PLAYSTUDIOS, Inc. (MYPS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de los juegos móviles, PlayStudios, Inc. (MYPS) ha forjado un nicho único al revolucionar los juegos de casinos sociales a través de su innovador modelo de negocio. Al combinar sin problemas el entretenimiento con un programa innovador de recompensas de lealtad, la compañía ha transformado cómo los jugadores experimentan juegos móviles, ofreciendo no solo la emoción digital sino las recompensas tangibles del mundo real que mantienen a los usuarios comprometidos y regresando por más. Su enfoque estratégico combina el desarrollo de juegos de vanguardia, las sofisticadas técnicas de participación del usuario y una estrategia de generación de ingresos multidimensional que los distingue en el panorama de entretenimiento digital competitivo.

PlayStudios, Inc. (MYPS) - Modelo de negocios: asociaciones clave

Desarrolladores de juegos móviles y editores

PlayStudios se asocia con varios desarrolladores de juegos móviles para expandir su cartera de juegos. A partir del cuarto trimestre de 2023, la compañía tiene colaboraciones con:

Pareja	Detalles de la asociación	Año establecido
Tormenta8	Colaboración de desarrollo de juegos	2019
Zynga	Acuerdo de contenido compartido	2021

Plataformas de redes sociales para la distribución de juegos

PlayStudios aprovecha plataformas de redes sociales clave para la distribución de juegos:

• Facebook Gaming: 2.5 millones de usuarios activos mensuales
• Instagram Gaming: 1.8 millones de usuarios activos mensuales
• Tiktok Gaming: 1.2 millones de usuarios activos mensuales

Servicios de computación en la nube

Amazon Web Services (AWS) es el principal socio de computación en la nube para PlayStudios:

Servicio	Gasto anual	Duración del contrato
Infraestructura en la nube	$ 3.2 millones	Contrato de 3 años

Redes publicitarias y plataformas de marketing digital

Las asociaciones de publicidad clave incluyen:

• Google Admob: gasto publicitario anual de $ 2.1 millones
• Anuncios de Unity: gasto publicitario anual de $ 1.5 millones
• APLAVIN: $ 1.8 millones de gasto publicitario anual

Fabricantes de dispositivos móviles y tiendas de aplicaciones

PlayStudios mantiene asociaciones críticas con:

Pareja	Alcance de distribución	Participación de ingresos
Apple App Store	65% de las descargas de juegos móviles	30% de participación de ingresos
Google Play Store	35% de las descargas de juegos móviles	30% de participación de ingresos

PlayStudios, Inc. (MYPS) - Modelo de negocio: actividades clave

Desarrollo y diseño de juegos

PlayStudios asignó $ 35.2 millones a gastos de investigación y desarrollo en 2022. La compañía desarrolló 7 títulos de juegos móviles en casinos sociales y segmentos de juegos casuales.

Métricas de desarrollo de juegos	Datos 2022
Gasto total de I + D	$ 35.2 millones
Número de títulos de juegos	7
Tamaño del equipo de desarrollo	125 empleados

Creación de juegos de casino social

PlayStudios se enfoca en crear juegos de casino social a través de su plataforma de marketing de lealtad patentada llamada Myvegas.

• La cartera de juegos primarios incluye tragamonedas de MyVegas
• MyVegas Blackjack
• Myvegas Poker

Administración de plataforma digital

La compañía administra múltiples plataformas digitales en iOS y Android, con 4.5 millones de usuarios activos mensuales a partir del tercer trimestre de 2022.

Métricas de plataforma	2022 estadísticas
Usuarios activos mensuales	4.5 millones
Plataformas compatibles	iOS, Android
Descargas totales de juegos móviles	65 millones

Estrategias de participación y retención del usuario

PlayStudios generó $ 212.3 millones en ingresos durante 2022, con un enfoque en la retención de usuarios a través de programas de fidelización.

• Integración del programa de recompensas de lealtad
• Asociaciones de recompensas del mundo real
• Experiencias de juego personalizadas

Optimización de compra en la aplicación

La compañía reportó $ 84.6 millones en ingresos por contenido digital e publicidad para 2022.

