Social network hi5 announced the launch of the SocioPay monetization. SocioPay objective is to dynamically determine the optimal monetization solution for every commerce opportunity, including identifying players who are less likely to purchase and offering advertising as an alternative to traditional payment options. “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.”
“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. The newly launched SocioPay technology will complement the latest release of SocioPath, the social gaming platform designed to liberate social games from their dependence on social networks through viral audience acquisition, which is also launching at GDC this year. The new version of SocioPath will enable over 100 social games currently distributed on the hi5 platform to be accessible directly from the site without requiring a user account or registration.