'Gotta Catch 'Em All,' The Newest Slogan in Advertising, CNBC's Boorstin Reports
NEW YORK (TheStreet) --"PokemonGo" is now the biggest mobile game in U.S. history, with 21 million daily active users. Moreover, "PokemonGo" daily active users are on track to surpass Snapchat on Android devices in the next few days according to SurveyMonkey, CNBC's Julia Boorstin reported this afternoon.
Though the game is free to download, it does offer in-app purchases for various power-ups and virtual goods, which have totaled $1.6 million daily.
However, another revenue stream is set be unveiled. "The app will soon offer sponsored locations. The CEO of the developer Niantic told the Financial Times," Julia Boorstin reported on "Closing Bell" this afternoon.
A business will be able to pay for placement in the game with tie-ins between the virtual and real world, and some businesses have already started such promotions.
"The owner of a Long Island, NY pizza shop said he spent $110 to create a virtual lure in his restaurant bringing in a rush of Pokemon players, which he said boosted his business 75%," Boorstin noted.
Niantic and Nintendo (NTDY) will share the revenue from this advertising stream along with Google (GOOGL) and Apple (AAPL) who take a 30% cut from their stores.