Métricas de compra en la aplicación	Datos 2022
Ingresos de contenido digital	$ 84.6 millones
Ingresos promedio por usuario	$18.75
Tasa de conversión	3.2%

PlayStudios, Inc. (MYPS) - Modelo de negocios: recursos clave

Tecnología de desarrollo de juegos patentada

PlayStudios utiliza la plataforma de desarrollo de juegos MyVegas, que permite experiencias de juegos de casino social multiplataforma. A partir del cuarto trimestre de 2023, la plataforma admite:

Capacidad de plataforma	Métrico
Títulos de juego totales	7 títulos de juegos móviles activos
Usuarios activos mensuales	3.8 millones de usuarios
Compatibilidad de la plataforma	iOS, Android, Facebook

Equipo de diseño y desarrollo de juegos calificados

PlayStudios mantiene una fuerza laboral especializada dedicada al desarrollo de juegos:

Composición del equipo	Número
Total de empleados	214 al 31 de diciembre de 2023
Desarrolladores de juegos	89 profesionales a tiempo completo
Experiencia promedio	7.4 años en desarrollo de juegos

Propiedad intelectual y carteras de juegos

Detalles de la cartera de juegos clave:

• Slots de MyVegas: Juego de casino social primario
• MyVegas Blackjack
• myvegas bingo
• Propiedad intelectual total registrada: 12 títulos de juego

Infraestructura de datos e analítica de usuarios

Métricas de infraestructura de datos:

Métrico de datos	Medición
Usuarios activos diarios	1.2 millones
Capacidad de procesamiento de datos	2.5 petabytes por mes
Análisis en tiempo real	99.7% de tiempo de actividad

Capacidades de marketing digital

Detalles de la infraestructura de marketing:

• Presupuesto de marketing digital: $ 6.3 millones en 2023
• Plataformas de compromiso de las redes sociales: 5 canales principales
• Tasa de conversión: 4.2% en campañas de marketing digital

PlayStudios, Inc. (MYPS) - Modelo de negocio: propuestas de valor

Experiencias de juego de casino social gratuito

A partir del cuarto trimestre de 2023, PlayStudios ofrece 9 juegos móviles en múltiples plataformas. La compañía reportó 3,4 millones de usuarios activos mensuales en su cartera de juegos de casino social.

Categoría de juego	Número de juegos	Usuarios activos mensuales
Juegos de casino social	9	3.4 millones

Programa único de recompensas de lealtad (MyVegas)

El programa de lealtad de MyVegas generó $ 54.8 millones en ingresos para 2023, lo que representa el 18.2% de los ingresos totales de la compañía.

• Más de 30 millones de miembros del programa de fidelización registrados
• Asociaciones con más de 130 marcas y experiencias del mundo real
• Valor de redención de miembro promedio: $ 42 por recompensa

Innovadora mecánica de juego multiplataforma

PlayStudios admite el juego en 3 plataformas principales: redes móviles, web y de redes sociales.

Plataforma	Penetración de usuario
Móvil	78%
Web	15%
Redes sociales	7%

Juegos móviles entretenidos e interactivos

El segmento de juegos móvil generó $ 203.4 millones en 2023, con una participación promedio del usuario de 45 minutos por día.

Recompensas y experiencias del mundo real

En 2023, Playstudios facilitó 1.2 millones de reembolsos de recompensas del mundo real en sectores de hospitalidad, entretenimiento y viajes.

• Recompensas de estadía en hotel: 410,000 reembolsos
• Entretenimientos: 350,000 reembolsos
• Experiencias de viaje: 440,000 reembolsos

PlayStudios, Inc. (MYPS) - Modelo de negocios: relaciones con los clientes

Compromiso comunitario a través de características sociales

PlayStudios aprovecha las interacciones de juegos sociales en su cartera de juegos móviles y en línea. A partir del cuarto trimestre de 2023, la compañía reportó 3,4 millones de usuarios activos mensuales en sus plataformas de juego.

Plataforma social	Métricas de participación del usuario
Ranuras de MyVegas	1.2 millones de usuarios activos mensuales
¡ESTALLIDO! Ranura	850,000 usuarios activos mensuales
MyVegas Blackjack	425,000 usuarios activos mensuales

Experiencias de juego personalizadas

PlayStudios implementa algoritmos de recomendación personalizados para mejorar la participación del usuario. El 87% de los usuarios reciben contenido de juego personalizado basado en su historial de juego..

