India is on the cusp of becoming one of the biggest online gaming markets: Manav Sethi
Shrugging off the disruptions of the year gone by, businesses and agencies are looking for a strong revival in 2021. Over the next few weeks, Adgully – as part of its annual TRENDING NOW endeavour – will be presenting the strategies and views of a cross-section of industry leaders as they go about reclaiming lost time and market opportunities and build for a stronger future, armed with the lessons of 2020.
Octro Inc has become the largest and fastest growing mobile gaming company in India. Octro recently stated that its game, TeenPatti, witnessed 800% growth in paying users in 2020. Backed by Sequoia Capital, the company has been creating made-in-India leisure options for world at large, thereby gaining a strong foothold within the Indian gaming industry with projected user base of more than 700 million gamers in India by 2022.
Manav Sethi, who joined Octro Inc as Global Chief Marketing Officer in July 2020, is very upbeat about the online gaming industry in 2021. Listing the key gaming trends for the year ahead, Sethi said that these included:
- The Rise of Gaming Metaverse
- A Marvel movie coming from a blockbuster game (next 5 years)
- Rise of eSports
- Video & Audio consumption moving to gaming platforms at scale
“We should also see India creating at least 5 global gaming IPs that can be taken to 100+ markets in the next decade,” he affirmed.
Sethi further said that India is on the cusp of becoming one of the biggest online gaming markets in the world. According to a new report by KPMG, the industry could be worth $1.1 billion by 2021. However, there is an urgent need for a predictable regulatory regime in Fantasy Gaming and real money gaming of all kinds.
“In 2021, we do hope that the Indian government creates favorable regulatory regime for foreign investment to come into India, both for online gaming and Real Money gaming. This will result into significant employment opportunities, made-in-India games and tax contribution to the exchequer,” Sethi added.