- Google recently announced the closure of its Google Stadia gaming business, a decision which may have partly been underpinned by the dearth of new gaming titles available on the platform
- Content has remained a crucial driver of success within the iGaming industry, a factor which Golden Matrix Group have sought to cater to
- Through their proprietary GM-X turnkey solution, the company provides its licensing partners with access to upward of 10,000 games drawn from over 25 gaming studios
On November 19, 2019, Google made an announcement that was set to potentially change the face of the gaming universe as we know it. Google was set to launch their Google Stadia cloud-based gaming platform, a revolutionary system which bypassed the erstwhile console gaming industry, rather allowing gamers to access their games via streaming across a host of compatible TVs, computers, and mobile devices. However, and whilst the idea was game changing in nature, the execution lagged far behind. Google Stadia recently announced that it would officially shut up shop on January 18, 2023, bringing a close to the internet giant’s push into online gaming (https://ibn.fm/7Z90p). However, a key rationale which may have led to the early closure of Google Stadia may also be the same factor dictating the potential failure or success of the iGaming business – content.
A key issue pinpointed as the reason behind Google Stadia’s relative lack of success was the gaming company’s economic model: subscribers to Stadia Pro would be given a handful of games each month that they could access for as long as they had a subscription – similar to PlayStation Plus – whereas the majority of games required a separate purchase. As a result, gamers expecting to benefit from reams of available games were forced to deal with relatively limited selections. The situation was only further exacerbated only 14 months post the launch of the gaming system, when Google decided to shutter its internal game development studio; the company would opt to switch their focus towards building out a gaming content aggregator platform rather than an original content distributor as originally envisioned (https://ibn.fm/kEQky).
Whilst Google’s exit from the online gaming space inevitable captured the headlines, it is an iteration of a broader trend affecting the iGaming space – one which has seen new platforms opt towards adopting a white-labelled gaming solution whilst directing their efforts and resources towards marketing and promotional endeavours. Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems, and gaming content, has sought in turn to carve out its own niche within the content aggregation and B2B iGaming space in a move designed to capitalize on the ongoing industry shift. Golden Matrix Group purveys its services to the B2B gaming industry through its proprietary GM-X turnkey solution, a complete software package designed to support online gaming businesses. The white-labelled service provided third party gaming platforms with access to GMGI’s expansive portfolio of over 10,000 games, ranging from online slots, casino table games, live operator games, and more drawn from Golden Matrix Group’s partnership with more than 25 gaming studios.
The iGaming space is forecast to deliver record growth in coming years; a recent study by VIXIO GamblingCompliance projected that the combined online gaming sectors within the US could triple in size over the next five years, reaching an annual value of $24.3 billion as of 2026. Considering that growth, a roundtable was recently carrying out, uniting a number of the most influential figures within today’s iGaming marketplace to discuss whether content aggregation remained the most effective manner in which to distribute content within the industry.
Whilst roundtable participants touched upon the rise of regulations and compliance within the sector as well as the growing need for content providers to adhere to these changing requirements, they did reaffirm their view on the continued success of the content aggregation model.
During the roundtable, Peter Causley, CEO of Lightning Box Games elaborated on the topic: “Content is, of course, still king, however in Europe and the UK at least volume can be considered the queen. This sudden shift to focus on the volume of game releases is in part to combat their shrinking market shares, due to increasing competition, and dwindling revenues from more heavily regulated markets found in the UK and Germany” (https://ibn.fm/B12lE).
A key reason speculated as leading to the ultimate demise of the Google Stadia gaming initiative related to the platform’s relative lack of content – a phenomenon spurred on by the closure of its internal gaming studio as well as the dearth of new games on its platform. With over 10,000 games available through its proprietary GM-X gaming solution, Golden Matrix Group for one, has far surpassed its industry competitors in terms of the breadth and dizzying array of content at its disposal.
For more information, visit the company’s website at www.GoldenMatrix.com.
NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI
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