Actualizaciones regulares del juego y nuevo contenido

La compañía publica actualizaciones de contenido del juego en promedio:

• 2-3 nuevos eventos temáticos por mes
• Mejoras mensuales de características del juego
• Expansiones trimestrales de contenido principal

Canales de atención al cliente y comentarios

Canal de soporte	Tiempo de respuesta
Soporte en la aplicación	Promedio de 2-4 horas
Soporte por correo electrónico	Promedio de 24-48 horas
Apoyo en las redes sociales	Promedio de 6-12 horas

Incentivos del programa de fidelización

El programa de lealtad de PlayStudios, LoyaltyPoints, reportado en 2023:

• 2.1 millones de miembros del programa de fidelización activa
• $ 18.3 millones en recompensas de lealtad redimidas
• Tasa promedio de retención de miembros del 68%

PlayStudios, Inc. (MYPS) - Modelo de negocios: canales

Tiendas de aplicaciones móviles

PlayStudios distribuye juegos a través de:

Plataforma	Descargar estadísticas
Apple App Store	3.7 millones de descargas de juegos de MyVegas a partir del cuarto trimestre 2023
Google Play Store	2.9 millones de descargas de juegos de MyVegas a partir del cuarto trimestre 2023

Descargas directas de aplicaciones móviles

Descargar directamente Métricas para PlayStudios Mobile Games:

• Descargas totales de juegos móviles: 6.8 millones en 2023
• Usuarios activos mensuales: 1.2 millones
• Usuarios activos diarios promedio: 385,000

Plataformas de marketing en redes sociales

Plataforma	Métricas de compromiso
Facebook	412,000 seguidores
Instagram	187,000 seguidores
Gorjeo	95,000 seguidores

Redes publicitarias en línea

Gasto de publicidad digital:

• Gasto total de marketing digital en 2023: $ 4.3 millones
• Costo por instalación (CPI): $ 1.20
• Tasa de conversión publicitaria: 3.7%

Sitio web y campañas de marketing digital

Canal digital	Métricas de rendimiento
Sitio web de la empresa	1.2 millones de visitantes únicos en 2023
Marketing por correo electrónico	742,000 base de suscriptores
Alcance de la campaña digital	8.6 millones de impresiones en 2023

PlayStudios, Inc. (MYPS) - Modelo de negocios: segmentos de clientes

Jugadores móviles de 21 a 55 años

Según los informes de inversores 2023 de PlayStudios, este grupo demográfico representa el 68% de su base de usuarios totales.

Grupo de edad	Porcentaje	Compromiso mensual promedio
21-35	42%	12.4 horas
36-55	26%	8.7 horas

Entusiastas del juego de casino social

PlayStudios reportó 3,2 millones de jugadores activos de juegos de casino social en el cuarto trimestre de 2023.

• Predominantemente usuarios masculinos: 57%
• Gasto promedio por usuario: $ 24.50 mensual
• Plataformas principales: dispositivos móviles (92%)

Jugadores de juegos móviles casuales y hardcore

Desglose de segmentación de jugadores de 2023 Informe anual:

Tipo de jugador	Porcentaje	Sesiones diarias promedio
Jugadores casuales	73%	2.1 sesiones
Jugadores hardcore	27%	5.6 sesiones

Buscadores de programas de recompensas

Estadísticas del programa de lealtad de MyVegas de PlayStudios para 2023:

• Miembros del programa de fidelización total: 4.5 millones
• Usuarios mensuales activos: 1.8 millones
• Tasa de redención de recompensas: 22%

Consumidores de entretenimiento digital

Datos de penetración del mercado de 2023 Informe financiero:

Categoría de consumidor	Cuota de mercado	Extensión geográfica
Estados Unidos	65%	A escala nacional
Mercados internacionales	35%	Europa, Asia-Pacífico

PlayStudios, Inc. (MYPS) - Modelo de negocio: Estructura de costos

Desarrollo de juegos y gastos de diseño

Para el año fiscal 2023, PlayStudios reportó gastos de desarrollo de juegos de $ 22.3 millones, lo que representa el 31.5% de los costos operativos totales.

Categoría de gastos	Costo anual	Porcentaje de costos totales de desarrollo
Desarrollo de software	$ 12.7 millones	57%
Diseño de juegos	$ 6.2 millones	28%
Prueba de control de calidad	$ 3.4 millones	15%

Costos de marketing y adquisición de usuarios

En 2023, PlayStudios gastó $ 37.5 millones en marketing y adquisición de usuarios, que representaba el 42% de los gastos operativos totales.

