Launch of Sweepstakes Promotional Platform
During the quarter, PLAYSTUDIOS launched the internal alpha of its sweepstakes promotional platform, providing valuable insights and setting the stage for a Q2 launch to select players, with scaling expected in the second half of the year.
Direct-to-Consumer Channel Growth
The direct-to-consumer channel generated approximately $5 million in in-app purchase revenue in Q1, representing 9.8% of total IAP revenue, up from 3.9% in Q1 2024 and 8.6% in Q4 2024, showing a year-over-year growth of 114%.
MyVIP Integration and Reward Partnerships
playAWARDS completed the integration of myVIP across major games, launching new reward partnerships including Foley Entertainment Group, enhancing the diversity and appeal of their loyalty ecosystem.
Strong Financial Position
The company ended the quarter with $107 million in cash and no outstanding debt, maintaining a strong balance sheet.