Harvard Case - Skillz: Esports and Skill-Based Mobile Gaming
"Skillz: Esports and Skill-Based Mobile Gaming" Harvard business case study is written by Andy Wu, David B. Yoffie, George Gonzalez. It deals with the challenges in the field of Strategy. The case study is 24 page(s) long and it was first published on : Aug 4, 2020
At Fern Fort University, we recommend Skillz pursue a multi-pronged growth strategy focused on strategic acquisitions, product diversification, and global expansion. This approach will leverage Skillz's core competencies in technology and analytics, disruptive innovation, and competitive advantage to capitalize on the rapidly growing esports and mobile gaming markets.
2. Background
Skillz is a mobile gaming platform that allows players to compete for cash prizes in skill-based games. Founded in 2012, Skillz has rapidly grown its user base and revenue, becoming a leader in the emerging market of esports and skill-based mobile gaming. The company faces a critical juncture, needing to navigate the competitive landscape and capitalize on its unique position.
The main protagonists are:
- Andrew Paradise: CEO and founder of Skillz, responsible for the company's vision and strategic direction.
- Chris Bieneman: Chief Product Officer, responsible for product development and innovation.
- Mike DeCicco: Chief Business Officer, responsible for partnerships and business development.
3. Analysis of the Case Study
Industry Analysis:
- Porter's Five Forces:
- Threat of new entrants: Moderate, due to the high barriers to entry in developing a robust platform and attracting a large user base.
- Bargaining power of buyers: Low, as players have limited alternatives for competing for cash prizes in skill-based games.
- Bargaining power of suppliers: Low, as Skillz works with a diverse range of game developers.
- Threat of substitutes: Moderate, from traditional esports platforms and other forms of mobile gaming.
- Competitive rivalry: High, with numerous competitors vying for market share in the rapidly growing esports and mobile gaming space.
SWOT Analysis:
Strengths:
- Disruptive innovation: Skillz's platform disrupts traditional esports by offering accessible, skill-based mobile gaming with cash prizes.
- Technology and analytics: Skillz leverages advanced technology and data analytics to optimize player experience and monetization.
- Strong brand recognition: Skillz has established a strong brand in the mobile gaming space.
- Strong partnerships: Skillz has forged strategic partnerships with major game developers and mobile operators.
Weaknesses:
- Limited game portfolio: Skillz's platform currently features a limited range of games, potentially limiting user engagement and growth.
- Regulatory uncertainty: The legal landscape surrounding skill-based gaming is still evolving, posing potential risks.
- Competition from established players: Skillz faces competition from larger, established gaming companies with significant resources.
Opportunities:
- Growing esports and mobile gaming market: The global esports and mobile gaming market is experiencing rapid growth, offering significant potential for Skillz.
- Expansion into new markets: Skillz can expand its reach into new international markets, leveraging its platform's global appeal.
- Product diversification: Skillz can diversify its product portfolio by adding new game genres and features, attracting a wider audience.
Threats:
- Increased competition: The esports and mobile gaming market is becoming increasingly competitive, with new players entering the space.
- Regulatory changes: Changes in regulations could negatively impact Skillz's business model.
- Economic downturn: An economic downturn could impact consumer spending on mobile gaming, affecting Skillz's revenue.
Competitive Advantage:
Skillz's competitive advantage lies in its unique platform, disruptive innovation, and strong technology and analytics capabilities. This allows the company to offer a differentiated experience for players, attract a large user base, and generate significant revenue.
Value Chain Analysis:
Skillz's value chain includes:
- Inbound logistics: Partnering with game developers and integrating their games onto the platform.
- Operations: Managing the platform, processing transactions, and ensuring fair play.
- Outbound logistics: Marketing and promoting the platform to players.
- Marketing and sales: Attracting new users and promoting existing games.
- Customer service: Providing support to players and resolving issues.
Business Model Innovation:
Skillz's business model is based on freemium gaming, where players can play for free, but have the option to pay for in-game items or to compete for cash prizes. This model has proven successful in attracting a large user base and generating significant revenue.