• Gasto publicitario digital: $ 18.2 millones
• Marketing en redes sociales: $ 8.7 millones
• Asociaciones de influencia: $ 5.6 millones
• Campañas de medios tradicionales: $ 5 millones

Mantenimiento de la infraestructura tecnológica

Los costos de infraestructura tecnológica para 2023 totalizaron $ 15.6 millones.

Componente de infraestructura	Costo de mantenimiento anual
Servicios en la nube	$ 8.3 millones
Infraestructura de red	$ 4.2 millones
Ciberseguridad	$ 3.1 millones

Salarios de empleados y sobrecarga operativa

Los gastos totales relacionados con los empleados en 2023 fueron de $ 45.2 millones.

• Salarios base: $ 32.7 millones
• Beneficios y seguros: $ 7.5 millones
• Compensación basada en acciones: $ 5 millones

Servicios de computación y alojamiento en la nube

Los gastos de computación en la nube para 2023 ascendieron a $ 8.3 millones.

Proveedor de servicios en la nube	Costo anual	Porcentaje del presupuesto de la nube
Servicios web de Amazon (AWS)	$ 5.6 millones	67%
Plataforma en la nube de Google	$ 2.1 millones	25%
Microsoft Azure	$ 0.6 millones	8%

PlayStudios, Inc. (MYPS) - Modelo de negocios: flujos de ingresos

Compras de divisas virtuales en la aplicación

PlayStudios generó $ 57.3 millones en ventas de divisas virtuales en el tercer trimestre de 2023. Los jugadores compran monedas virtuales y chips en su cartera de juegos de estilo móvil de casino.

Plataforma de juego	Ingresos de moneda virtual	Contribución porcentual
Ranuras de MyVegas	$ 23.4 millones	40.8%
MyVegas Blackjack	$ 15.6 millones	27.2%
¡ESTALLIDO! Ranura	$ 18.3 millones	32%

Microtransacciones en el juego

PlayStudios reportó $ 42.7 millones de microtransacciones en 2023, lo que representa el 26.5% de los ingresos totales de los juegos.

• Valor promedio de microtransacción: $ 4.75
• Usuarios activos mensuales que realizan microtransacciones: 685,000
• Tasa de conversión: 18.3%

Ingresos publicitarios

La publicidad generó $ 18.2 millones en 2023, con colocaciones de anuncios programáticos y en el juego.

Tipo AD	Ganancia	Porcentaje
Anuncios programáticos	$ 12.6 millones	69.2%
Ubicaciones en el juego	$ 5.6 millones	30.8%

Asociaciones del programa de fidelización

Las asociaciones de lealtad de PlayStudios generaron $ 35.4 millones en 2023, con 47 asociaciones de marca activa.

• Valor de asociación promedio: $ 753,000
• Socios principales: MGM Resorts, Caesars Entertainment
• Tasa de redención de puntos de lealtad: 22.6%

Contenido y características del juego premium

Las ventas de contenido premium alcanzaron $ 22.9 millones en 2023, con 315,000 compras de contenido premium.

Característica premium	Ganancia	Unidades vendidas
Modos de juego exclusivos	$ 8.6 millones	124,000
Membresía VIP	$ 14.3 millones	191,000

PLAYSTUDIOS, Inc. (MYPS) - Canvas Business Model: Value Propositions

You're looking at the core reasons players choose PLAYSTUDIOS, Inc. (MYPS) over other mobile gaming options, which really boils down to the tangible value they get back for their time spent in the games. It's a unique blend of digital entertainment and real-world perks that few competitors can match.

Real-world rewards (hotel stays, meals) for in-game play.

The playAWARDS loyalty platform is the central differentiator, turning in-game activity into tangible real-world value. This is the mechanism that builds deeper loyalty and longer-lasting relationships with players. The scale of this value proposition is significant, though the company is curating for higher quality rewards over sheer volume in some periods. For the third quarter of 2025 alone, players purchased 202,666 rewards with a stated retail value of $15 million. Looking at the program's history, PLAYSTUDIOS' myVIP program has successfully distributed over 17 million rewards valued at an impressive $864 million from more than 230 partner brands, reaching 11.7 million players worldwide. For context on the previous year, during 2024, players purchased 1.8 million rewards with a retail value of $114 million.

Diverse portfolio of free-to-play social casino and casual games.

