TUSTIN, Calif., April 23, 2014 (GLOBE NEWSWIRE) -- Freeze Tag (OTC:FRZT), a leading creator of mobile social games, today announced it has achieved encouraging beta test results of its newest free-to-play title called Party Animals®: Dance Battle.
"The early results of our latest tests have surpassed our expectations," said Craig Holland, CEO of Freeze Tag. "Compared to our initial market test version, we've been able to move the needle in all of the important metrics in free-to-play games, including the vital areas of retention and monetization."
After analyzing the results of the first market test, the Freeze Tag development team was able to make several design changes which have resulted in positive reactions from people downloading and playing the second test version of the game in the United States. Retention rate is the percentage of players coming back to use a mobile application after downloading it. Freeze Tag announced that the Day 1 retention rate has increased 62% and the Day 7 retention rate has increased over 350% from the previous version. In the area of monetization, more players are spending money through in app purchases in the test version of the game that is currently live in the U.S. The average revenue per daily active user has shown dramatic improvement, with an increase of over 996% from the first test version of the game.
Mr. Holland concluded, "Based on these very encouraging beta test results, we will make a few more design changes and then update the game in the App Store and move to the next round of testing. During this next round, we will begin to advertise on various platforms to acquire a larger number of users, and identify additional areas of the game that need improvement."
About Freeze Tag, Inc.
Freeze Tag, Inc. is a leading creator of mobile social games that are fun and engaging for all ages. Based on a free-to-play business model that has propelled games like Candy Crush Saga to worldwide success, we employ state-of-the-art data analytics and proprietary technology to dynamically optimize the gaming experience for revenue generation. Players can download and enjoy our games for free, or they can purchase virtual items and additional features within the game to increase the fun factor. Our games encourage players to compete and engage with their friends on major social networks such as Facebook and Twitter. Founded by gaming industry veterans, Freeze Tag has launched several successful mobile games including the number one hit series Victorian Mysteries® and Unsolved Mystery Club®, as well as digital entertainment like Etch A Sketch®. Freeze Tag games have been downloaded millions of times on the Apple, Amazon and Google app stores.
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Freeze Tag, Inc. cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. Freeze Tag, Inc. undertakes no obligation to revise these statements following the date of this news release.
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