4. Recommendations
1. Strategic Acquisitions:
- Target companies: Identify and acquire promising game developers with strong existing games or innovative concepts. This will expand Skillz's game portfolio and attract new players.
- Integration strategy: Seamlessly integrate acquired companies and their games into the Skillz platform, leveraging existing technology and analytics capabilities.
- Financial resources: Secure funding through debt or equity financing to support acquisition strategy.
2. Product Diversification:
- Expand game genres: Develop or acquire games in new genres, such as strategy, puzzle, and trivia, to appeal to a wider audience.
- Introduce new features: Add new features to the platform, such as social elements, tournaments, and leaderboards, to enhance user engagement.
- Focus on mobile-first experience: Optimize games and platform for mobile devices, leveraging the growing popularity of mobile gaming.
3. Global Expansion:
- Target markets: Identify high-growth markets with a strong mobile gaming culture, such as Asia, Latin America, and Europe.
- Localization strategy: Adapt games and marketing materials to local languages and cultural preferences.
- Partnerships: Form strategic partnerships with local game developers, mobile operators, and marketing agencies to facilitate market entry.
5. Basis of Recommendations
These recommendations are based on:
- Core competencies: Leveraging Skillz's strengths in technology and analytics, disruptive innovation, and competitive advantage.
- External customers: Attracting new players and retaining existing users by offering a diverse and engaging gaming experience.
- Internal clients: Empowering game developers and partners with a robust platform and support system.
- Competitors: Staying ahead of the competition by continuously innovating and expanding into new markets.
- Attractiveness: The rapidly growing esports and mobile gaming market presents significant potential for growth and profitability.
Assumptions:
- The esports and mobile gaming market will continue to grow at a rapid pace.
- Skillz can successfully acquire and integrate new game developers.
- Skillz can adapt its platform and games to meet the needs of international markets.
6. Conclusion
Skillz is well-positioned to capitalize on the rapidly growing esports and mobile gaming market. By pursuing a multi-pronged growth strategy focused on strategic acquisitions, product diversification, and global expansion, Skillz can solidify its leadership position and achieve sustained growth.
7. Discussion
Alternatives:
- Organic growth: Focusing solely on developing new games and features internally. This approach is slower and less risky, but may not be sufficient to achieve rapid growth in a highly competitive market.
- Partnership-focused strategy: Focusing primarily on partnerships with existing game developers. This approach is less capital-intensive, but limits control over the game portfolio.
Risks:
- Integration challenges: Integrating acquired companies and their games into the Skillz platform can be complex and time-consuming.
- Regulatory risks: Changes in regulations could negatively impact Skillz's business model.
- Competition: Increased competition from established players could erode Skillz's market share.
Key Assumptions:
- The esports and mobile gaming market will continue to grow at a rapid pace.
- Skillz can successfully acquire and integrate new game developers.
- Skillz can adapt its platform and games to meet the needs of international markets.
8. Next Steps
Timeline:
- Year 1: Focus on strategic acquisitions and product diversification.
- Year 2: Begin global expansion into key target markets.
- Year 3: Continue to expand game portfolio and global presence.
Key Milestones:
- Q1 2024: Complete first acquisition of a game developer.
- Q2 2024: Launch new game genres and features on the platform.
- Q3 2024: Begin market entry into a key international market.
- Q4 2024: Secure additional funding to support continued growth.
By implementing these recommendations and milestones, Skillz can position itself for sustained growth and success in the rapidly evolving esports and mobile gaming landscape.
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Case Description
Founded in 2012, Skillz offered a platform for mobile app developers to monetize skill-based games via prized tournaments. Skillz had over 20,000 registered developers that had created thousands of Skillz-powered games played by over 30 million registered users (gamers). A successful gamer could make hundreds of thousands of dollars playing competitive games of skill. The company had a gross marketplace volume of almost $1 billion in 2019 and over 250 employees primarily in San Francisco, California and Portland, Oregon. CEO Andrew Paradise challenged his leadership team to explore options for accelerating growth.
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