PLAYSTUDIOS, Inc. offers a portfolio that spans both social casino and casual gaming, which helps broaden the audience base for the playAWARDS platform. Flagship social casino titles include POP! Slots, myVEGAS Slots, and myKONAMI Slots. The casual segment includes titles from the Brainium acquisition, such as the iconic Tetris® mobile app, Solitaire, Spider Solitaire, and Sudoku. While the casual segment experienced pressure on Daily Active Users (DAU) in the third quarter of 2025, the myKONAMI title specifically showed double-digit year-over-year increases in ARPDAU for that quarter. The Average Revenue Per Daily Active User (ARPDAU) across the portfolio for Q3 2025 was $0.28. The company is also advancing its diversification with the soft launch of the new casual title, Tetris Block Party, targeting a Q4 launch.

Direct-to-Consumer (DTC) channel for better purchase margins.

The DTC channel is a strategic focus area, allowing for better purchase margins by bypassing third-party app stores for certain transactions. This channel showed strong growth momentum through the first three quarters of 2025. In the third quarter of 2025, DTC revenue reached $7.7 million, marking a 48% quarter-over-quarter increase. This represented 16.7% of total in-app purchase revenue for the quarter, a substantial increase from 9.1% in Q3 of 2024. For the first half of 2025, DTC revenue totaled $11.7 million, which was up 109.8% year-over-year.

Here's a quick look at how the DTC channel is scaling relative to total in-app purchases:

Metric	Q3 2025 Value	Q3 2024 Value	Q1 2025 Value
Direct-to-Consumer Revenue	$7.7 million	$5.2 million	$5 million
DTC as % of Total IAP Revenue	16.7%	N/A	9.8%
YoY DTC Revenue Growth (Q1)	N/A	N/A	114%

Exclusive myVIP World Tournament of Slots events for top players.

The myVIP World Tournament of Slots (WTOS) serves as a high-profile, exclusive event that connects digital play with destination entertainment, reinforcing the loyalty proposition. PLAYSTUDIOS, Inc. successfully completed its second annual WTOS in October 2025. This event brought together 500 of the world's top social casino and real world slot players at Atlantis Paradise Island, Bahamas, from October 22-26, 2025. The competition featured a $1 million grand prize. The inaugural tournament was hosted in 2024.

New sweepstakes mechanic to re-engage social casino players.

To address market shifts and re-energize the social casino portfolio, the company is aggressively developing and testing a sweepstakes promotional mechanic. This is a critical initiative for future engagement. As of the second quarter of 2025, the sweepstakes initiative had an open beta live in seven states. Management noted improving retention, conversion, and monetizer yields from this beta, with a measured plan to scale across eligible U.S. states later in 2025.

The key operational metrics supporting these value propositions in Q3 2025 were:

• Average DAU: 2.2 million.
• Average MAU: 9.5 million.
• Total Revenue: $57.6 million.
• Cash on hand: $106.3 million as of September 30, 2025.

Finance: draft 13-week cash view by Friday.

PLAYSTUDIOS, Inc. (MYPS) - Canvas Business Model: Customer Relationships

PLAYSTUDIOS, Inc. structures its customer relationships around a tiered loyalty ecosystem, blending automated service with exclusive, high-touch experiences for its most valuable players.

Automated in-game customer support and FAQ systems.

The foundation of daily player interaction relies on scalable, automated support within the games. This self-service layer handles the bulk of routine inquiries, allowing the company to manage its large player base efficiently. While specific metrics on ticket resolution time or deflection rate aren't public, this system supports the 2.2 million Average Daily Active Users (DAU) reported for the Casino segment in the third quarter of 2025.

High-touch, personalized service for myVIP high-value players.

PLAYSTUDIOS, Inc. dedicates significant resources to its top-tier players through the myVIP structure. This high-touch service is exemplified by exclusive events. For instance, the second annual myVIP World Tournament of Slots (WTOS) took place from October 22-26, 2025, at Atlantis Paradise Island, Bahamas, featuring a $1 million cash prize. This level of personalized engagement is critical for retaining the players who generate the highest lifetime value.

Community building through social features and live tournaments.

Community is fostered through in-game social features and marquee events. The myVIP World Tournament of Slots serves as the pinnacle of this strategy, bringing together top players for real-world competition and brand immersion. Earlier in 2024, the inaugural tournament hosted over 500 players, elevating the appeal of the brands. This focus on shared, exclusive experiences drives deeper emotional connection beyond simple gameplay.

Direct communication via the growing DTC channel.

