Australian media and software company Esports Mogul (ASX: ESH) has published an interim update regarding the growing momentum of its user base following the release of its user feature Mogul Spotlight.
The company said it has experienced “continued acceleration” of user acquisition after adding more than 500,000 new users across all Mogul service offerings over the past 11 days.
The interim user growth reported today means that the total number of registered users using Esports Mogul’s services now stands at an all-time high of over 1.5 million.
Mogul Spotlight will serve as what’s known as a “stream viewer”, purposefully designed for users interested in watching streamers and influencers playing a wide variety of popular games.
This feature is aimed at courting the growing trend of viewers watching gamers play, without necessarily being gamers themselves.
As part of Spotlight, users can not only watch gaming streams directly on Mogul, but they will be prompted to enter raffles and other ad-hoc competitions.
As the viewer threshold grows, the prizing will increase to various tiers, initially consisting of increasing values of Razer Silver reward credits supplied by Mogul’s strategic partner Razer.
Boosting user acquisition
One of the overarching features designed to knit together its entire suite of services as well as boosting user numbers even further, Esports Mogul recently launched its proprietary Wallet that integrates a range of e-payment methods.
The Mogul Wallet is expected to serve as the “financial hub” of the platform, where users can easily deposit and withdraw funds to be used in a variety of ways.
It will also serve as the rewards portal where users can access all winnings and virtual rewards from tournaments, Esports Elite and Refer-a-Friend.
Currently, popular streams by professionals and influencers are integrated on the platform, however, Esports Mogul has stated that there exists the opportunity for third-party streams to also be hosted on Mogul Spotlight.
This could potentially create a range of additional partnerships and marketing opportunities with Esports Mogul confirming that the company is currently sourcing streamers and influencers to promote its new feature.
In a statement to the market, Esports Mogul said it is confident that the release of Mogul Spotlight will boost user acquisition and associated activity even further.
According to market research conducted by Newzoo, there are currently 165 million eSports enthusiasts worldwide, with an additional 215 million “occasional viewers” who Esports Mogul is planning to target by offering a range of prizes via its online platform.
The eSports enthusiast market remains largely untapped and Esports Mogul intends to be one of the first Australian-based companies to capitalise on this emergent niche.
To further encourage participation, Mogul Spotlight will support its recently-launched Refer-a-Friend feature whereby users are able to share their unique referral URL and in turn, incentivises additional user-base growth.
“Similar to our Esports Elite feature which had great success, Mogul Spotlight allows us to satisfy a range of esports participants. The market for those who enjoy watching esports, and not necessarily playing, is so large and the way Esports Mogul can continue to develop features to satisfy these markets is how we stay at the forefront of the industry,” said Gernot Abl, managing director of Esports Mogul.