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Digital Interactive Symposium: Edinburgh Business Models in Virtual Worlds. 27 August 2010 Andy Moseby, Corporate Partner. Recent activity . ?. Lazard capital markets’ 2010 forecasts. Valuations. Qualitative : Proprietary technology Point of differentiation Breadth of service offering
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Digital Interactive Symposium: EdinburghBusiness Models in Virtual Worlds 27 August 2010 Andy Moseby, Corporate Partner
Valuations • Qualitative: • Proprietary technology • Point of differentiation • Breadth of service offering • Market positioning • Strength of management • Quantitative: • Trading comparables • Transaction comparables • Discounted cashflow analysis • LBO analysis Valuation
Valuations: ability to monetise • Qualitative: • Proprietary technology • Point of differentiation • Breadth of service offering • Market positioning • Strength of management • Quantitative: • Trading comparables • Transaction comparables • Discounted cashflow analysis • LBO analysis Valuation
Evolution of online revenue streams • Retail – “one off” • Boxed product • DLC • Digital distribution / Apps etc • Virtual Transactions • Virtual goods • P2P trading • UGC • Inviting Friends • Back Offline • Merchandise • Associated products • Advertising • In-game • Around game • Sponsorship / games as ads • Continued Payments • Subscription / VIP • “Lite” versions • Episodic gaming • PC baangs • Other • Data mining • Gambling
Evolution of online revenue streams • Retail – “one off” • Boxed product • DLC • Digital distribution / Apps etc • Virtual Transactions • Virtual goods • P2P trading • UGC • Inviting Friends • Back Offline • Merchandise • Associated products • Advertising • In-game • Around game • Sponsorship / games as ads • Continued Payments • Subscription / VIP • “Lite” versions • Episodic gaming • PC baangs • Other • Data mining • Gambling
Evolution of online revenue streams • Retail – “one off” • Boxed product • DLC • Digital distribution / Apps etc • Virtual Transactions • Virtual goods • P2P trading • UGC • Inviting Friends • Back Offline • Merchandise • Associated products • Advertising • In-game • Around game • Sponsorship / games as ads • Continued Payments • Subscription / VIP • “Lite” versions • Episodic gaming • PC baangs • Other • Data mining • Gambling
Evolution of online revenue streams • Retail – “one off” • Boxed product • DLC • Digital distribution / Apps etc • Virtual Transactions • Virtual goods • P2P trading • UGC • Inviting Friends • Back Offline • Merchandise • Associated products • Advertising • In-game • Around game • Sponsorship / games as ads • Continued Payments • Subscription / VIP • “Lite” versions • Episodic gaming • PC baangs • Other • Data mining • Gambling
Evolution of online revenue streams • Retail – “one off” • Boxed product • DLC • Digital distribution / Apps etc • Virtual Transactions • Virtual goods • P2P trading • UGC • Inviting Friends • Back Offline • Merchandise • Associated products • Advertising • In-game • Around game • Sponsorship / games as ads • Continued Payments • Subscription / VIP • “Lite” versions • Episodic gaming • PC baangs • Other • Data mining • Gambling
Revenue model changes game design All Image Credits: WikiMedia / Techcrunch / Wadsworth.com
Feel the width… = Major investment = Some investment = Little/No investment Source: Games Investor Consulting Limited
Feel the width… = Major investment = Some investment = Little/No investment Source: Games Investor Consulting Limited
Contact details Andy Moseby Corporate Partner Kemp Little LLP andy.moseby@kemplittle.com Tel. +44 (0) 20 7710 1650