Club Penguin

- Browser-based virtual world with over 22MM registered accounts
- Targeted at ages 6 – 14
- Two types of membership
- Non-member (free): can go anywhere in the world except member parties and can use in-game currency to buy a limited number of virtual items
- Subscribers: added benefits such as additional game items and characters which can be purchased with real funds via the game’s virtual currency
- Club Penguin is ad-free
- Estimated 2008 revenue: $50-$150MM – mixture of subscription and virtual goods sales
- 25% monthly unique visitors pay, $5/month per paying user

[Sources: Virtual Goods News – DFC Intelligence 2009, VentureBeat.com 2008, Brinking – Nabeel Hyatt 2008]