Glu Mobile Inc. (Nasdaq: GLUU), a leading global publisher of social games for smartphone and tablet devices, today announced strong early momentum for its first social mobile games: Gun Bros and Toyshop Adventures. In a matter of weeks, Gun Bros and Toyshop Adventures have each generated more than 1M downloads from the App Store.
“We are thrilled with the reception to our first social mobile games. We expect to release five to six new social mobile titles every quarter on smartphones and tablets to satisfy mobile gamers appetite for quality, innovative gameplay and social mobile games,” stated Niccolo De Masi, Chief Executive Officer, Glu.
Highlighting Q4 results to date, Gun Bros is currently averaging more than 100,000 daily active users while Toyshop Adventures is currently averaging more than 70,000 daily active users. The success of these titles comes only one week after Glu announced its third quarter of 2010 financial results which showed strong growth and momentum in building its installed user base and increasing its smartphone revenues. Glu reported in its third quarter of 2010 earnings call that its monthly active users grew to 4.2M in September 2010. The company cumulatively achieved more than 31.9M installs on iOS devices alone at the end of September, with micro-transactions and in-game advertising revenues growing 98% quarter-over-quarter.
“Our deep partnerships with Apple and Google, strong internal studios, and cross-platform capabilities position Glu well to accelerate our early momentum,” said De Masi.
About the Glu titles to hit over 1M downloads each:
Gun Bros and Toyshop Adventures are available worldwide for free from the App Store on iPhone and iPod touch or at www.itunes.com/appstore/.
About Glu Mobile
Glu Mobile (NASDAQ:GLUU) is a leading global publisher of social games for smartphone and tablet devices. Glu's unique technology platform enables its titles to be accessible to a broad audience of consumers all over the world - supporting iOS, Android, Palm, Windows Phone 7 devices and beyond. Glu is focused on bringing the best in social, freemium, cross-platform mobile gaming experiences to the mass market. Founded in 2001, Glu is headquartered in the San Francisco Bay Area and has major offices in Brazil, China, Russia and the UK. Glu is focused on creating compelling original IP and also partners with leading entertainment brands including Activision, Atari, Fox and Harrah's. Consumers can find high-quality, fresh entertainment created exclusively for their mobile devices wherever they see the 'g' character logo or at www.glu.com. For live updates, please follow Glu via Twitter at www.twitter.com/glumobile or become a Glu fan at Facebook.com/glumobile.
Cautions Regarding Forward-Looking Statements
This news release contains forward-looking statements, including those regarding the strong early momentum for Gun Bros and Toyshop Adventures; our expectation that we will release five to six new social titles on smartphones and tablets every quarter beginning in the fourth quarter of 2010; and our belief that our deep partnerships with Apple and Google, strong internal studios, and cross-platform capabilities position Glu well to accelerate our early momentum. These forward-looking statements are subject to material risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Investors should consider important risk factors, which include: the risk that growth of smartphones and advanced networks does not grow as significantly as we anticipate or that we will be unable to capitalize on any such growth; the risk that we may have insufficient working capital to effectively execute our business strategy, including expanding our smartphone studio capacity and focusing on our social mobile product strategy, and that, even if we do execute our business strategy, we may not derive the revenues that we expect; the risk that our development expenses for games for smartphones are greater than we anticipate; the risk that our recently and newly launched games are less popular than anticipated; the risk that our newly released games will be of a quality less than desired by reviewers and consumers; the risk that the mobile games market, particularly with respect to social mobile gaming, is smaller than anticipated; and other risks detailed under the caption "Risk Factors" in our Form 10-Q for the quarter ended September 30, 2010 filed with the Securities and Exchange Commission on November 10, 2010 and our other SEC filings. You can locate these reports through our website at http://www.glu.com/investors. We are under no obligation, and expressly disclaim any obligation, to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.
GUN BROS, TOYSHOP ADVENTURES, GLU, GLU MOBILE and the 'g' character logo are trademarks of Glu Mobile Inc.