Page 9 - Gaming Industry

India's online gaming market grew by 23% in FY24 despite GST burden: Report

Average weekly time spent on online games soars 30%. Over 44% of gamers are now women, up from 41% the previous year, playing casual mobile games

India emerging as good opportunity market for Sony's gaming biz: India MD

India is emerging as a "good opportunity market" in the gaming business for the consumer electronic major Sony, its India Managing Director Sunil Nayyar said. The company has reported "phenomenal growth" in the gaming business in FY24, with the robust performance of PlayStation 5 and its software peripherals. Sony India's PlayStation dominates the console operating gaming system market here with around 95 per cent market share and has almost doubled its revenue in FY 2023-24 from the segment. However, now, it expects a moderation in the growth rates because of the high base, Nayyar said. "Now, the base is very high because we almost achieved the double business last year. So this year, we intend to have modest growth, but we are developing the gaming business market in the country, including software development and peripherals etc," the Sony India MD told PTI. Sony India last week filed its annual returns to report over 50.1 per cent growth from its 'other business' segment at Rs

India's gaming industry steps up profile with homemade 'AAA' products

Two such games launched in October alone as the industry tackles 28 per cent GST

Awareness essential to protect oneself from 'cyber arrest' scams: PM Modi

Prime Minister Narendra Modi on Sunday spoke about the cyber crime of "digital arrests", noting that it has hit all sections of society and urging people to adopt the mantra of "stop, think and take action" when faced with such a scam. In his 'Mann ki Baat' broadcast, Modi said probe agencies are working with states to deal with the issue but added that awareness is essential in protecting oneself from this crime. The prime minister played a representative video to show how such criminals pose as probe agency officials to prey on people's fear after gathering detailed information about their potential victims. He said, "Beware of Digital Arrest frauds.No investigative agency will ever contact you by phone or video call for such an investigation." Modi asked people to dial 1930 to connect with national cyber helpline or connect with its portal and also inform police about such a crime. They should record such conversations and also take screenshots, he said touching on the crime wh

Mann Ki Baat: PM Modi cites 'Chhota Bheem', praises Indian animation sector

Citing the popularity of Indian animated series such as 'Chhota Bheem', 'Hanuman' and 'Motu-Patlu', Prime Minister Narendra Modi on Sunday said India is on the way to ushering in a new revolution in the world of animation and urged the people to take the resolve of making the country a global animation powerhouse. In his monthly Mann Ki Baat radio broadcast, he said India's animation characters and movies, on account of content and creativity, are being loved all over the world. "You must remember the days when 'Chhota Bheem' started airing on TV.Children can never forget that; there was so much excitement about 'Chhota Bheem'! You would be surprised that today 'Dholakpur ka Dhol' attracts children not only in India but also in other countries. Similarly, our other animated serials such as 'Krishna', 'Hanuman', 'Motu-Patlu' also have a fan-following all over the world," the prime minister said. "You might have noticed that from the smartphone to the cinema screen, gaming console to

MPL-parent M-League's revenue increases 22% to $130 million in FY24

MPL's India revenues increased by more than 35 per cent to roughly $88 million for FY24

Gaming industry can possibly boost employment growth: Priyank Kharge

Calling Karnataka the "innovation and skilling capital of the country," he also highlighted the various centres for animations, visual effects etc., which have been set up in the state

Games of skill vs Games of chance: Framework looks to clarify difference

Will be sent to Meity for feedback to be added to 2nd draft

India's gaming sector to double topline in 4 years despite funding slowdown

Companies in the social and casual gaming sector earned Rs 13,800 crore in 2023 and are expected to reach Rs 36,600 crore in topline in the next five years

Gaming unicorn Games24x7 looks to branch out as technology platform

The program will provide mentorship, masterclasses, networking, and funding opportunities, along with credits worth $500,000 from over 30 technology partners

A23's founder calls for 'whitelisting' of govt-recognised gaming operators

Also announces the launch of the company's rummy fest, A23 Rummy Maha Mela, with a Rs 100 crore prize pool from October 5

Enforcement Directorate and Binance crack down on Fiewn gaming app scam

The money was laundered using digital wallets linked to a global cryptocurrency exchange

Pokemon sues adventure game 'Palworld' producer for patent infringement

The Pokemon Company and Nintendo have sued Pocketpair, the creator of the hit adventure game 'Palworld'. The lawsuit alleges patent infringement against the popular game, launched earlier this year

Microsoft to cut 650 jobs from its Xbox unit in third layoff this year

Xbox employees had been bracing for further reductions after Microsoft cut 1,900 jobs, many from Activision units and studios, in January

Indian online gaming industry needs unified regulator: Gujarat NLU report

The online gaming space in India needs a uniform legal framework, evidence-based policy interventions, and an important equilibrium between user protection and the industry's economic potential, a recent report has said. The Gujarat National Law University (GNLU) on Wednesday released the "Evaluating Blanket Bans and Mandatory Limits in Gaming" report, calling for regulations on the online gaming industry. With over 500 million gamers, India is the second-largest market globally after China, the report said. "This rapid expansion, as with any emerging technology, has brought forth challenges, particularly concerning user safety and financial risks. The absence of an overarching regulation has left users in a grey zone," it said. The report studied international frameworks and noted that unlike India, nearly all jurisdictions have established licensing processes and enforced a duty of care for gaming operators. "India should adopt a regulatory framework that mandates operators to

Streaming and gaming: AyeVee's offering bridges two fast-growing markets

An Indian firm has become the first to offer viewers the chance to play a game within a streaming show. Can it work?

Age-rating framework for content needed in India, says gaming body

Age-rating and content description, while not legally mandated, play a crucial commercial role in ensuring the widest access and dissemination of a publisher's gaming content among the public

Black Myth: Wukong game is a hit on launch: What's driving the success

The launch of Black Myth: Wukong marks a bold step for Chinese game developers into a market traditionally dominated by Western titles

PM Narendra Modi calls on India's gaming talent to lead the world

According to Anuraag Saxena, CEO of industry body E-Gaming Federation (EGF), India has about 40 per cent of the world's games, with less than 1 per cent of gaming revenues

Gaming major Nazara Tech buys UK-based Fusebox Games for Rs 228 cr

Gaming and esports company Nazara Technologies on Thursday announced acquisition of Fusebox Games, an IP-based gaming studio in the United Kingdom, for Rs 228 crore in an all-cash deal. Fusebox has 30 employees primary based in the UK. "Nazara Technologies, India's only publicly listed diversified gaming and sports media company, announced the acquisition of Fusebox Games," a release said. Nazara said it will purchase Fusebox for Rs 228 crore in an all-cash transaction. Fusebox publishes interactive story game Love Island' and is developing new games based on popular global TV IPs. For calendar year 2023, the company reported revenue of Rs 87.5 crore with an EBITDA (Earnings Before Interest Tax Depreciation and Amortisation) of Rs 11.7 crore. According to the release, during calendar year 2024, Fusebox demonstrated strong growth with year-to-date revenue (January - July) at Rs 116.6 crore with an EBITDA of Rs 33.3 crore. "We see a large opportunity in building an IP based global