Virtual Goods Sales Hit $1 Billion in 2009

According to an “Inside Virtual Goods Report”, virtual goods sales in social and other online games hit the $1 billion mark in 2009, doubling from 2008.

Justin Smith, co-author of the report states:

“I don’t know anyone who expected it to grow this fast. The Facebook platform went from zero to hundreds of millions of dollars in two and a half years. It reflects a broader shift in society where people are spending more time on casual games.”

Sales of virtual goods could hit $1.6 billion in 2010 as Facebook social and free to play games monetized with these microtransactions continue continue to skyrocket in popularity.

http://games.venturebeat.com/2009/10/14/virtual-goods-sales-to-hit-1-billion-in-2009-as-social-games-pay-off-big/

http://www.insidevirtualgoods.com/us-virtual-goods/