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Real Money Gaming Key Revenue Driver In India’s Gaming Industry : Report
Inc42
·
1y ago
Medial
In FY22, real money gaming (RMG) accounted for 83-84% of the total revenue in the Indian gaming industry. Despite regulatory hurdles, the RMG sector attracts around 100 million online gamers daily, with 90 million of them paying to play. On average, users spend 8.5 hours per week on gaming. Additionally, the GST Council's decision to charge a 28% tax on entry fees has resulted in increased tax expenses for gaming startups.
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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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Online gaming continues to grow, but GST change to “moderate” monetisation: report
Economic Times
·
1y ago
Medial
A report by Winzo and IEIC suggests that the recent increase in goods and services tax (GST) in India will "moderate" monetization per user in the gaming industry. Pay-to-play games have historically been the largest revenue source in the Indian gaming sector, but high tax burdens are expected to impact user monetization. The report predicts that the gaming industry will continue to grow in terms of user base, but this growth will not translate into equivalent monetization due to recent tax policies. The report also highlights the rise of non-real money gaming (RMG) games, with battle royale games gaining popularity in the country. The Indian gaming ecosystem is projected to reach a revenue of $6 billion by 2028, with non-RMG games occupying a larger share of the market.
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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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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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Online Gaming GST Row: SC Stays ₹5,712-Crore Demand Against Paytm’s First Games
OutlookIndia
·
2m ago
Medial
The Supreme Court has stayed a ₹5,712-crore GST demand against Paytm's First Games, a real-money gaming platform. This dispute involves the classification and taxation of real-money gambling platforms under GST, impacting the broader online gaming industry. First Games challenged a retrospective GST notice, seeking relief on the GST rate applied to platform fees versus total bets. The issue highlights ongoing controversies about GST categorization and taxation in the Indian online gaming sector.
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Indian gaming companies enter big league with rising monetisation, global acquisitions
Economic Times
·
3m ago
Medial
India's gaming industry is thriving, with rising monetisation and global interest in local gaming IPs and talent. Companies like Nazara Technologies are expanding through acquisitions, while investors like Krafton explore Indian gaming opportunities. Non-real money games are gaining traction, with revenue from midcore games increasing. AI is democratizing game development but may heighten monetisation challenges. Despite a recent dip in venture capital, the market holds promise similar to China’s 2008 gaming boom, with growing global recognition.
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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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Google may levy service fee on real-money gaming apps
Money Control
·
1y ago
Medial
Google may levy service fee on real-money gaming apps that feature on its Play Store, according to its Android Developers Blog. "We will also be evolving our service fee model for real-money gaming apps...to help sustain Android and Play ecosystems," Google said. Google Play will also support more real-money gaming apps from June for users in India, Mexico and Brazil.
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Online poker platform Spartan Poker lays off 125 people after 28% GST blow
Money Control
·
1y ago
Medial
Spartan Poker, an online poker platform, has laid off 125 employees, constituting 40% of its workforce, allegedly due to the impact of the Indian government's 28% GST on the real-money gaming sector. This downsizing follows similar actions by companies like Mobile Premier League and Hike. Spartan Poker has not commented on the situation. The GST Council's decision to levy 28% GST on real-money games has affected the gaming industry, despite partial relief recommendations.
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Mobile Premier League net loss narrows to $37 million in FY23 as revenue grows, expenses fall
Economic Times
·
1y ago
Medial
Mobile Premier League (MPL), an online real money gaming company based in Bengaluru, reported a significant reduction in net loss for FY23 to $37.04 million compared to $194.47 million the previous year. The company's revenue rose by 63% YoY, reaching $104.63 million, while expenses decreased. MPL exited the merchandise business, slashing costs and laying off 100 employees. Although the online gaming industry faced challenges due to the amended GST regime, MPL and other companies in the sector continued to experience growth.
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