VGS 09: Asian Virtual Goods Worth $7 Billion in 2009

The Asian virtual goods market is estimated at $5 billion in 2008, and could reach $7 billion in 2009, according to Benjamin Joffe, CEO of +8* (Plus Eight Star), a consultancy firm dealing with bringing Asian online market concepts to Western companies.

Joffe explained his estimate during a presentation at San Francisco's Virtual Goods Summit 2009, highlighting the state of the market in Korea, China, and Japan. Says Joffe, "This is an estimate I came up with a few months ago... Some calculations with online gaming and social networks, I said about $5 billion."

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