Nintendo shares soar after Pokemon Go becomes top earning app

In-app purchases are raking in money for the gaming giant

Nintendo shares soar after Pokemon Go becomes top earning app

Nintendo's Shigeru Miyamoto | Photo: PA Images

Nintendo is already feeling the success of Pokemon Go as its share prices have risen 9% in the past 24 hours.

Only launched in three countries, the mobile game quickly topped the charts in the US, Australia, and New Zealand.

More surprising than the free game shooting up the charts is how much money it's already grossing. There are in-app purchases available in the game that give the player power-ups and extra items.

The app has brought the value of the company up to $23 billion. It's also expected that Nintendo's annual profit will also rise by about one third.

People are clearly spending in the game as it's also topping the highest grossing charts, which is based on how much people spend both for the game itself and also how much is spent in the game.

The popularity of the game has also been crashing Nintendo's servers, making it hard for new players to log in and join.

Mobile popularity

The success of the game isn't really surprising, as fans have been calling out for proper Nintendo games on mobile platforms since app stores existed. The Japanese game maker is now working on four more mobile games to be released before March next year.

This isn't Nintendo's first attempt at a mobile game. Miitomo was released earlier this year to a very lukewarm audience. A lot of fans feared the direction Nintendo was taking with mobile after that, but Pokemon Go seems to have solved that.

A huge wealth of successful franchises has always been Nintendo's backbone. Fans will flock to wherever Mario, Zelda, and Pokemon are. Getting serious and committing them to the mobile gaming realm will only spell success for Nintendo.