Connect with top gaming leaders in Los Angeles at GamesBeat Summit 2023 this May 22-23. Register here.
Gaming startup PlayJam has raised a new $5 million round of funding to bring games to smart TVs and set-top boxes, the company announced Tuesday.
PlayJam is known for producing games on internet-connected TV platforms from Samsung, LG, Sony and Panasonic. The company says it’s seen over 6 billion game downloads on those platforms alone.
However, with the increase in devices that give televisions web connectivity — like Blu-ray players, game consoles and set-top boxes — PlayJam has the opportunity to start producing games that are independent of any one distribution platform, especially now that it has money in the bank.
The Smart TV gaming market is just getting started, but PlayJam is poised to become the market leader. The company said half of customers that download and play free games eventually buy a premium game. Also, its consumers spend an average of 23 minutes per session. (I’m guessing that session is the time it takes someone to start and then stop playing a game without any pauses or breaks.)
GamesBeat Summit 2023
Join the GamesBeat community in Los Angeles this May 22-23. You’ll hear from the brightest minds within the gaming industry to share their updates on the latest developments.
The new round, PlayJam’s first, includes participation by GameStop Digital Ventures, Adobe Ventures, Endeavour Ventures, London Venture Partners and others. Founded in 1999, the London-based startup has over 550 games in its library to date.
GamesBeat's creed when covering the game industry is "where passion meets business." What does this mean? We want to tell you how the news matters to you -- not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. Discover our Briefings.