Gfinity PLC (AIM:GFIN) announced the launch of the gaming tournament-based platform Athlos Game Technologies, targeting the fast-growing, US$127bn games services sector.
Athlos “leverages the power of competitive gaming to deepen player engagement; to lower player churn; and to increase average revenue per user (ARPU)”, the esports and gaming solutions company said in a statement.
Chairman Neville Upton said the launch of the platform supports Gfinity’s confidence for performing in line with market expectations.
The company also revealed the appointment of Electronic Arts (EA) veteran Todd Sitrin as a strategic advisor to the Athlos leadership team.
The Athlos platform builds on Gfinity's expertise in powering competitive programmes for organisations such as the Premier League and the global esports programme of leading mobile games.
The company said it is continuing to work on developing deeper automation and scale, noting the product has been used 73mln times in the last 30 days.
It said Athlos has a growing number of clients on recurring annual contracts and a strong pipeline of prospective clients.
Gfinity also said it is exploring partnership opportunities with organisations that deliver and manage Software as a Service (SaaS) business models.
"Athlos Gaming Technologies is aligned with Gfinity's strategic focus on generating value by owning, scaling and monetising communities and our owned tech IP,” commented chairman Upton.
“In-game, live-service revenues are the key focus of the industry. It amounts to US$127bn per annum, more than double the value of up-front game sales revenues.
“Engaged competitive gamers can spend 30X in game compared to the non-competitive gamer. This is where Athlos delivers by dramatically increasing the number of engaged competitive gamers in any game whether on mobile, PC, or console.”
Turning to the appointment of Sitrin, the company highlighted his 30 years of experience in interactive and linear entertainment, esports, media, sports and technology, spanning world-leading games such as FIFA, Apex Legends, Madden NFL, The Sims and Battlefield.
Sitrin has launched hundreds of live service and traditional games as well as led strategic growth initiatives at EA for 20 years, most recently as the senior vice president and general manager of EA's Competitive Gaming Entertainment.
"We are delighted to welcome Todd Sitrin to the Athlos team. His extensive knowledge of the game publisher universe and impressive track record of delivering major strategic initiatives will make a massive impact as we grow Athlos into a product that is built into tens of 1000's of games worldwide,” said Upton.
“By adding Todd to an already strong leadership group, we are pushing forward with our exciting plans at pace. Athlos plays in one of the fastest growing segments of the gaming industry and Todd's expertise will be invaluable to helping it be a success."