Share Prices of Game Developers Soar As Judge Rules against Apple
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As per the latest reports, the stock prices for gaming applications have experienced a rise. The data shows that the companies have experienced a rise in their prices following a ruling passed in their favor versus the tech giant, Apple.
The gaming companies have experienced a rise after the federal judge passed a ruling against Apple. According to the judge, the developers of games cannot be forced by Apple to add in-app purchases for the users. For a very long time, the in-app purchase aspect has been around in smartphone application gaming. However, the federal judge seems to have solved the problem for now and supports the game developers.
The reports reveal that the share prices for companies such as Zynga and AppLovin have experienced a significant rise. The announcement confirming the ruling in favor of the game developers has been made on Friday, September 10, 2021.
The judge reportedly presiding over the case was Yvonne Gonzalez Rogers, the US District Judge from Oakland, California. The judge reportedly issued an injunction, in which the judge stated that Apple is prohibited from demanding developers to add in-app purchases.
Furthermore, Apple had also prohibited developers from adding any links to their applications that would drive users away from the Apple Store. By imposing such conditions, Apple had managed to take around 15% to 30% of the gross sales from the developers.
The company that filed the case against Facebook was the CEO of Epic Games, which developed Fortnite, one of the most popular games in the gaming sector.
With the latest ruling in favor of developers, they will be able to offer content to users without any extra costs.
Furthermore, the developers would also be able to add in-app links that would drive users away from the App Store and avail content or services at a lesser rate than App Store.
The decision made by the judge is definitely going to help the gaming firms generate a tremendous amount of revenues and profits. Prior to the ruling of the judge, Apple was taking a significant percentage out of the revenues and profits made by the developers.
The CEO of Recurly, Dan Burkhart also remarked on the decision made by the judge and ruling the decision in favor of the game developers. Recurly is a prominent platform that is adopted by app developers that is used in the process of subscriptions.
Since the decision made by the judge, the share prices for AppLovin have grown over 10%. The share prices for Zynga have experienced an almost 8% increase. Then there is Playtika that has experienced a 6% rise, followed by Roblox, which has experienced an almost 3% increase in their share prices.
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