![]() ![]() Industry growth is expected to be fuelled by a rapidly increasing gamer base, higher conversion to paid users, and increasing sophistication of the Indian gamer, notes Lumikai. The sector is on the rise in terms of funding which is up 380% from 2019 and up 23% from 2020. Funding, investment all on the riseīooming interest in investments and M&A show a promising picture for India’s fast-growing gaming industry. Indian gaming companies are on track to raise $513Mn for the calendar year ’22. Nearly 48% of gamers spend money on mid-core games.Ħ5% of paying gamers say they have made in-app purchases at least once. Who pays for games?Īs mentioned earlier, nearly one-fourth of the 507Mn gamers in India are paying users. This means it requires players to make time to play, rather than playing sporadically along with skill and strategy to progress. ![]() This trend of spending high amounts of time over the last year suggests a user base primed for more mature game experiences.Īverage revenue per paying user grew 11% to $20/year, with 2 Mn New Paying Users (NPU) added per month. It is followed by BGMI (80 mins), Genshin Impact (80 mins), COD Mobile (67 mins) and Clash of Clans (40 mins). Time spent on such games is approximately double that of top casual games, with Free Fire leading the pack with an average of 109 minutes spent/user/day. Mid-core games refers to those that are more complex than hyper-casual and casual games. Mid-core games such as BGMI, Free Fire were the fastest growing gaming category with a growth of 32%, grossing combined revenues of ~$550 Mn. Indian gamers spent an average of 8.5 hours per week on mobile games in FY22. This phenomenal growth can be credited to the young population with gaming-ready smartphones and access to cheap data, all contributing to sustained growth in gaming usage. ![]()
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