SYDNEY: iCandy Interactive Ltd has entered into a Game Publishing Agreement with one of China’s leading game publisher Ohayoo to localize, publish and market in China iCandy’s smash hit mobile game, Masketeers: Idle has Fallen.
Also read: Completion of regulatory documentation paves way for iCandy’s entry into Chinese gaming market
Ohayoo is a major mobile casual game publisher in China. Over the last 18 months, Ohayoo has become one of the fastest growing mobile casual game platforms in China, with more than 500 million game downloads for the period (Source: DayDayNew.CC).
Under the Agreement, iCandy will grant Ohayoo the right to localize, publish and market in Mainland China iCandy’s smash hit mobile game, The Agreement is for a duration of 3 years. Ohayoo will localize and market the game for both Android and iOS, as well as third party app stores in China.
In return, iCandy will receive a share of the revenue generated by Masketeers in the Chinese market on commercial terms that are in line with industry practice. iCandy will maintain all intellectual property rights in relation to Masketeers.
iCandy’s Masketeers recently reported reaching A$1million in revenues in record time of just over 60 days.
As reported by Marketing To China, China recorded over US$36.5 billion in gaming revenue in 2019. With growth in 2020, the industry consensus is that China is now the world’s largest gaming market.
iCandy’s growth strategy is to penetrate the lucrative Chinese mobile game market. The management of iCandy believes that iCandy can achieve this objective by leveraging on Ohayoo’s track record of product innovation and their deep grasp of the Chinese consumers’ needs and tastes, in addition to the very large community of online users that it has access to.
iCandy Chairman Kin W Lau commented, “iCandy is entering an exciting growth phase. We are absolutely thrilled and honored to partner with Ohayoo. The Chinese gaming market is a new strategic market for iCandy at our growth phase, as it is the world’s largest gaming market now.”
Kin further added, “This partnership with Ohayoo puts us in a very enviable position, on the fastest track possible to enter the gaming market of China, getting exposure to a large part of the Chinese online community almost immediately.”
Ohayoo is a leading casual game publishing platform that empowers developers to transform their creativity into chart-topping hits and bring joy to players worldwide. Backed by unique expertise across growing gaming markets in Asia and around the world, Ohayoo offers global publishing capability to optimize value and run effective marketing for game studios of all sizes.
iCandy Interactive Limited (ASX: ICI) is an Australian publicly traded company that has its core business in the development and publishing of video-games and digital entertainment for a global audience. iCandy Interactive runs a portfolio of mobile games that have been played by over 350 million mobile gamers worldwide and has won multiple awards in various coveted international events.
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