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News on Medial
India’s gaming industry powers up
Economic Times
·
1y ago
Medial
India is the world's largest gaming market, with 568 million gamers and over 9.5 billion gaming app downloads in 2023. Mobile gaming dominates the market, contributing to 90% of the industry. The introduction of vernacular languages and Indian themes has expanded the user base to non-English speakers. Approximately 40% of Indian gamers are women, showing a preference for casual and hypercasual gaming. Around 20% of gamers are paying users, with in-app purchases expected to grow at a rate of 35% CAGR.
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Meet underDOGS, the Mumbai studio bringing transmedia gaming to India
YourStory
·
11d ago
Medial
Mumbai-based underDOGS Studio, initially a B2B gaming firm, now creates original gaming IPs for PC and console, aiming to capitalize on India’s burgeoning $4.3 billion gaming industry. They gained success with mobile games like Skatelander and transitioned to producing narrative-driven games, like Mukti, funded by Sony and Epic Games. With a focus on cross-platform and transmedia storytelling, underDOGS seeks to pioneer culturally rooted stories in global gaming, eyeing a significant industry share.
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Age checks, spending limits, self-exclusion needed for safe online gaming: Report
YourStory
·
2m ago
Medial
A report by IndiaTech.org and Digital India Foundation advises India’s online gaming industry to implement voluntary safeguards over strict regulations to minimize risks like addiction. The proposed Code for Responsible Online Gaming (CROG) emphasizes age verification, spending controls, and self-exclusion. It stresses that punitive measures, like China’s playtime limits, drive users to unregulated platforms. The report advocates a “player-first” approach, combining oversight, financial safeguards, and education to foster responsible engagement and ensure user protection.
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MeitY may ask MCA to keep ex-ante out of Digital Competition Bill for now
Economic Times
·
1y ago
Medial
The Ministry of Electronics and Information Technology (MeitY) is expected to propose that the ex-ante provision in the Digital Competition Bill (DCB) draft should be excluded from the legislation for now. The Ministry may suggest further consultations with industry, startups, and stakeholders before finalizing the draft. There is a general consensus that the ex-ante provision needs further consideration and it may not be the right time for its implementation. The DCB draft proposes giving the competition regulator preemptive powers in addition to its current reactive powers. Several stakeholders have expressed concerns about the provisions, including startups and industry groups.
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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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How Nazara Managed To Score A Point While Other Gaming Companies Cry Foul
OutlookIndia
·
1y ago
Medial
Nazara Technologies, a gaming start-up, has successfully raised INR 510 crore in recent funding despite the government's decision to impose a 28% GST on real-money gaming. The company's conservative approach, diversification strategy, and minimal exposure to real-money gaming have given investors confidence that Nazara can weather the sector's challenges. With revenue streams from various sources, such as subscriptions, platform fees, and advertising, Nazara plans to consolidate operations and continue its growth in the gaming industry. The company is also considering acquiring profitable game studios to expand its library.
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28% GST on online real money games: 3 layoffs, 3 shutdowns, what’s next?
Entrackr
·
1y ago
Medial
The imposition of 28% GST on online real money games has led to layoffs and shutdowns in the Indian gaming industry. Mobile Premier League (MPL), Spartan Poker, and Hike Rush Gaming Universe have laid off employees, affecting over 500 jobs. Additional startups like Fantok and One World Nation (OWN) have halted services or shut down. The move has raised concerns about the survival of startups in the industry. The policy risk and the GST impact are significant challenges, and some companies are exploring international expansion. KRAFTON announced a $150 million investment in India, while Ampverse plans to set up a gaming studio in the country.
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'We Indians have had it far easier': Sridhar Vembu urges India to match China’s will to rise
Business Today
·
3m ago
Medial
Sridhar Vembu emphasizes that for India to rival China, it must focus on a civilizational revival, not just economic growth. He notes that Japan and Korea became global powers through cultural and economic awakenings, suggesting that India’s progress should mirror these nations. By understanding China's struggles and modeling its perseverance, Vembu asserts that Indians need to believe they are part of a broader renaissance, not merely witnessing another phase of GDP expansion.
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23-year-old, Shwetank Pandey, from Kanpur, Uttar Pradesh, becomes India’s First Chief Gaming Officer from 60,000+ applicants
Startup News FYI
·
1y ago
Medial
Shwetank Pandey, a 23-year-old from Kanpur, Uttar Pradesh, has been chosen as iQOO’s first ever Chief Gaming Officer after a 3-month long nationwide hunt. Shwetank was the last man standing amongst 60,000+ applicants, who applied to become one of India’s youngest Chief Gaming Officers with iQOO, the high performance smartphone brand.
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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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Nazara, Nikhil Kamath’s WTFund Invest In Two Gaming Startups
Inc42
·
8m ago
Medial
Norican Games and Xigma Games have recently received investments to help expand their gaming businesses. Norican Games, founded by Jake Koshy in 2019, focuses on developing online games for PC and console. Xigma Games, founded by Himanshu Manwani and Govardhan Gosavi in 2015, has created popular games such as The Bonfire, Rubek, and Super Nano Jumpers. The investments will help these startups to grow and scale up their operations in the gaming industry.
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