2025年，混合休闲（Hybridcasual）赛道持续升温——它将超休闲游戏的核心循环与休闲游戏的深层系统、变现手段相结合，形成了一条日益成熟的增长 路径。 AppMagic近期就发布了《2025年Q3混合休闲游戏Top 10》——从收入榜中过滤出「超休闲」标签的高收入游戏，更清晰地捕捉到那些通过IAP实现营收、 真正跨入混合领域的产品。 混合休闲市场的IAP收入已超过下载量 一、市场概况 在Q2时，Top 10的混合休闲游戏收入同比2024年就已翻倍，而到了Q3，这一势头进一步增强，季度同比增长高达114%。值得注意的是，这一增长依旧主 要来自老面孔——头部产品继续保持稳定扩张，新入榜的作品反而比上季度更少。 Q3前十收入同比增长+114% 事实再次证明：混合变现模型具有稳定性与可扩展性。通过在「易上手的玩法」与「深度留存机制」之间取得平衡，这类游戏在节奏快速、潮流瞬息的手 游市场中依然能保持较长生命周期。 如果进一步拆分收入结构，可以看到益智类的份额继续扩大——从第二季度的50%上升至超过60%；街机类略有下滑，从35%降至32%。 而最大变化来自模拟类，它超越动作类成为第三大子类型，占总收入约2.3% ...

Core Insights - Good Job Games, a Turkish mobile game developer, has successfully transitioned from hyper-casual games to traditional casual puzzle games, marking a significant strategic shift in response to market challenges [1][4][20] - The company raised $23 million in seed funding to support its ambitions of becoming a legacy entertainment company, focusing on high-quality casual games [1][4] - The success of their game "Zen Match," which was sold for approximately $100-150 million, provided the financial backing necessary for further development in the casual gaming sector [2][4] Group 1: Company Transition and Strategy - Good Job Games was founded in 2017 and achieved over 3 billion downloads in the hyper-casual space within two years, but faced significant challenges as the market began to shrink [1][4] - The introduction of IDFA policies led to increased Cost Per Install (CPI) and decreased Cost Per Mille (CPM), forcing many hyper-casual developers to pivot towards hybrid casual games [2][20] - Good Job's strategic shift included selling its hyper-casual assets to AI Games FZ and focusing on traditional casual games, which has allowed for increased investment in product quality and talent [4][20] Group 2: Product Performance and Market Position - Good Job's current flagship product, "Match Villains," is a match-3 casual game that has generated approximately $2.6 million in revenue and 840,000 downloads since its U.S. launch in November 2024 [12][14] - Despite its initial strong retention rates, "Match Villains" has shown weaknesses in long-term retention and monetization compared to competitors like "Royal Match" and "Royal Kingdom" [14][16] - The game lacks certain industry-standard monetization features, which has limited its revenue potential, highlighting the challenges of replicating success in the traditional casual market [18][20] Group 3: Industry Implications and Future Outlook - Good Job's transition offers a potential pathway for other hyper-casual developers looking to evolve into more complex casual gaming companies, although challenges remain [20][23] - The contrasting strategies of companies like Voodoo, which have fully embraced hybrid casual games, suggest that there may not be a one-size-fits-all approach to transitioning from hyper-casual to traditional casual gaming [20][23] - The ongoing development and performance of "Match Villains" will be critical in determining whether Good Job can establish itself as a significant player in the casual gaming market [20][23]

Core Insights - The wave of hybrid casual games has swept the industry, with major players raising competitive barriers, making it challenging for latecomers to enter the market [1][29] - Tapnation, a French publisher, has maintained a growth rate of approximately 15% to 20% annually, increasing its revenue from $1 million to $50 million (approximately 360 million RMB) over five years [1][2] - The company has successfully transitioned from hyper-casual to hybrid casual games, acquiring significant game assets to diversify its revenue streams [2][30] Group 1 - Tapnation's revenue structure has shifted significantly with the acquisition of games like "Hero Making Tycoon" and "Hero Adventure," which have a 70% in-app purchase (IAP) revenue share compared to the previous 95% reliance on ad revenue [2][30] - The company has achieved profitability since its first year and has maintained profitability for five consecutive years, currently employing around 80 people [1][2] - The flagship game "Thief Puzzle" has accumulated nearly 300 million downloads, showcasing strong sustainability in revenue and user engagement [27] Group 2 - Tapnation's strategy includes acquiring existing profitable games rather than developing new prototypes, allowing for immediate optimization of user acquisition (UA) strategies and revenue generation [26][30] - The company has faced challenges due to market changes post-pandemic, including reduced advertising spending and increased competition for user acquisition [29][30] - Tapnation is actively exploring emerging markets, particularly in Vietnam and Pakistan, to find potential game assets and establish relationships with local developers [33][34] Group 3 - The company has a unique structure with a small core team in Paris and members distributed globally, enabling efficient evaluation and due diligence for potential acquisitions [33] - Tapnation's focus on hybrid casual games is seen as a strategic move to enhance its valuation and appeal to investors, as these games typically have higher user retention and IAP revenue [29][30] - The company is optimistic about growth and profitability in 2025, projecting annual revenue to reach between $55 million and $60 million [2][30]

Core Insights - The global hybrid casual gaming market is experiencing significant growth, with the top ten hybrid casual games generating over 600 million yuan (approximately 87 million USD) in IAP revenue, marking a 67% year-on-year increase [1] Group 1: Market Trends - The trend towards hybrid casual and hyper-casual gameplay has led AppMagic to shift its quarterly report focus from casual games to hybrid casual games [1] - Puzzle games contributed 48% of the revenue in the top ten games, while arcade games accounted for 45%, indicating a shift in market dominance from arcade to puzzle genres [3] Group 2: Game Performance - The screw puzzle genre has seen significant growth since the launch of "Nuts and Bolts Sort" by Goodroid in September 2023, with at least 35 screw games surpassing one million downloads this year [5] - "Screw Jam" and "Screwdom" are leading titles in the screw puzzle category, with "Screw Jam" achieving over 50 million yuan in monthly revenue by August 2024, while "Screwdom" generated over 90 million yuan in IAP revenue within three months of its soft launch [8][10] Group 3: Game Mechanics and Monetization - "Screwdom" incorporates extended gameplay mechanics, requiring players to spend 7-15 minutes on a single level, which increases the likelihood of ad views and in-app purchases [14] - The game features a healthy revenue structure with an estimated IAP to IAA ratio of 6:4, indicating effective monetization strategies [14] Group 4: Developer Insights - "Screwdom" was developed by iKame Games, a Vietnamese team that has successfully transitioned from IAA to IAP monetization, with previous titles achieving significant revenue milestones [17] - The rise of Vietnamese developers is notable, with five companies entering the global mobile game publisher download rankings in 2024, reflecting an increase in the overall quality and creativity of game development in the region [19] Group 5: Emerging Titles - Other screw puzzle games like "Screw Sort Puzzle" and "Screw Tap Jam" have also shown promising IAP performance, with recent revenues of 12 million yuan and 9 million yuan respectively [21] - The screw puzzle genre has diversified, with new titles incorporating various themes and gameplay mechanics, indicating a trend towards creative iteration in game design [30]