The Direct-to-Consumer (DTC) channel represents a significant, growing relationship touchpoint, allowing PLAYSTUDIOS, Inc. to bypass platform fees and communicate directly about purchases. This channel has shown substantial sequential growth throughout 2025, indicating increasing player adoption of direct purchasing options. The company is actively working to improve conversion and margins here, expecting further benefits from platform policy changes.

Here's how the DTC revenue has scaled through the first three quarters of 2025:

Metric	Q1 2025	Q2 2025	Q3 2025
DTC Revenue (Millions USD)	$5.0	$6.7	$7.7
Sequential Quarter-over-Quarter Growth	N/A	34%	48%
% of Total In-App Purchase Revenue	9.8%	13.9%	16.7%

For the first half of the year, total DTC revenue reached $11.7 million, marking a year-over-year increase of 109.8%.

Loyalty program tiers to drive long-term player retention.

The playAWARDS loyalty platform is the core differentiator, enabling players to earn real-world rewards. The perceived value of these points drives long-term retention, though reward redemption volume can fluctuate based on management's curation strategy. The program has historically given out over 17 million awards valued at $864 million from more than 230 partner brands to 11.7 million players worldwide. In the third quarter of 2025, players redeemed 202,666 rewards with a total retail value of $15 million. This contrasts with the 300,000 rewards purchased in Q4 2024, valued at $17.2 million, showing a strategic focus on higher-quality, perhaps fewer, redemptions in Q3 2025.

The structure encourages continuous play across the portfolio of games, which includes titles like MyVegas Slots, PopSlots, and Tetris. The overall player base for the Casino segment stood at 9.5 million Monthly Active Users (MAU) as of September 30, 2025.

Finance: finalize the Q4 2025 cash flow projection by next Tuesday.

PLAYSTUDIOS, Inc. (MYPS) - Canvas Business Model: Channels

You're looking at how PLAYSTUDIOS, Inc. (MYPS) gets its games and rewards into players' hands as of late 2025. The channels are a mix of traditional mobile distribution and a growing focus on direct customer relationships to improve margins.

The core distribution for the playGAMES portfolio, which includes the social casino titles and the newly launched casual games, still relies heavily on the major mobile ecosystems. Social media platforms, like Facebook, also serve as a key access point for game discovery and user acquisition, though specific user metrics tied only to social channels aren't broken out separately from the overall platform performance.

• Apple App Store and Google Play Store for game distribution.
• Social media platforms for game access and initial player engagement.

For Q3 2025, the overall player base metrics, which reflect the reach through these primary app stores and social channels, showed some contraction compared to prior periods. Average Daily Active Users (DAU) settled at 2.2 million, and Average Monthly Active Users (MAU) stood at 9.5 million. This contrasts with the Q1 2025 figures of 2.6 million DAU and 11.4 million MAU.

The Direct-to-Consumer (DTC) website is a critical channel for bypassing platform fees, which directly impacts gross margins on virtual currency sales. This channel saw significant acceleration in 2025, showing a clear strategic shift in how PLAYSTUDIOS, Inc. monetizes its most engaged players.

Period End Date	DTC Revenue (Millions USD)	YoY Growth	DTC % of Total In-App Purchase Revenue
Q3 2025	$7.7	48% Quarter-over-Quarter	16.7%
Q2 2025	$6.7	N/A	N/A
Q1 2025	$5.0	113.9% Year-over-Year	9.8%
Q4 2024	$4.7	93.0% Year-over-Year	N/A

The DTC revenue of $7.7 million in Q3 2025 represented a substantial increase from the 9.1% share it held in Q3 2024. This focus on direct sales is intended to improve margins, especially as the company navigates softer core portfolio monetization.

The dedicated web/app for the new Win Zone sweepstakes offering represents a newer, highly focused channel, particularly important for growth in 2026. This initiative is designed to capture a segment of the market shifting from pure social casino play. The Win Zone launched in beta across several markets in Q3 2025.

• The Win Zone is currently live in at least 15 states as of late 2025.
• The company is targeting a full U.S. rollout across all available jurisdictions by year-end 2025.
• The addressable market for the remaining open states is projected by management to be valued between $3.5 billion and $4 billion (net revenue basis).

The playAWARDS platform connects in-game activity to partner-owned physical locations for reward redemption, which is the unique value exchange channel for PLAYSTUDIOS, Inc. This drives loyalty and is a key differentiator. For Q3 2025, players exchanged loyalty points for 202,666 rewards, which carried a total retail value of $15 million.

