TV games platform PlayJam has closed a $5 million ‘Series A’ financing round with backing from GameStop Digital Ventures, Adobe Ventures, Endeavour Ventures and London Venture Partners. PlayJam operates a global TV games platform that is distributed via connected TV brands including Samsung, LG, Panasonic and Sony. Consumers access PlayJam at the touch of a button on their remote control, gaining access to a variety of casual games.
Games make 38% of total downloads
2011 has seen the proliferation of connected TV, with recent studies forecasting an installed base of more than one billion devices by the end of 2015. Connected TV connection rates of 75 percent have been achieved in key markets by the leading manufacturers, demonstrating mass-market consumer demand for internet-connected services on television. Games have quickly become a key content driver, accounting for 38 percent of all app downloads, the largest share of any genre.
Average playing session of 23 minutes
According to the company, PlayJam has generated over 6 billion downloads in the last five years on Pay TV platforms. The company further states that more than 50 percent of PlayJam users go on to pay for content and stay engaged for an average of 23 minutes per session.
Games Based on Flash: 2D and 3D
Working with Adobe, PlayJam will aggregate Adobe Flash based 2D and 3D games for TVs from a wide range of game developers for distribution via its global games network. The company has recently announced content partnerships with brands such as Slingo, Puzzler and Relentless, the company behind the Buzz franchise.
Gamestop on Board
The world’s largest multichannel video game retailer, GameStop is focused on next generation platforms for the delivery of premium games. “The investment in PlayJam is an important step to understanding the potential of the connected TV sector,” said Chris Petrovic, Managing Director of GameStop Digital Ventures. “PlayJam has gained an early lead in the development, distribution and monetization of games on TV and we look forward to working closely with them to develop the opportunity further.”