Twenty years ago, mobile gaming meant playing Snake on a Nokia phone. Today, smartphones rival most hand-held consoles and, in some cases, can even play games designed for high-performance consoles.
Smartphone gaming capability continues to rise, but free games are the most popular. Puzzles to solve or lands to conquer, these come in many forms. The catch is putting up with advertisements every five minutes or 30 minutes.
But Wilfrid Obeng, a former Google employee, says he has figured out a better way to enjoy free games with less intrusive adverts. After a conversation with a fellow entrepreneur while on holiday in Dubai, Obeng decided to start a company offering audio adverts.
Audiomob, formed in 2020, set up in London before expanding to Abu Dhabi and New York. These days, most employees prefer the company’s Abu Dhabi office, with some staff in London wanting to move over. “The sun and low tax can definitely attract engineers over – and also how safe it is as well,” Obeng says.
Today, Audiomob operates as part of AD Gaming, fostering collaboration between the two. Thanks to AD Gaming's extensive portfolio of game developers, Audiomob is hoping to partner with more gaming companies.
Mobile gaming continues to grow. With so many smartphone users across the world, mobile games have become profitable. According to a study published by Udonis, of the $184 billion generated in 2023 by gaming, the mobile gaming market share was $90 billion.
A recent study published earlier this year by Earthweb estimated that there would be about three billion mobile gamers around the world by the summer of 2024
Obeng believes audio advertisements will encourage players to keep playing, without being deterred by long video adverts. His company has also experimented with a reward system, whereby players earn in-game coins or gems in exchange for listening to audio ads.
Retaining player attention is crucial for mobile game developers, and Obeng says his company's research shows audio ads help keep players engaged, leading to longer playtime and allowing developers to monetise their users.
He explains: “They're not churning through these users and having to do more user acquisition to get more users in.”
Obeng says the technology is branching out into other forms of gaming. “Virtual reality games are super interesting because on VR it's very difficult to just throw a video ad on, but having a geotargeted audio ad makes a lot of sense.”
As for console gaming, Obeng says it is something his team are looking into. He uses the example of EA Sports FC, saying that it would be easy to blend audio advertising into the football game's commentary.
Not satisfied using his company's technology for gaming only, Obeng is also aiming to use it in television and – even cars. His company is already using the technology in music and podcast apps, with targeted audio advertisements that differ from one place to another.
Obeng says his company is looking to become a one-stop shop for advertisers and developers, creating ads that are integrated into mobile games or other types of entertainment. His firm is also experimenting with AI to translate adverts into different languages.
Audio adverts are a staple in commercial radio, and Audiomob has received requests to make jingles for some clients in that sector. “In Iraq and a place like Lebanon, jingles are very popular. So, we usually do jingles in those countries and we have a partnership with Choueiri Group to represent us in the Mena region,” Obeng adds.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Healthy tips to remember
Here, Dr Mohamed El Abiary, paediatric consultant at Al Zahra Hospital Dubai, shares some advice for parents whose children are fasting during the holy month of Ramadan:
Gradual fasting and golden points - For children under the age of 10, follow a step-by-step approach to fasting and don't push them beyond their limits. Start with a few hours fasting a day and increase it to a half fast and full fast when the child is ready. Every individual's ability varies as per the age and personal readiness. You could introduce a points system that awards the child and offers them encouragement when they make progress with the amount of hours they fast
Why fast? - Explain to your child why they are fasting. By shedding light on the importance of abstaining from food and drink, children may feel more encouraged to give it there all during the observance period. It is also a good opportunity to teach children about controlling urges, doing good for others and instilling healthy food habits
Sleep and suhoor - A child needs adequate sleep every night - at least eight hours. Make sure to set a routine early bedtime so he/she has sufficient time to wake up for suhoor, which is an essential meal at the beginning of the day
Good diet - Nutritious food is crucial to ensuring a healthy Ramadan for children. They must refrain from eating too much junk food as well as canned goods and snacks and drinks high in sugar. Foods that are rich in nutrients, vitamins and proteins, like fruits, fresh meats and vegetables, make for a good balanced diet
More coverage from the Future Forum
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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