Metric	Q3 2025 Data	Q1 2025 Data	Q4 2024 Data
Rewards Purchased (Count)	202,666	280,652	N/A
Retail Value of Rewards Purchased (Millions USD)	$15	$17	$17.2 (for Q4 2024)

To give you a sense of the program's historical scale, as of December 31, 2024, players had redeemed over 16 million rewards with a cumulative retail value exceeding $824 million. Partners facilitating these redemptions include entities like MGM Resorts International and Norwegian Cruise Line.

PLAYSTUDIOS, Inc. (MYPS) - Canvas Business Model: Customer Segments

You're looking at the core groups PLAYSTUDIOS, Inc. (MYPS) serves as of late 2025, based on their Q3 2025 operational snapshot. Honestly, the segments are clearly defined by their engagement with the playAWARDS loyalty platform and the type of game they prefer.

High-monetizing social casino players seeking real-world perks.

This group is central to the playAWARDS ecosystem, driving the value exchange between in-game spending and real-world benefits. While the core social casino business faced headwinds, the high-value players are still present. In the third quarter of 2025, players purchased 202,666 rewards through playAWARDS, which carried a total retail value of $15 million. The direct-to-consumer (DTC) revenue, which is closely tied to these loyalty transactions, reached $7.7 million in Q3 2025, marking a 48% year-over-year increase and representing 16.6% of total virtual currency revenue. This shows a clear shift in focus toward monetizing this segment through DTC channels, even as overall Daily Active Users (DAU) for the Casino segment remained stable sequentially.

Casual mobile gamers (fans of Tetris, Solitaire, Sudoku).

This segment is housed primarily under the playGAMES segment, including titles from the Brainium and Tetris Prime studios. This group experienced significant pressure in 2025. The casual business accounted for most of the sequential audience decline reported in Q3 2025. The company is actively working to stabilize this base, noting that the Average DAU across all playGAMES titles was 2.2 million in Q3 2025, with Average MAU at 9.5 million. The Average Revenue Per Daily Active User (ARPDAU) for the entire platform was $0.28 in that same quarter. New titles like Tetris Block Party are aimed at diversifying this segment for 2026.

The key operational metrics for the platform in Q3 2025 were:

Metric	Value (Q3 2025)
Average DAU	2.2 million
Average MAU	9.5 million
ARPDAU	$0.28
Total Revenue	$57.6 million
Cash and Equivalents (as of Sep 30, 2025)	$106.3 million

Players in regulated jurisdictions eligible for the sweepstakes product.

This is a developing segment driven by the rollout of the sweepstakes initiative, The Win Zone. As of Q3 2025, the open beta for this sweepstakes product was active across 15 states in the US. The strategy here is to bring this feature live in all available jurisdictions by the end of 2025 to enable scaled user acquisition efforts, targeting players who prefer sweepstakes mechanics over traditional social casino play.

Global travelers and entertainment seekers utilizing rewards.

This group is defined by their redemption behavior on the playAWARDS platform. The platform itself is a key differentiator, connecting in-game engagement with real-world entertainment. The playAWARDS loyalty platform enables earning rewards from a portfolio of global brands across 17 countries and four continents. This appeals directly to players who value travel, dining, and entertainment redemptions. The company streamlined the program over the past year to focus on higher-quality partners and more aspirational rewards, alongside expanding digital benefits like vanity items.

You can see the breakdown of the game portfolio that feeds these segments:

• Social casino titles like myVEGAS Slots and POP! Slots.
• Card and puzzle games like Solitaire and Sudoku.
• Newer casual titles like Tetris.

Finance: draft 13-week cash view by Friday.

PLAYSTUDIOS, Inc. (MYPS) - Canvas Business Model: Cost Structure

You're looking at the expenses PLAYSTUDIOS, Inc. faces to keep its games running and its loyalty program ticking over. It's a mix of tech talent, marketing to bring in new players, and the cost of those real-world rewards.

The company executed a significant Cost Reinvention plan, which involved a roughly 30% reduction in workforce and suspending sub-scale game development. This effort was targeted to deliver normalized annual cost savings of approximately $25 million to $30 million.

Personnel costs for game development and live operations are a major component, though specific dollar figures for the latest period aren't explicitly broken out separate from general operating expenses, other than the workforce reduction indicating a direct impact here.

