AUSTIN, Texas and SEOUL, South Korea - In a move to enhance the mobile app market in South Korea, Digital Turbine (NASDAQ: NASDAQ:APPS) has announced a strategic partnership with ONE Store, Korea's second-largest app marketplace. The partnership, effective immediately, leverages Digital Turbine's SingleTap® technology across over 40 million ONE Store-enabled devices in South Korea, with plans to extend into additional global markets shortly.
Digital Turbine's $10M investment in ONE Store aims to optimize the app installation process and improve conversion rates for app developers. The collaboration is set to provide ONE Store users with a seamless app installation experience directly from advertisements, enhancing user engagement.
ONE Store, recognized as a significant alternative app store worldwide, offers a broad spectrum of digital content, including games, apps, and multimedia. This partnership is expected to complement Digital Turbine's suite of app distribution and monetization solutions, presenting a comprehensive growth platform for app developers beyond the dominant app stores.
The initiative begins in South Korea, which ranks fourth globally in consumer in-app spending, reflecting the market's potential for substantial growth. Both companies are actively exploring opportunities to replicate this model in other key markets, with the European Union being a notable target in light of the upcoming Digital Markets Act.
Bill Stone, CEO of Digital Turbine, expressed enthusiasm about the partnership, highlighting the opportunity to introduce their technology to a vast user base and numerous app developers in Korea. He also indicated a forward-looking approach to expanding the partnership into other global regions.
Peter Chun, CEO of ONE Store, acknowledged the partnership as a significant step for the company to transition from Korea's leading app market to a global contender.
This strategic partnership is poised to reshape the mobile app experience in South Korea and potentially beyond, offering app developers and mobile operators new avenues for growth. The information is based on a press release statement.
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