hi5 has announced the launch of SocioPay, a monetization platform specifically designed to help generate commercial solutions for the social gaming industry. hi5 expects the platform to generate increased revenues by over 200%-300% over traditional means.
"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."
Several studios have already looked into the platform, citing increased revenue growth. One such partner, Portalarium, is excited about SocioPay. "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.
"We've received a lot of requests from developers to help them mitigate the commerce losses they are experiencing with currency and payment solutions on other social networks, and this is certainly an area where we can provide significant support," said Alex St. John, hi5 president and CTO.
SocioPay will work with hi5’s SocioPath, a social gaming platform that is launching this year.
SocioPay will be discussed at GDC in San Francisco at a dedicated session for those looking into the platform.
