Using Creative Design to Monetize Virtual Worlds (Three 20-minute lectures)

Speakers: Erik Bethke, Matt Mihaly, Sulka Haro

Track: Business and Management

Format: Lecture

Experience Level: Intermediate

Description: As virtual world business models beyond the simple subscription rise in popularity with users, it is incumbent upon developers to find ways to marry design to the needs of the bottom-line. Doing so can be a challenge, as what's palatable to one audience is not to another, and nobody wants to leave money on the table. Even worse, getting it wrong can be difficult to recover from, as a virtual world's audience has self-selected for tolerance of the existing model, and may be unwilling to participate under a new model. Attendees learn how different developers have tackled this problem through the integration of their business model with creative design, from selling high-priced virtual weapons to a boutique audience, to accepting micro-transactions for use by a teen audience.

Idea Takeaway: Attendees learn about the challenges in marrying design to a business model and the creative solutions that a range of developers have employed to monetize their virtual worlds, illustrated with real-world examples.

Intended Audience: This panel is intended for anyone interested in the evolution of the virtual world business model beyond one-size-fits-all subscriptions. General knowledge of virtual worlds and the economics of operating them is useful, but not required.