Hi5 has announced a new monetization platform called SocioPay. The platform features a blend of ad and commerce monetization that hi5 says can boost a game’s revenue by 200% to 300% in initial tests. SocioPay is designed to track a user’s behavior and offer the optimal solution for every commerce opportunity with that customer. Users unlikely to pay directly are offered advertising options, while users who pay directly are shown preferred direct payment methods.
“While results are still early, we expect SocioPay to increase revenue in social games by 200%-300% over traditional commerce and lead-generation offers found on other social networks,” said Monty Kerr, hi5 Vice President of Commerce and Advertising. “The key innovation is that SocioPay extends beyond the hi5 platform; allowing developers to see dramatically increased revenue wherever their social games are distributed – even on other social networks.”
Hi5 says SocioPay is the first publicly-available hybrid advertising and commerce monetization platform in the social games industry. Hi5 plans to offer SocioPay as a cross-platform monetization solution to social developers who launch their games on its network. SocioPay will complement the latest version of hi5’s social game platform SocioPath, which will go live next week. The new version of SocioPath allows users to play the over 100 games distributed on the platform without requiring a user account or registration.
“Over the last year, we’ve been working closely with hi5 on the distribution of our social game titles, Port Casino Poker and Port Casino Blackjack. By implementing SocioPay, we’ll be able to gain actionable insights and achieve measurable improvements in monetization and revenue per user. hi5 is a strategic partner for us as we look to expand our business this year and we are planning to launch more titles leveraging their new SocioPay platform,” said Richard Garriott, co-founder and Creative Director at Portalarium, in a press statement.
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