Welcome To Fantasy Island - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Business/E-Business
Commentary
10/10/2008
10:12 AM
Jim Manico
Jim Manico
Commentary
Connect Directly
Twitter
LinkedIn
RSS
E-Mail
50%
50%

Welcome To Fantasy Island

With fewer dollars to spend in the real world, consumers have been hanging out in virtual worlds -- where their money goes farther, according to operators of such sites.

With fewer dollars to spend in the real world, consumers have been hanging out in virtual worlds -- where their money goes farther, according to operators of such sites.Take Habbo, a self-described hangout for teens that charges a small fee for access to specific site features. Visitors are spending twice the amount of time on Habbo than in days past, the site's EVP told Forbes.com. U.S. users, who account for 25% of Habbo's 10 million customer base, spend around $18 per month buying virtual items. You do the math.

Virtual world Gaiai Online, with 7 million members, and sci-fi multiplayer gaming site EVE Online, with 250,000 members, are predicting continued upticks in their number of visitors, as well. In EVE Online's case, members pay $14.95 per month minimum (depending on their membership level). You can easily spend more than that in a single afternoon at Dave & Buster's.

"As the 'real world' gets worse, virtual worlds get better," Gaia CEO Craig Sherman told Forbes.com. "As things get worse, people spend more time at movies or spend more time on a site like Gaia Online, which provides a relatively inexpensive respite from the offline world."

I'm not suggesting you go off and start your own virtual world -- though it doesn't hurt to know they received more than $345 million in venture financing in the first half of 2008, according to Virtual Worlds Management. And for its part, Second Life is more than hanging in there, though its transactions have declined.

I am, however, suggesting you place yourself -- your name, your products, your services -- in places where your buyers go, whether they're teens and twentysomethings, card-players who can better afford a few rounds of online poker than a jaunt to Vegas, or tech-buying businesses reading reviews online for the purchases they'll make when their cash resumes flowing.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of IT & Cybersecurity Operations 2020
The State of IT & Cybersecurity Operations 2020
Download this report from InformationWeek, in partnership with Dark Reading, to learn more about how today's IT operations teams work with cybersecurity operations, what technologies they are using, and how they communicate and share responsibility--or create risk by failing to do so. Get it now!
Slideshows
10 Cyberattacks on the Rise During the Pandemic
Cynthia Harvey, Freelance Journalist, InformationWeek,  6/24/2020
News
IT Trade Shows Go Virtual: Your 2020 List of Events
Jessica Davis, Senior Editor, Enterprise Apps,  5/29/2020
Commentary
Study: Cloud Migration Gaining Momentum
John Edwards, Technology Journalist & Author,  6/22/2020
Register for InformationWeek Newsletters
Video
Current Issue
Key to Cloud Success: The Right Management
This IT Trend highlights some of the steps IT teams can take to keep their cloud environments running in a safe, efficient manner.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll