Money for nothing: Sales of imaginary ‘virtual gifts’ approach $1 billion
Filed under: Company News, People, Media
Have you ever wondered who, aside from your mom, buys those $1 birthday-cake icons on Facebook? Turns out millions are willing to spend their hard-earned cash on, well, nothing. Sales on virtual items on Facebook, MySpace, and smaller social networks like Flirtomatic is expected to hit $1 billion in sales this year, a new report says.
Sales of Facebook “gifts” and virtual “goods” in games such as FarmVille are set to double from $500 million last year, according to a study by Justin Smith of Inside Network and Charles Hudson of Serious Business, and sales next year may hit $1.6 billion. Smith, who runs the blog InsideFacebook.com, says he and Hudson based the estimates on information they collected from game developers and other sources.
Continue reading Money for nothing: Sales of imaginary ‘virtual gifts’ approach $1 billion
Money for nothing: Sales of imaginary ‘virtual gifts’ approach $1 billion originally appeared on DailyFinance on Wed, 14 Oct 2009 15:15:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | Comments
Go here to see the original:
Money for nothing: Sales of imaginary ‘virtual gifts’ approach $1 billion
Tags: clothes, collings, embark-on-the, entry, inside-network, lawrence lessig, lawrencelessig, marketing
Leave a Reply