Though I may not understand all that much about gaming, I do know that there is a lot of money to be made in the space. Two startups have identified a gap in the market and have partnered up to create a live game streaming service, aiming to be the number one streaming platform in Asia by the end of the year.
YuuZoo, a ‘virtual shopping mall’ that combines social networking with online shopping, has joined with XCast, an online broadcasting platform, to introduce live game streaming via multicast social broadcasting. The partnership sees Ron Creevey, who co-founded YuuZoo and later left to launch XCast, return to work with his old company.
Thomas Zilliacus, the chairman and CEO of YuuZoo, says that improving live game streaming is a hugely exciting idea. With gaming already one of the three cornerstones of YuuZoo’s virtual shopping mall, there is already an in-built target audience for the service.
“The live streaming will be yet another service within YuuZoo’s virtual shopping mall, attracting more users and attracting users to spend more time in the YuuZoo Mall. All game-related payments and all payments for all events will be made using our payment platform YuuPay,” Zilliacus explains.
Game event streaming, which allows users to broadcast games they are playing to other users, is already a big thing in the gaming world and is getting bigger. Twitch, a US startup offering such a service, was bought by Amazon for a reported $1 billion last year.
YuuZoo believes its own service can surpass Twitch because it has access to a much larger user base in larger markets. It claims to have access to 85 million registered users (thanks to partnerships with other brands across the Asia Pacific and other parts of the world) and 700 million television viewers across over 160 countries.
Meanwhile, Amazon has posted statistics showing it had 244 million active users in 2014, all of them registered users of the Amazon platform itself – which Twitch is now a part of, giving it a huge an inbuilt market.
However, thanks to its Singapore headquarters, YuuZoo could be perfectly positioned to begin pushing the service and gaining the much sought after market share in Asia. I would imagine that, as it is for Amazon, China will be a priority market due to the number of gamers in the country.
Ron Creevey believes Xcast has the potential to change gaming and take social gaming to a whole new level.
“It will change the way gamers play for the better, and will allow millions of consumers to view games play their games live, anywhere from any device.”