User acquisition and marketing spend for new players has been managed carefully. In the second quarter of 2025, management deliberately scaled back marketing spend to focus on margin contribution from the casual portfolio. For the third quarter of 2025, the reported line item for User acquisition was $9,389 (units not specified, but likely in thousands). The intention is to deploy more meaningful capital into scaling user acquisition once new initiatives like the sweepstakes show clear cohort metrics.

The loyalty rewards cost, which is the liability for partner-provided rewards, is tracked by the retail value of rewards purchased by players. This activity level shows the scale of the underlying cost commitment to partners. For instance, in the third quarter of 2025, players purchased rewards with a retail value of $15 million.

Platform fees paid to Apple and Google are a key variable cost tied to in-app purchases (IAP). While the prompt mentions a 30% rate on non-DTC sales, the growth of the Direct-to-Consumer (DTC) channel, which bypasses these fees, shows the company's effort to manage this cost. DTC revenue reached $7.7 million in the third quarter of 2025, making up 16.7% of total IAP revenue.

Here's a look at how some of these cost-related activities scaled across recent periods:

Metric	Q3 2025	Q2 2025	Q4 2024 (Q4)
Retail Value of Rewards Purchased	$15 million	$13 million	$17.2 million
Direct-to-Consumer Revenue	$7.7 million	$6.7 million	$4.7 million
DTC as % of Total IAP Revenue	16.7%	13.9%	9.1%

The company's focus on operational efficiency is clear, with the reinvention program aiming to save between $25 million and $30 million annually. AI is also being used across the game development pipeline, creative tooling, and UA modeling to help the company operate more efficiently.

• Cost Reinvention Program Savings Target: $25M to $30M annually.
• Workforce Reduction from Reinvention: Roughly 30%.
• Q3 2025 Rewards Retail Value: $15 million.
• Q3 2025 Direct-to-Consumer Revenue: $7.7 million.
• Q3 2025 User Acquisition Spend Line Item: $9,389 (units not specified).

PLAYSTUDIOS, Inc. (MYPS) - Canvas Business Model: Revenue Streams

PLAYSTUDIOS, Inc. (MYPS) generates revenue through several distinct channels, primarily centered around its free-to-play mobile and social games and the playAWARDS loyalty platform.

The core monetization engine remains the In-App Purchases (IAP) of virtual currency in games. For context, in the first quarter of 2025, the direct-to-consumer channel within IAP generated approximately $5 million, which was 9.8% of the total IAP revenue for that quarter. Revenue from Advertising revenue from in-game placements also contributes, though year-over-year declines in Q3 2025 were partially attributed to lower advertising revenue.

A significant growth area is the Direct-to-Consumer (DTC) sales channel. This segment reached $7.7 million in the third quarter of 2025, marking a 48% increase year-over-year. This DTC revenue represented 16.7% of total in-app purchase revenue in Q3 2025.

The company is actively scaling new revenue initiatives, specifically the Revenue from new sweepstakes offering (scaling in H2 2025). The WinZone sweepstakes platform was in open beta across 15 states, with management targeting a live launch in all available jurisdictions by the end of 2025, positioning it for scaled user acquisition deployment and contribution in 2026.

The overall financial outlook for the year is anchored by the initial Full-year 2025 revenue guidance which is between $250 million and $270 million. However, following Q3 2025 results, management indicated that full-year results for net revenue are now expected to fall below the low end of that previously provided guidance range.

Here is a snapshot of key revenue-related figures as of late 2025:

Metric	Value	Period/Context
Q3 2025 Total Revenue	$57.6 million	Quarter Ended September 30, 2025
DTC Revenue	$7.7 million	Q3 2025
DTC Revenue as % of Total IAP Revenue	16.7%	Q3 2025
Year-to-Date Revenue	$179.7 million	Through Q3 2025
Reaffirmed FY 2025 Net Revenue Guidance Range	$250 million and $270 million	Initial Guidance

The revenue streams can be broken down by focus area:

• In-App Purchases (IAP) of virtual currency in games.
• Advertising revenue from in-game placements.
• Direct-to-Consumer (DTC) sales, reaching $7.7 million in Q3 2025.
• Revenue from new sweepstakes offering (scaling in H2 2025).
• Full-year 2025 revenue guidance is between $250 million and $270 million.

The company is also focused on leveraging its playAWARDS platform to drive engagement, which underpins the IAP revenue. In Q3 2025, players purchased 202,666 rewards with a retail value of $15 million through this platform.