Top Mobile Marketing Reads of 2023

Navigating through the tumultuous terrain of the mobile industry in 2023, from widespread big tech layoffs driven by economic challenges to multimillion-dollar acquisitions, has been akin to riding a rollercoaster. At MMR, our commitment to keeping our esteemed readers informed remained unwavering, as we delivered the freshest updates in this dynamic and ever-changing market. 

As the curtains fall on 2023, we invite you to reflect on the year’s noteworthy moments by exploring the most engaging Mobile Marketing Reads that captivated our readers throughout the year.

Microsoft’s closing of $69 billion Activision Blizzard acquisition 

In January 2022, Microsoft shook the gaming industry with its announcement to acquire Activision Blizzard for a staggering $68.7 billion. As the year unfolded, the blockbuster deal faced challenges in the form of inquiries, legal actions, and investigations from governments globally, casting uncertainty on its fate. 

The initial deadline set for July had to be prolonged until October 18th, and, at certain points, the acquisition’s realization remained in question. However, in October 2023, Microsoft successfully closed its $69 billion acquisition of Activision Blizzard. This move significantly bolstered Microsoft’s foothold in the video gaming market, incorporating highly popular titles such as “Call of Duty” to strengthen its competitive standing against industry frontrunner Sony.

MediaMath bankruptcy

In July, demand-side platform (DSP) MediaMath sought bankruptcy protection, initiating an emergency procedure after unsuccessful negotiations with potential acquirers. Approximately six weeks post the Chapter 11 filing, the company found a new home for its ad tech assets with Infillion. Infillion’s bid of $22 million for MediaMath’s DSP and DMP assets gained approval from a Delaware bankruptcy court, and the acquisition was successfully concluded in September.

In 2022, MediaMath boasted over $500 million in Gross Ad Spend, generated over $100 million in Net Revenue, and maintained a positive EBITDA. The decision to file for bankruptcy was not attributed to issues with its technology or core business; rather, it was driven by the company’s accumulating debt load, which eventually became unsustainable, as noted by Infillion.

Epic Games’ triumph in antitrust case against Google

Epic Games, the developer of the popular game Fortnite, filed a lawsuit against Google in August 2020 after Fortnite was removed from the Google Play Store for introducing its own in-app payment system, circumventing Google’s payment system that charges a 30% fee.

Epic Games secured victory in its noteworthy antitrust lawsuit against Google in December, challenging the purported monopoly maintained by the Play Store. The unanimous decision by the jury, reached after over a month of trial proceedings, holds the potential to bring about a pivotal shift in the broader app store ecosystem. 

This legal saga, spanning three years, dealt a blow to Google, the operator of one of the largest app stores globally. Despite the setback, Google has expressed its intention to appeal and remains steadfast in defending the Android business model.

2023 Saw 26 Mobile Apps Enter the Billion-Dollar Club

In the ever-evolving arena of the global mobile app economy, the year 2023 stood out with an impressive surge, witnessing over two dozen apps and games achieving the remarkable milestone of surpassing $1 billion in lifetime revenue, as reported by data.ai.

This accomplishment marks a slight increase from the previous year, 2022, when 23 apps reached this significant financial milestone. While it falls just shy of the record set in 2021 with 28 apps, these figures underscore the sustained growth and financial success of specific mobile apps.

Check out all the apps and games that reached $1 billion in lifetime revenue during 2023

Notable Acquisitions in AdTech

• Kochava acquires app marketing company Machine Advertising
• Criteo acquires omnichannel media platform Brandcrush
• Affle acquires mobile app marketing platform YouAppi
• Databricks acquires generative AI platform MosaicML for $1.3 billion
• DoubleVerify acquires Scibids for $125 million
• InMobi acquires consent management platform QuantCast Choice
• SplitMetrics acquires App Radar in a seven-figure deal
• AppsFlyer acquires gaming and apps data analytics firm devtodev
• AppsFlyer acquires AI-powered user acquisition and monetization platform oolo

Notable Funding Rounds in AdTech

• Adludio raises £2 million for its AI-powered mobile ad platform
• Anzu completes $48 million Series B
• Ad Fontes raises $4.2 million Series A
• Aditude raises $15 million Series A
• Picnic raises $1.25 million for its user-first ad marketplace
• AI-native user engagement platform Aampe raises $7.5 million
• Aptoide secures €8.5 million investment from Digital Turbine

Notable Acquisitions in Gaming

• Savvy Group completes $4.9 billion acquisition of Scopely
• Sega acquires Rovio for $776 million
• Playtika acquires the Youda Games portfolio from Azerion
• Sumo acquires mobile game developer Midoki
• Metacore acquires Piñata
• Keywords Studios acquires The Multiplayer Group for £76.5 million

As we stand on the threshold of 2024, we extend our heartfelt wishes for a year filled with prosperity, joy, and countless moments of inspiration. May your journey through the upcoming year be adorned with success, and may you find fulfillment in every endeavor. Stay connected with Mobile Marketing Reads to embark on a year of discovery, insights, and shared experiences. Here’s to a wonderful 2024, where we look forward to accompanying you on your journey through the latest news and stories. Happy New Year!