Online games have largely moved to a free-to-play model where the monetization is achieved through microtransactions instead of traditional box sales or subscription fees. According to data from Superdataresearch, the worldwide MMO games market was split between $7.5 billion for free-to-play games and $2.8 billion for pay-to-play games in 2014 with free-to-play on the rise and pay-to-play on the decline.
Within this market, World of Tanks is a particularly interesting title. According to data from Superdataresearch, the average monthly revenue per user (ARPU) of World of Tanks is the best in the world at $4.51. World of Tanks also sports a superb conversion rate (share of users who pay) of over 25%, which is also sky-high in this industry. Together, these figures amount to over $500 million of annual revenue for Wargaming, the creator of World of Tanks.
Therefore, taking a look at what Wargaming has done with World of Tanks is of particular interest.
Crowdsourcing has long held quite a bit of promise: who would not want to have customers participate in funding, marketing, or developing products for themselves and thus relieving the company from some of these tasks.
In the toy industry, crowdsourcing has recently made an appearance, so it is interesting to take a look at what has happened there and to consider what could happen in the future. The main focus of this post is LEGO Ideas, as it is by far the most visible example of crowdsourcing in the toy industry.
Despite the advances achieved in the past 100 years, we are still on the journey towards gender equality as a society and the road ahead remains long and winding. However, I think there have been a number of beacons of hope within the past five years when it comes to the “girls” toy market, and this movement is not going to stop.
In this post, I will examine a number of toys directed at girls and the way they have been marketed, and sketch out what the future could hold for toy manufacturers adventurous enough to fully venture into the still relatively unexplored realm of educational and empowering stories and toys.
Insights are acquired from surprising places. One such place for me when it comes to continuous improvement and work in general is live video game streaming on Twitch.
In this post, I will dig into four behaviors that are regularly exhibited by the popular World of Tanks (an online team-based tank battle game) streamer QuickyBaby, adopting which can possibly make you a popular streamer, but which can also prove to be useful in many other pursuits in life.
LEGO is famous for its mission, “To inspire and develop the builders of tomorrow.” However, when it comes to the digital space, especially video games, LEGO has had a hard time finding ways to actually turn this mission to reality.
In this post, I examine what LEGO has been doing in the digital space, where LEGO could shine, how competitors have already arrived there, and what LEGO could do to live up to its mission in the digital.
Platforms are all the hype nowadays. Whether it’s iOS, Android, Uber, or Airbnb, it seems that platforms are set to inherit the Earth.
I have examined the platform hype and the deeper meanings derived from reinterpreting platforms through a lens of service-dominant logic before, and in this post I want to turn the focus to LEGO.
What? LEGO is not a software company that provides a platform for other companies to sell their wares, what has it got to do with platforms? While it is different, I claim that LEGO is, indeed, a platform, and I’ll show you why and why it matters – and how to go beyond that to LEGO as service.
The stereotypical privately-owned company is slow whereas a stereotypical public company is twitchy and run on a quarterly basis. Although these may be stereotypes, they do contain a grain of truth as well. For a company to be great, it needs to learn something from both perspectives.
The lesson to be learned from many privately-owned companies is long-term thinking.
I have written about many themes that touch the corporations of today in this blog over the years. Themes such as Lean, social business, dynamic capabilities, Lean Startup, intrinsic motivation, and service-dominant logic each have had their time in the spotlight.
With all these themes and theories, what is the big picture? I believe there is, in fact, quite a coherent picture that can be painted from all these themes, and that picture provides some much-needed answers on what a dynamic organization looks like and how to build one.
A dangerous misconception has become prevalent in our society. It is a pestilence that affects, among other things, companies, the academia, health care, and education. As an almost invisible force it prevents mankind from reaching greatness in many ways.
This misconception is the great divide between theory and practice.
Platforms are all the hype nowadays. It seems as if the silver bullet to success for any enterprise is to become a platform following a trend set by the iPhone with which Apple disintegrated Nokia as a smartphone giant.
However, I argue that this belief in the power of the platform is ultimately misplaced and only manages to capture the superficial instead of the core underlying principle. In order to understand why, we need to turn to service-dominant logic.