Tether Games’ skill-based titles hit $250M in lifetime revenue
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Tether Games is one of those quiet companies in gaming that sneaks up on you. I hadn’t heard of them before, but they just announced that Tether’s 27 mobile games have generated $250 million in lifetime revenue and hit 30 million downloads.
Tim and Aletheia O’Neil founded the Henderson, Nevada company in 2014. Starting in 2016, they started creating games where players can place wagers in competitive matches with other players. And they released their titles on Skillz, which grew quickly and was able to go public last year in a public offering known as a SPAC (special purpose acquisition company). Skillz is now valued at $1 billion in the stock market, but it’s an interesting fact that five of the top 10 games on Skillz were created by Tether Games. But the folks at Skillz are finally taking stock of their accomplishments, and they will announce new titles soon that will push the boundaries of skill-based games to new genres and new audiences.
While the esports industry at large grew to over $1 billion in 2021 (Newzoo), the mobile sector within this industry has also grown worldwide, even outpacing console and PC competitive gaming. Tether Games believes that industry reports are undercounting the growth of mobile downloads and revenue in skill-based gaming by up to 60%, based on the company’s own internal data on player engagement and spend.
The skill-based game market isn’t huge as some people don’t like wagering. People have to become familiar with the system to trust it as fair. The market is growing and Skillz has helped popularize it by pointing out how much money some players are making.
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