Source: CNBC
Summary
Meta is expanding its mobile and gaming business, according to reports. The company is investing in new technologies and hiring staff to boost its presence in the gaming market. Meta’s mobile business has seen significant growth, with the company reporting a 20% increase in mobile ad revenue in the fourth quarter of 2022. The expansion is part of Meta’s efforts to diversify its revenue streams beyond advertising.
Our Reading
The launch follows a familiar script.
Meta is rebranding its mobile gaming ambitions as a “new” focus. The company is hiring staff and investing in new technologies to boost its presence in the gaming market. Because what the gaming world really needed was another tech giant trying to get in on the action. Meta’s mobile business has seen growth, but it’s still playing catch-up with other gaming giants. And let’s be real, we’ve seen this story before – a tech giant tries to “disrupt” the gaming industry, only to realize it’s harder than it looks.
Author: Evan Null
