Gaming industry is poised for a transformative year in 2024: Roland Landers

It’s time to review the most significant industry developments as the year 2023 draws to a close. Adgully is reviewing the year 2023 for M&E, Advertising, Digital, Marketing, PR, and communications, along with leading names in the industry as part of its annual Rewind series.

Recapping the year 2023, Roland Landers, CEO, All India Gaming Federation, speaks at length about the dynamic changes seen in the Gaming ecosystem in India in 2023; gaming industry trends this year, and much more…

Key trends

As the gaming industry continues to evolve, we have witnessed the emergence of new monetization models, with traditional methods being complemented by blockchain-based gaming, metaverse experiences, and play-to-earn models. Simultaneously, the demand for vernacular language games is also on the rise, reflecting the need for inclusivity within the Indian gaming landscape. This shift is expected to prompt gaming companies to develop more games in vernacular languages, catering to a wider audience.

Moreover, responsible gaming practices are set to take center stage, with gaming platforms placing a greater emphasis on age verification, responsible advertising, and enhanced player support. Looking ahead to 2024, the industry anticipates the implementation of IT Rules for online games and the establishment of self-regulatory bodies for game verification. Additionally, a six-month review by the GST Council will assess the impact of the 28% GST rule, while hopes are high for the resolution of ongoing concerns surrounding retrospective taxation.

Furthermore, the industry is eagerly anticipating the release and implementation of AVGC policies by multiple states, aligning with the recommendations of the AVGC Task Force’s report from the Ministry of Information and Broadcasting.

With these developments on the horizon, the gaming industry is poised for a transformative year, marked by innovation, inclusivity, and responsible growth.