% of leading midcore games utilizing permanent PvP seasons and over half incorporating guild-based competitions to foster long-term player commitment.
The midcore mobile gaming sector is experiencing a significant shift as AAA developers successfully port major PC and console franchises to mobile devices. Between Q1 2021 and Q1 2022, midcore games represented the only category to see market share growth, accounting for nearly 37% of US iOS mobile game revenue. This trend is further evidenced by the fact that nine midcore titles released in the past year remain in the top-200 grossing charts in the US, compared to only three casual titles. The success of these high-performing midcore games is attributed to three essential design pillars: sophisticated control systems, diversified monetization, and high content cadence. Leading titles like Diablo Immortal and Genshin Impact have moved away from traditional mobile autoplay mechanics, instead favoring precision-based manual controls and immersive storytelling that mirror premium console experiences. These games effectively cater to player motivations centered on mastery and the adrenaline rush of reaction-based skills. Monetization strategies in the midcore space have become increasingly complex. Top-performing games are significantly more likely to utilize Battle Passes, with 75% of the top 20% grossing midcore games employing the feature compared to just 25% of lower-ranking titles. Furthermore, gacha systems remain a dominant revenue driver; over 65% of top midcore games feature more than five different gachas. To maximize margins, a emerging trend shows publishers establishing external web stores to bypass standard app store commission fees. Finally, maintaining a massive content cadence is critical for retention. Approximately 80% of top midcore games utilize special live event currencies to create temporary economic sinks and drive daily engagement. By combining frequent limited-time events with a steady stream of cosmetic updates and new gameplay modes, successful developers ensure long-term player interest in an increasingly competitive AAA mobile landscape.
This analysis explores the significant growth and evolving landscape of midcore mobile games, particularly in the United States market as of mid-2022. While casual and hyper-casual titles historically dominated the mobile space, midcore games—often high-quality AAA experiences ported from PC and console franchises—are increasingly capturing market share. Data indicates that midcore titles accounted for nearly 37% of US iOS mobile game revenue in Q1 2022, representing the only category to see year-over-year growth during that period. The findings highlight a clear performance gap between top-tier midcore games and their competitors. In a 365-day sample, nine midcore titles maintained positions in the top-200 grossing US charts, compared to only three casual titles. Success in this segment is driven by three primary pillars: sophisticated control systems that emulate the precision of console gaming, massive content cadence through live events, and diversified monetization strategies. Notably, 75% of top-grossing midcore games utilize Battle Passes, and over 65% feature five or more distinct gacha mechanics. The scope of the research focuses on the US iOS market, utilizing a proprietary three-layered taxonomy to analyze genre-specific trends. Key case studies include Diablo Immortal, Apex Legends Mobile, and Genshin Impact, which are cited for their ability to balance core gameplay depth with mobile-specific monetization. Additionally, the analysis identifies an emerging trend of publishers implementing external web stores to bypass traditional app store commission fees. The methodology relies on data-driven analysis from the GameRefinery SaaS platform, incorporating feature-level comparisons and revenue tracking to distinguish the design elements that define market leaders.
The midcore mobile gaming sector is experiencing a significant shift as AAA developers and high-fidelity titles increasingly challenge the historical dominance of casual and hyper-casual games. Analysis of the US iOS market between Q1 2021 and Q1 2022 reveals that midcore was the only category to achieve revenue growth, currently accounting for 36.73% of total mobile game revenue. This trend is further evidenced by the fact that nine midcore titles released in the past year remain in the top 200 grossing chart, compared to only three casual titles. The success of these games, such as Diablo Immortal, Genshin Impact, and Apex Legends Mobile, is attributed to three essential design pillars: sophisticated control systems, diversified monetization, and high content cadence. Top-performing midcore games differentiate themselves by offering precise, console-like manual controls and minimizing reliance on autoplay. Furthermore, they utilize complex monetization strategies; 75% of top-grossing midcore games employ Battle Pass systems, and over 63% feature five or more distinct gacha mechanics. Live operations and player engagement are equally critical, with 100% of top-tier midcore games utilizing recurring live events. A notable 80% of these titles implement special event-specific currencies to manage game economies and drive temporary sinks. Additionally, a burgeoning trend involves publishers establishing external web stores to bypass standard app store commission fees. Data for this analysis was sourced from the GameRefinery SaaS platform, focusing on feature adoption and revenue performance within the US iOS market to identify the specific mechanics that separate market leaders from the broader competitive field.
This analysis examines the highest-grossing mobile games across iOS and Android platforms during the second quarter of 2022. Utilizing data from the Apptica platform across 37 countries, the study focuses on three primary industry segments: casual, casino, and mid-core games. The central thesis highlights the continued dominance of established franchises and the significant revenue-generating power of mid-core titles, which emerged as the highest-grossing genre during this period. Key findings indicate that Rise of Kingdoms by Lilith Games was the top-earning individual title, generating over $179.5 million on iOS alone. On the Android platform, Candy Crush Saga led with revenues exceeding $122 million. When aggregating performance across multiple top-charting titles, King emerged as the highest-grossing publisher with over $264 million in revenue, followed closely by Lilith Games at $254.6 million and Playrix at $182.8 million. The data also reveals a high reliance on organic traffic for top-tier games; mid-core titles on iOS averaged 91% organic traffic, while casual games on Android maintained a lower average of 70%. Geographically, the United States remains the primary hub for mobile game development, hosting 28.8% of the top-performing publishers' headquarters. Ireland and Israel follow as significant secondary hubs. In terms of market presence, Playrix and Playtika were the most frequent leaders in the charts, each accounting for 16.2% of the games appearing in the top-10 rankings. The analysis concludes that while the market is competitive, a small group of global publishers and established mid-core titles continue to capture the majority of mobile gaming revenue.
The analysis set out to pinpoint the highest‑grossing mobile games of the second quarter of 2022, evaluating performance across Android and iOS markets. Data were drawn exclusively from Apptica’s Top Apps section, covering 37 countries between 1 April and 30 June 2022, and were segmented into casual, casino and mid‑core categories without supplementation from other analytics services. Across both platforms, mid‑core titles generated the greatest revenue, with “Rise of Kingdoms” leading the chart at $179.5 million. Other top earners included “Candy Crush Saga” ($122 million), “Coin Master” ($99.2 million) and “Roblox” ($68.1 million). Casual games such as “Homescapes,” “Gardenscapes” and “Royal Match” each surpassed $20 million, while casino titles like “Slotomania” and “Jackpot Party” contributed between $10 million and $30 million. Organic traffic dominated most titles, typically accounting for 70‑95 % of user acquisition, with paid channels playing a smaller role. Publisher analysis showed King as the highest‑grossing publisher with over $264 million from four leading titles, followed closely by Lilith Games ($254.6 million) and Playrix ($182.8 million). Playrix and Playtica each appeared in 16.2 % of top‑10 slots, while Supercell and King accounted for 10.8 % each, and Lilith Games 8.1 %. Studios headquartered in the United States held the most positions (17), with Finland, Singapore, Hong Kong and Israel also featuring prominently. The study concludes that mid‑core games dominate revenue in Q2 2022, “Rise of Kingdoms” stands as the single biggest earner, and a relatively small group of publishers and studios capture the bulk of market share, underscoring the concentration of financial success within a few leading developers and regions.