Mobile games. Depending on who you talk to it's either a sector that's searching for its next big growth spurt or the only segment of the mobile content industry with an established, proven business model that makes money.
Either way, its fortunes are tied intrinsicly to licensing. Sometimes for the better, sometimes for the worse.
Probably the best cautionary tale comes from the earliest days of the industry and concerns a mobile games publisher called Riot Entertainment. The story of how the Finnish outfit raised and then burned through 20 million euros in less than two years is part of mobile content folklore.
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