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New studies by research and consulting firm, Frank N. Magid Associates, and PlaySpan, recently released new data indicating that the virtual cash shop marketplace is a billion-dollar business in itself.

Mike Vorhaus, President, Magid Advisors commented in the press release regarding the statistics and research, stating…
“The fact that lots of people are reaching into their pocket to buy virtual goods is impressive, but even more impressive is that some of those consumers are spending considerable dollars,” ... “As this market grows, Magid believes that the majority of consumers will continue to spend $50 or more on virtual goods every year, and this will grow to be a multi-billion dollar market.”

Already, the estimates are showing that a large percentage of gamers spend just under $50 a year purchasing cash shop items or premium goods for online games. That’s completely unsurprising given that many free-to-play games require cash shop items in order to truly make a character stronger or more capable during combat, etc. The free-to-play market has really been cleaning up on this method of generating revenue.

Eric Hartness, Chief Marketing Officer of PlaySpan further commented on the statistical data regarding the cash shop marketplace, stating that…
“This data reinforces the high growth potential of microtransactions and digital goods for online games and virtual world developers,”... “Our internal data and client conversations also corroborate the findings, and we’ve noticed a significant increase in the number of customers who now spend several hundred dollars per month on digital goods.”

According to the research, PlaySpan is estimating that microtransactions and cash shop purchases will generate $17 billion in revenue by 2015. Already, they have projected that American gamers have turned microtransactions into $250 million dollar market for this year alone. Interesting stuff, no doubt.

Need more info about the PlaySpan research and market data? Feel free to visit their Official Website. For more gaming news, info, updates and media, be sure to stay tuned in with Blend Games.