PLAYSTUDIOS Secures Exclusive Five-Year Extension to Iconic TETRIS® Mobile License

Rhea-AI Summary

PLAYSTUDIOS (ticker symbol: PLAY) Extends Exclusive Mobile Licensing Agreement with The Tetris Company, Securing Future Growth Opportunities. The agreement includes an initial five-year extension with an additional three-year option, strategically positioning PLAYSTUDIOS for sustained organic growth and cost-efficient audience development within key mobile gaming categories. The extension comes at a time when user acquisition for new games is increasingly challenging due to market saturation, rising advertising costs, and shifting player preferences.

Positive

• The extension of the exclusive mobile licensing agreement with The Tetris Company provides PLAYSTUDIOS with a long-term strategic advantage in the competitive mobile gaming market, positioning the company for sustained organic growth and cost-efficient audience development.
• Securing the globally-recognized TETRIS brand within PLAYSTUDIOS' portfolio ensures continued revenue streams and enhances the company's position in key mobile gaming categories such as puzzle and strategy.

Negative

• None.

New Agreement Will Be Key to Unlocking Future Player and Revenue Growth for PLAYSTUDIOS and The Tetris Company

LAS VEGAS--(BUSINESS WIRE)-- PLAYSTUDIOS today announced that it has extended its exclusive mobile licensing agreement with The Tetris Company for the iconic TETRIS^® game. The initial five-year extension, which includes an additional three-year option (for up to eight years total), comes at a time when user acquisition for new games is increasingly challenging due to market saturation, rising advertising costs, and shifting player preferences. By keeping the globally-recognized TETRIS brand within the PLAYSTUDIOS portfolio, the company strategically positions itself for sustained organic growth and cost-efficient audience development within key mobile gaming categories, such as puzzle and strategy.

Jason Hahn, PLAYSTUDIOS’ Executive Vice President of Corporate and Business Development, stated, “The extension of our exclusive license with The Tetris Company isn’t just about continuing a successful partnership. It also opens up new strategic opportunities, allowing us to make long-term investments in growing the TETRIS brand. We believe that this opportunity will prove pivotal in expanding our player network, bolstering our playAWARDS platform, and navigating the complexities of growth in today’s market. We also appreciate the vote of confidence it signals from The Tetris Company.”

In the two years that PLAYSTUDIOS has been the TETRIS mobile publisher of record, the company has injected new features and introduced the brand to a new generation of mobile gamers. The most significant of PLAYSTUDIOS’ enhancements has been the integration of the company’s proprietary myVIP loyalty program that offers engaged players real-world rewards in exchange for their in-app engagement. This introduces an entirely new dimension to the game play experience and the company has seen increases in a number of key performance metrics, including player retention and monetization.

Maya Rogers, President of The Tetris Company, added, “Working with PLAYSTUDIOS has been an incredible journey. They have been exceptional stewards of the TETRIS brand, respecting its legacy while steering it in promising new directions. They have repeatedly demonstrated their dedication, creativity, and understanding of what makes TETRIS so special to so many people. We are thrilled to continue this partnership and are excited to see how PLAYSTUDIOS will further elevate the TETRIS experience.”

About PLAYSTUDIOS

PLAYSTUDIOS (Nasdaq: MYPS), creator of the groundbreaking playAWARDS loyalty platform, is a publisher and developer of award-winning mobile games, including the iconic Tetris® mobile app, POP! Slots, myVEGAS Slots, myVEGAS Blackjack, my KONAMI Slots, myVEGAS Bingo, MGM Slots Live, Solitaire, Spider Solitaire and Sudoku. The playAWARDS loyalty platform enables players to earn real-world rewards from a global collection of iconic hospitality, entertainment, and leisure brands. playAWARDS partners include MGM Resorts International, Wolfgang Puck, Norwegian Cruise Line, Resorts World, IHG, Bowlero, Gray Line Tours, and Hippodrome Casino among others. Founded by a team of veteran gaming, hospitality, and technology entrepreneurs, PLAYSTUDIOS apps combine the best elements of popular casual games with compelling real-world benefits. To learn more about PLAYSTUDIOS, visit playstudios.com.

About the TETRIS^® Brand

The Tetris^® brand is one of the leading and most distinctive video game brands and franchises in the world. Celebrating its 40th Anniversary in 2024, the brand continues to be loved globally by people of all ages and all cultures. Billions of Tetris games are played online every year, and over 520 million units have been sold worldwide. The Tetris brand’s global licensee network includes major video game publishers, including Nintendo and Sega, as well as many partners in electronics, toys and games, apparel, accessories, entertainment and more. Tetris Holding, LLC, is the owner of Tetris rights worldwide, and The Tetris Company, Inc. is its exclusive licensee. For the latest information about the Tetris brand and Tetris products, please visit www.tetris.com.

Become a fan of Tetris on Facebook (@Tetris) and follow Tetris on Twitter (@Tetris_Official) and Instagram (@Tetris_Official). Learn more about the history of the game by watching the Apple Original Film "Tetris" now streaming on Apple TV+.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231114217532/en/

PLAYSTUDIOS

Berlin Rosen

media@playstudios.com

Source: PLAYSTUDIOS

FAQ

What is the duration of the extended licensing agreement between PLAYSTUDIOS and The Tetris Company?

The agreement includes an initial five-year extension with an additional three-year option, potentially extending the partnership for up to eight years.

Why is user acquisition for new games increasingly challenging for mobile gaming companies?

User acquisition is becoming more challenging due to market saturation, rising advertising costs, and shifting player preferences.

How does the extension of the licensing agreement benefit PLAYSTUDIOS?

The extension strategically positions PLAYSTUDIOS for sustained organic growth and cost-efficient audience development within key mobile gaming categories, such as puzzle and strategy, by keeping the globally-recognized TETRIS brand within the company's portfolio.