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Tag: gaming sector

  • Modi collaborates with leading gamers to boost India’s esports industry

    Modi collaborates with leading gamers to boost India’s esports industry

    Mumbai: In a bid to drive forward the development of India’s burgeoning Esports industry, the country’s notable gaming personalities convened in a groundbreaking dialogue with PM Modi and discussed the growth of the nation.

    The roundtable discussion featured Animesh Agarwal (8Bit_Thug), Naman Mathur (Mortal) and Payal Dhare (PayalGaming) of 8BitCreatives, India’s leading gaming influencer management agency alongside Ganesh Gangadhar (SKRossi), Anshu Bisht (GamerFleet), Mithilesh Patankar (MythPat) and Tirth Mehta.

    Esports in India has grown from a pastime activity to a new-age ‘multi-sport’ event, officially recognised by the government. The latest FICCI-EY report titled ‘#Reinvent: India’s media & entertainment sector is innovating for the future’, states that participation in Esports tournaments surged to 1.8 million in 2023, across various prominent titles and competitive levels, with an estimated increase to 2.5 million in 2024. Additionally, game streamers witnessed a notable rise in viewership of 20% to 25%, particularly in Tier-II cities.

    Sharing his perspective on discussing the exponential growth of Esports in India with the prime minister, 8Bit Creatives founder and co-founder of S8UL & CEO Animesh Agarwal stated, “It was truly an honour to discuss the rapid rise of Esports in India with our prime minister Modi and share our vision about revolutionising the future. I was personally awed at the PM’s understanding of the nuances of the industry, especially when he mentioned that the industry right now needs to grow with support, and not regulation from the government. We also discussed ease of business around gaming and literally voiced our aspirations at the highest possible forum. Gaming is now a mainstream sport and with the government’s support we will be able to take it to the next level.”

    S8UL co-founder & CMO of 8Bit Creatives Naman ‘Mortal’ Mathur called the experience surreal and said “Being in the presence of the PM, discussing the topic closest to my heart, was indeed surreal. Who thought I would be playing with the PM & personally walking him through the nuances of one of the games around the theme of Indian mythology. I hope this moment is an inflection point for gaming & esports in India.”

    Payal Dhare looked back at the interaction and mentioned “Discussing prospects for female gamers in India with the PM made my journey so much more worthwhile. I realized that he is a great listener, and perfectly paraphrased the difference between esports & gaming content creation, something we now hope everyone will be able to understand. His vision for game development in India around Indian culture, environmental issues, etc is something I felt very strongly about, and I hope it helps take Indian games to the global stage. Thanks to sir for gifting us a lifetime memory.”

    8Bit Creatives co-founder Lokesh ‘Goldy’ Jain expressed his pride and said, “This is bound to have outcomes for the industry which I look forward to, but as of now I am focussing on the happiness I am feeling. Having three of my own sit with the PM and discuss gaming & esports, reminds me of why I do what I do. I am completely aligned with the PM’s vision, and hope to work towards it with my team, to the extent we can.”

    During the discussion, the gamers delved into various aspects of gaming, including esports, game development, impact on youth, the global presence of India in the industry, and more. The gamers also shared their individual journeys, struggles & wins. 

  • Entertainment and media industry to double in five years

    Entertainment and media industry to double in five years

    MUMBAI: India’s entertainment and media industry is expected to double and grow to over Rs 2,27,000 crore by 2018 from Rs 1,12,044 crore in 2013, according to a report by industry body Confederation of Indian Industry (CII) and professional services firm PwC.

     

    “The industry growth is expected on account of healthy growth in areas like advertisement and television industry,” the report – India Entertainment & Media Outlook 2014 predicted.

     

    In 2013, the broad entertainment and media industry, anticipated to be Rs 1,12,044 crore rose 19 per cent over the preceding year. The film segment was estimated at Rs 12,600 crore in 2013 and is projected to grow steadily at a CAGR of 12 per cent, on the back of higher domestic and overseas box-office collections as well as cable and satellite rights.

     

    Internet access and internet advertising were the fastest growing segments in 2013, clocking growth rates of 47 per cent and 26 per cent respectively over the previous year. The report added that the companies in the sector will need a business strategy fit for the digital age. The industry needs to get even closer to the consumer and adopt more flexible business models.

     

    “The revenue from advertising is expected to grow at a CAGR of 13 per cent and will exceed Rs 60,000 crore in 2018 from Rs 35,000 crore in 2013. Internet access has overtaken the print segment as the second-largest segment contributing to the overall pie of entertainment and media sector revenues,” it said. 

     

    Television and print are expected to remain the largest contributors to the advertising pie in 2018 as well. Internet advertising will emerge as the third-largest segment, with a share of about 16 per cent in the total entertainment and media advertising pie, as per the estimates.

     

    PwC India Entertainment and Media practice leader Smita Jha said, “Digital success does not just necessarily mean better, improved technology. It means applying a digital mindset to build the right behaviours among industry stakeholders. This includes getting ever closer to the customer–across the entire organisation, and in everything it does.”

     

    With the rapidly increasing mobile usage, the gaming sector is also emerging as a promising source of revenue for the industry. Efforts by industry players as well as support from the government are expected to provide a major boost to the gaming sector, which is still in its infancy.

     

    Out-of-home advertising is gradually expected to slide to the last position in terms of revenue contribution to the sector, with its share declining to 1 per cent in 2018, while music remains constant at 1 per cent revenue share between 2013 and 2018.