Snoop Is Top Dogg Of Virtual Goods Selling $200K+
A case study that is part of a new report on the growth of virtual good sales estimates that Snoop Dogg has sold more than $200,000 of branded virtual goods across several social networks. Snoop has generated sales across social platforms like Gaia Online, Zwinky and Viximo’s network of social networking partners. On social game WeeWorld, his sales are 2.5 times more than non-branded goods.
“My virtual items are off tha chain jacc! It’s a world and a movement that I have been down with since day 1,” says the rapper.
The report by social gamer Viximo and virtual goods platform Virtual Greats predicts that branded virtual goods (BVGs) will reach $150 million in 2013 and $318 million by 2015.
Branded items represent just 1% of the current $3.1 billion virtual goods sector, but that percentage is expected to expand rapidly.
I think this is really an area that people in the music space should be looking into.
I brought this up on Friday at Bandwidth and everyone kept thinking that it was the same thing as creating a rockband game or iphone app and reasons why they shouldn’t look into it.
$13billion dollar industry and an ENTIRE generation of kids who grew up thinking music is free(but pay for Club Penguin) says you should look into it.
I think the general consensus now that money can no longer be made by selling music is to make the artist a brand. Why not brand themselves virtually? Yes they have to actually have people who would buy them. There is some future in this space. Despite the failure of the celebrity branded gifts on Facebook.
Danny Dee you are on the money its not about a gaming app its about an economy of music V goods. This will be a big opportunity no doubt.
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