Over 40 Million Virtual Gifts Sold in 2010 by Mobile Social Entertainment Leader mig33

SINGAPORE, March 1, 2011 /PRNewswire/ -- mig33, the world's largest mobile-first community, today announced that its members purchased more than 40 million virtual gifts in 2010, with sales more than doubling in several countries during the year's final six months.

Overall, virtual gift sales at mig33 grew sharply over the course of the year.  During Q1, sales averaged just over 2 million per month; by Q4, that figure had grown to well over 4 million.

mig33 is modeled on successful East Asian social networking services such as Japan's GREE and China's Tencent QQ, valued at USD$2.5 billion and $43 billion, respectively. However, mig33 differentiates itself by bringing mobile community and entertainment to billions of consumers residing in the emerging, mobile-first markets of Indonesia, India, South Africa, and many others.

"Virtual gifts were a focal point of mig33's development efforts around social entertainment in 2010, and our efforts there were well-rewarded," said CEO Steven Goh.  "We continue to customize our offerings, developing to local cultures and tastes, and view gifts as one part of a whole network of entertainment and communications services.  Those are the things that set mig33 apart as we seek to become the QQ for the rest of the mobile-first world."

Other mig33 virtual gifting highlights in 2010:

• Among the 10 top purchasing countries, three – Nepal, Tanzania, and Bangladesh -- grew by well over 200 percent, and three others – India, Pakistan and Iraq -- more than doubled;
• Traditionally one of mig33's top markets, Indonesia accounted for about half of mig33's virtual goods sales in 2010, and enjoyed successive quarters of growth.  However, of mig33's top 40 virtual gift-purchasing countries, about 3/4 saw faster growth during the year's final six months;
• On average, a mig33 virtual gift costs less than USD$1, though some range as high as $2;
• The world's best selling virtual gifts include the "Big Hug" "Kiss," and "Best Friend" items.

About mig33

mig33 is the world's largest mobile-first social entertainment service, connecting over 40 million registered members around the world with chat and entertainment everyday, and hosting a fast-growing virtual economy.  Launched in late 2005, mig33 is backed by Silicon Valley venture firms Accel Partners, Redpoint Ventures and DCM, GREE Inc. and many others.  For more information, visit www.mig33.com.

SOURCE mig33

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED