Social Sweeps, the $6B Gaming Category Hiding in Plain Sight

In this episode, host Niko Vuori and guest Sean Ryan delve into the emerging category of social sweepstakes, a gaming model that barely existed as recently as 2017 but has rapidly evolved into a multi-billion dollar industry. In 2023, social sweeps generated almost $6 billion in revenue, and this number is expected to double to nearly $12 billion by next year, 2025. What are social sweeps? When a gaming product offers users real-world prizes without the element of consideration. Removal of consideration takes place via the existence of an alternate method of entry, such as sending in a postcard, so that users can potentially receive real prizes without making a purchase.Niko and Sean explore the mechanics of social sweeps, the regulatory challenges that come with it, and the role of VGW as a pioneer in the space. The conversation also touches on the target audience, user journey, and the future potential of social sweeps in the broader gaming market. Check out Sean's company, Zoot, on the web.We’d also like to thank TikTok for making this episode possible. In a dynamic gaming market where a majority of games fail within three years, TikTok has become a critical partner in helping games achieve long-term player retention and substantial revenue growth. Learn more: https://bit.ly/LiveOpsProgramNAVPodcast If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at [email protected] the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.