Ann: Mogul Deliver World Class Player Experience in Mobile Titles, page-86

Devs ultimately have to weigh up the cost value of adding tournament functionality as it would add more resources to build and implement internally but not potentially offer much reward (depending on the size of the game). It'll be a lot easier, cheaper, time convenient and risk adverse to partner with Mogul to build a private API for your game to run tournaments. Sure, most likely big studios will add this kind of tournament functionality into their flagship products (like COD) over time but small-mid size devs can actually release their game first up, see if it brings in the numbers and then grab Mogul to tap into tournament functionality freeing up their team to focus on other content etc.

As for Valve, they could certainly come to the table and build their own tournament software integrated within Steam but I don't personally see it happening for quite some time. As Steam became a default money printing press they generally seem to have taken slower steps in what they do and how they do it. I'd say they would be putting more resources going forward toward VR as they have sunk a lot of time and effort into that field already. Unless there are a lot of employees within Valve who want to work on tournament functionality it's most likely not something Mogul will need to worry about for quite a while.

Monetising the platform, it was mentioned in the latest company presentation that on-platform advertising, content and licensing were part of the mix. I think there should be some additional information in the big Q4 announcement to help determine potential additional revenue streams. We should feel pretty confident given the calibre of the board that they have a solid approach in mind regarding this though.