Two additional thoughts I wanted to share so this doesn't sound like another gaming doom-and-gloom story:
1. On Zynga and new content: Zynga has become increasingly good at developing and launching new hits, which is incredibly difficult in today's mobile gaming market. Strauss himself shared “We have the highest hit ratio in the business – knock wood – because of our strategy.”
2. On the future of UA: None of this means UA is dead. Far from it. I think the pendulum between UA and content has simply swung heavily toward content in recent years. And I believe AI will help restore that balance over the coming years, creating new opportunities for marketers.
Format D creates incredibly clever, thought-provoking illustrations, all hand-drawn on his phone.
The kind of visual storytelling you’d expect from The New Yorker. Simple at first glance, yet layered with meaning, humor, and social commentary.
In an age of AI-generated imagery, it’s refreshing to see art that doesn’t look like slop but actually makes you stop and think.
https://t.co/MskDIrZRyx
Not sure I fully get the analogy.
Me personally - I saw some of MJ's post-baseball comeback numbers. Decent but not prime MJ. Advertisers had doubts; some publicly complained about inefficient spending last quarter. Doubts led to suspicion.
I do not think this is worth dwelling on further though. You did great, and that’s all that matters now. I’ve said for years that Applovin shows what operational excellence can do, and this quarter is another proof. The market might shrink and advertisers might leave, but you’ll make sure every base is covered 100% of time and that’s what matters for long-term investors.