The gaming sector is growing rapidly and so far has generated loads of revenue. Money is realized from various avenues like online streaming and betting. This article talks about the importance of investment as a critical player in the Indian gaming industry. For more information about sports betting, visit this cricket betting tips blog.
The Impact of the Covid-19 Lockdowns on the Gaming Industry
Despite the economic disruption suffered by many sectors worldwide as a result of the COVID-19 pandemic, the gaming industry keeps thriving. It even boasts of a significant increase in patronage and revenue.
The introduction of lockdowns and social distancing practices has placed many restrictions on business activity and social interaction. Video games and online streaming provide an engaging distraction for people.
Since sporting activities have been stopped for a time, virtual sports have enjoyed significant patronage as people now resort to video games till sporting activities resume.
Since the lockdowns started, an astounding increase in playing time has been recorded; this was a big one for the gaming industry, as investors are now paying more attention to the industry.
Billionaires and multi-million dollar companies not only in India but all over the world are now interested in investing in the gaming industry. And this is the beginning of a new era in the gaming world.
Revenue is mostly generated by consumer spending, but the situation is slightly different now. Consumers tend to buy fewer games now compared to some decades ago. Hence the business model has shifted from a single-unit to recurrent revenue generated by consistent consumers.
An effective strategy to increase each consumer’s playtime is to make the games as engaging and compelling as possible and adopt in-game monetization opportunities.
Soon the following trends should be expected:
- Delivery of games via mobile and cloud-based platform
- Widening of monetization avenues through subscription and free to play models
- Increased partnerships with other entertainment sectors
According to Anant Goenka, the executive director at the Indian express group in his speech at the first edition of the Indian gaming summit (IGS). He stated that the online gaming sector has grown by a whopping 40% as it realized RS 6,500 crore.
At the end of 2022, the industry is estimated to triple its revenue by generating RS 18700 crore, resulting in 43% growth, the number of online fantasy gamers since 2018 also grew by 100%.
Despite the fantastic growth rate, if India intends to outstrip other countries on a global scale, then they will need to optimize revenue and encourage investment in infrastructure.
For the industry to grow and become monetized, a very strong infrastructure is required as well as intensive promotions on all media platforms to increase awareness. This way, talented individuals will see the game as a viable career option.
