Social Gaming Summit and Virtual Goods Summit

SAN FRANCISCO, CA - October 15, 2010

Mediabistro (a division of WebMediaBrands, Inc., Nasdaq: WEBM) and Charles Hudson wrapped up another successful Virtual Goods Summit, having presented a variety of topics discussing the changes, successes and challenges affecting the virtual goods world. The summit took place October 12 and 13 in San Francisco’s Moscone West, and featured a variety of leaders in the virtual goods and payments field, including Facebook, Zynga, Playspan, PayPal, and Tapjoy. For a full list of speakers, please see: http://www.mediabistro.com/virtualgoodssummit/speakers.asp

“The virtual goods business is on its way to becoming a $100 billion a year industry and we are pleased that our Virtual Goods Summit is the number one trade show for this rapidly growing industry,” stated Alan M. Meckler, Chairman and CEO of WebMediaBrands.

The theme of this year’s Virtual Goods Summit West centered around what works in virtual goods today and where the industry is headed in the future. In addition to discussing payment options and monetization strategy, panel discussions were also devoted to virtual goods markets around the world, including Asia and Europe, as discussed in Wednesday’s “Global Leaders” panel with Alan Chen, CEO of Perfect World Entertainment and Nils Holger Henning, Chief Communications Officer of Bigpoint GmbH.

"The Virtual Goods Summit 2010 brought together a lot of the leading practitioners in the virtual goods ecosystem to share their perspectives on what's working today and where the industry is heading. Much of the attention at this year's event focused on the impact that Facebook Credits will have for those developing games both on and off of Facebook,” stated organizer Charles Hudson. “In addition, we had key executives from some of the largest and most successful European and Asian free-to-play games companies sharing their perspectives on what's working in their respective markets. Going forward, expect there to be continued focus on social games, the development of virtual goods on mobile, and emergence of the smart application of gamification.”

Sponsors of this year’s summit included Tapjoy, Playspan, SuperRewards, Dealunited, Concept Art House, Flurry, myYearbook, Norwest Venture Partners, Trialpay and WildTangent.

The Summit kicked off on Tuesday, October 12, with an opening speech from Trip Hawkins of Digital Chocolate, who led the discussion on lessons that industry pioneers have learned in the space throughout the past several years.

On day two, Facebook announced their significant expansion of Facebook Credits to a greater number of developers, and the addition of more partners for increased payment options. Deborah Liu stressed that more partners means more ways to earn Facebook Credits. Additionally, Facebook’s partnership with Playspan was mentioned as resulting in increased localization of Facebook Credits, underlining the importance of international users to Facebook.

Additional topics discussed at this year’s Virtual Goods Summit West included best practices for brand integration in the games space and successful game mechanic integration into various industries and services.

The Expo Hall featured industry leaders including Atlas Interactive, DaoPay, hi5, kontagent, MobileF1rst, Oceanopolis, PayPal, PaymentOne, Pillsbury, RealGifts, RockYou, Sometrics, Zong Mobile Payments and 6Waves.

For more information about upcoming Virtual Goods Summits, please visit: http://www.mediabistro.com/events

Follow Virtual Goods Summit on Twitter: http://twitter.com/vgsummit

Be a Fan on Facebook: http://www.facebook.com/pages/Virtual-Goods-Summit/234057065290?ref=ts

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About WebMediaBrands Inc.

WebMediaBrands Inc. is an Internet media company that provides content, education, trade shows, and online job board services to media and business professionals. The company’s online business includes mediabistro.com, a leading blog network providing content, career, and educational resources about major media markets and industry verticals including new media, TV news, advertising, public relations, publishing, design, mobile, and the semantic web.

All current WebMediaBrands press releases can be found online at www.webmediabrands.com/corporate/press.html

Amanda Barrett, Director of Marketing, WebMediaBrands

212-547-7879

press@webmediabrands.com