Out-of-app platforms such as direct-to-consumer web stores now account for 26% of mobile gaming revenue in East Asia and Southeast Asia combined, reshaping distribution and monetization strategiesBy 2028, out-of-app monetization revenue may make up a third of the mobile gaming ecosystem in Southeast Asia , Japan , and South Korea .In Southeast Asia alone, out-of-app monetization accounted for 38% of mobile gaming revenue in 2024, up from 21% in just two yearsSINGAPORE, March 18, 2025 /PRNewswire/ -- Coda, a leader in digital content monetization, and Niko Partners, the leading market research firm specializing in gaming markets across Asia have co-published their latest white paper, "Gaming Growth Unlocked: Insights on Distribution, Payments, and Regulations in Asia". The report highlights how regulatory changes, third-party platforms, and local payment methods are reshaping Southeast Asia, Japan, and South Korea's USD $23.2 billion mobile gaming market, which is home to 357 million gamers.Key insights: What mobile games publishers need to knowThe white paper reveals how out-of-app distribution and alternative app stores are reshaping Asia's gaming market, driving game discovery and monetization. These channels play a critical role in helping publishers reach new audiences and innovate beyond traditional app stores. Key findings include:Out-of-app monetization in Asia is acceleratingTransacting outside of primary app stores is now commonplace. Out-of-app platforms and alternative app stores now contribute approximately USD 6 billion—26%—of the mobile gaming revenue in East Asia and Southeast Asia combined. By 2028, out-of-app monetization may account for as much as one-third of the mobile gaming ecosystem in Southeast Asia, Japan, and South Korea if the current growth rate continues.Regulatory changes are opening new doorsRecent regulatory shifts like South Korea's "Anti-Google Law" and Japan's Fair-Trade rulings are opening up the 'walled gardens', encouraging publishers to adopt alternative platforms and payment methods

dLocal, the leading payment platform connecting global merchants to emerging markets, has announced a strategic partnership with Coda, a leader in digital content monetization. This partnership strengthens Coda’s ability to deliver innovative payment solutions by expanding access to trusted local payment methods, unlocking new monetization opportunities for gaming publishers worldwide, with a strong presence in Latin America.As gaming and digital commerce surge in emerging markets, seamless payments are crucial for growth. According to Grand View Research, Latin America’s gaming market is projected to reach $16.1 billion by 2030, while in Africa, the gaming industry generated $1.8 billion in revenue in 2024, with mobile gaming accounting for 90% of this total. Addressing this demand, the alliance empowers users with trusted local payment methods like Pix—expected to surpass credit cards for e-commerce in Brazil by 2025—fueling digital economy expansion and new merchant opportunities.As part of this partnership, Coda is strengthening its payment solutions by leveraging dLocal’s robust payment network in over 11 emerging markets. The collaboration facilitates access to a diverse range of local and alternative payment methods (APMs), including Pix in Brazil, alongside card payments, e-wallets, and bank transfers in Argentina, Bolivia, Chile, Colombia, Mexico, Morocco, Nigeria, Peru, South Africa, and Uruguay.This partnership also lays the groundwork for future innovation in gaming monetization, with plans to streamline transactions and improve payment experiences in countries like Brazil. By boosting conversion rates and simplifying the checkout process, these advancements will empower Coda’s publishers to optimize revenue while delivering gamers a faster, more seamless experience.“Coda helps gaming publishers monetize their content and maximize growth globally,” said Mukul Chawla, Managing Director – Global Head of Partnerships at Coda.“Our partnership with dLocal significantly strengthens our payment capabilities in emerging markets with strong presence in Latin America, allowing us to offer competitive rates, enhance our Pix offering, and drive better conversion rates

In its latest funding round in April 2022, Coda Payments raised US$690 million in a growth equity VC round, with participation from investors such as Singapore's sovereign wealth fund GIC, VC firm Insight Partners, and New York-based global private equity firm Smash Capital.