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News on Medial
Indian gaming likely to hit $7.5 billion, create 250,000 jobs by 2025: Meta executive
Economic Times
·
1y ago
Medial
According to Facebook's Meta, the Indian gaming sector is expected to reach a value of nearly $7.5 billion and create 250,000 jobs by 2025. Meta's vice president for India, Sandhya Devanathan, highlighted the significant role gaming will play in India's digital economy, which is predicted to contribute a trillion dollars to the country's goal of becoming an $8 trillion economy. The report released by Meta also revealed that India has approximately 146 million real money gaming (RMG) players and 202 million non-RMG casual gamers, with a large percentage residing outside major cities.
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India’s Gaming Space May Touch $7.5 Bn By 2025: Meta India MD
Inc42
·
1y ago
Medial
Facebook Meta is eyeing the gaming market in India, predicting it to be worth $7.5bn and generate 250,000 jobs by 2025. Speaking at the Meta Gaming Summit in Mumbai, India MD Sandhya Devanathan highlighted the significant role gaming will play in India's digital economy. The event also saw the launch of the 'Gaming Playbook', a report on the Indian gaming ecosystem. The report revealed that India has around 146 million real money gaming players and approximately 202 million casual gamers, with a majority residing outside major cities. Gaming is a top three vertical for Meta globally.
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Former Momspresso Founders’ Startup Pravis Picks Up Stake In StreamO
Inc42
·
1y ago
Medial
Growth marketing firm Pravis has acquired an undisclosed stake in adtech gaming platform StreamO. StreamO connects brands with gamers and their live viewers and already has over 20,000 gamers on its platform, with a GenZ subscriber base of over 300 million. Pravis aims to target India's growing gaming market, particularly the GenZ demographic. The Indian gaming ecosystem is experiencing significant growth, with 6 out of 10 smartphone users in India being gamers, and more are willing to pay for gaming entertainment. The Indian gaming market is projected to reach a valuation of $7.5 billion by 2025.
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India's Gaming Industry Tops Bollywood, Cricket in Revenue: Lumikai's Salone Sehgal
OutlookIndia
·
2m ago
Medial
India's gaming industry has reached $3.8 billion in revenue, surpassing both Bollywood and cricket. It is one of the fastest-growing sectors, with a compound annual growth rate of 20% and is projected to hit $9.2 billion by FY29. Gaming in India has transformed from a pastime to an industry creating jobs, esports, and professional athletes. The country is now the second-largest mobile gaming market globally, with significant data consumption by users.
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Indian gaming market revenue may double to $6 billion by 2028: report
Economic Times
·
1y ago
Medial
India's mobile gaming market is experiencing rapid growth, with the annual revenue of the gaming industry set to double to $6 billion by 2028. The number of paying gamers is projected to reach 240 million by 2028, and the industry is comprised of over 1,400 gaming companies. The government's recognition of esports and state-led initiatives to develop talent are driving the growth of professional players in the country. Game downloads in India have surged from 5.65 billion in 2019 to 9.5 billion in 2023. Mobile gaming dominates the Indian market, accounting for 90% of revenue. The industry is expected to create 2.5 lakh new jobs in the next decade.
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India's online gaming sector may cross $9 billion by 2029: Report
Economic Times
·
4m ago
Medial
India's online gaming sector is projected to grow from $3.7 billion in 2024 to $9.1 billion by 2029, primarily driven by real money games, which dominate the market. With 591 million gamers and numerous gaming companies, India is poised to become a global gaming powerhouse. The sector has attracted significant foreign investment, with real money gaming accounting for a major share. The burgeoning industry is expected to unlock substantial investor value and create numerous jobs.
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Indian digital gaming industry to more than double to $7.5 billion by FY28: Lumikai
Economic Times
·
1y ago
Medial
The Indian digital gaming industry is expected to reach $7.5 billion by fiscal year 2028, more than doubling from its $3.1 billion revenue in fiscal year 2023. Lumikai, a gaming venture capital firm, attributed this growth to in-app purchases, ad revenues, and an expanding user base. The report noted that the real money gaming segment could face challenges due to taxation policies and industry consolidation. India had 568 million gamers in fiscal year 2023, with 25% being paying users. Non-metro cities showed significant engagement in the gaming industry.
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Gaming, animation, VFX market projected to touch $6.8 billion by 2026: report
Economic Times
·
11m ago
Medial
The Indian online gaming, animation, and VFX market is projected to reach $6.8 billion by 2026, with the gaming industry alone estimated to be worth $4.6 billion. The Animation & VFX sector is predicted to grow from $1.3 billion to $2.2 billion during the same period. The report emphasizes the potential of the AVGC (Animation, Visual Effects, Gaming, Comics, and Extended Reality) sector as a major employment generator, with over 160,000 new jobs expected to be created annually and a total of 2 million jobs by 2030. The implementation of the National Draft Policy Framework for AVGC-XR is recommended to support the growth of the sector.
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Mumbai in line to house govt’s animation centre of excellence
Economic Times
·
1y ago
Medial
The Indian government plans to establish a National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, and Comics (AVGC) and Extended Reality (XR) in Mumbai. The center, to be built in Film City, will be an 'anchor institution' similar to IITs and IIMs, with the aim of boosting the growth and potential of the AVGC sector. The government has also proposed an AVGC policy, which is awaiting cabinet approval. According to a taskforce report, India has the potential to capture 5% of the global AVGC market share by 2025 and create over 160,000 jobs annually.
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Zerodha's Kamath urges Indian folks to seek gaming career for kids
Internet
·
1y ago
Medial
Zerodha's Nikhil Kamath hosted a conversation on India's gaming scene with industry leaders and gamer Animesh Agarwal on his "WTF is" podcast. They delved into gaming as a career in India, the popularity of PUBG, and earnings of gaming influencers. Kamath's investment in Nazara Technologies reflects his belief in gaming's potential. India expects to create jobs through gaming industry boom.
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Gaming major Krafton launches incubator programme for Indian startups
Economic Times
·
1y ago
Medial
Krafton, the gaming company behind BattleGrounds Mobile India, is launching a gaming-focused incubator program for Indian startups. The program will enroll six to ten teams every year and offer funding support ranging from $50,000 to $150,000, with exceptional teams eligible for up to $250,000. Participants will receive mentorship from gaming industry executives and have access to Krafton's resources. The program is open to early-stage startups, students, and independent developers of games across various formats. Krafton has already invested $140 million in 11 Indian gaming and content-driven ventures.
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