"Roblox announced a new short-form video content application and an earnings increase for creators at its developers conference on Friday, looking to ride the wave of strong engagement and lure new users to the videogame platform. The TikTok-style app, called "Roblox Moments," is currently available in beta and will enable users to capture, edit and share cuts of gameplay on a common platform for players. The app could allow the company to bring the billions of views Roblox content receives on websites such as YouTube to its own platform and further boost engagement. In the quarter ended June 30, Roblox had 111.8 million average daily active users."
"Roblox's business model revolves around the purchase of in-game currency (Robux) from users playing and making games, allowing the company to stay ahead of the content treadmill and retain players with regular content updates. For the past few years, Roblox has been making a push to turn the gaming platform into a hub for e-commerce, socializing and advertising to grow revenue streams in a highly competitive industry. Earlier this year, the company announced a new ad format and a partnership with Google to grow its nascent ad business, and also allow creators to boost their earnings."
Roblox launched Roblox Moments, a TikTok-style short-form video app in beta that lets users capture, edit and share gameplay clips on a shared platform. The app aims to internalize billions of views currently hosted on external sites and increase user engagement; Roblox reported 111.8 million average daily active users for the quarter ended June 30. Roblox is pushing into e-commerce, social interaction and advertising, added a new ad format and partnered with Google to grow ad revenue and support creators. CEO David Baszucki announced an 8.5% increase in creator conversion payouts; creators earned over $1 billion in the past 12 months.
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