financetom
Business
financetom
/
Business
/
Here’s how Facebook plans to cash in on India’s gaming boom: Report
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Here’s how Facebook plans to cash in on India’s gaming boom: Report
Oct 18, 2021 10:43 AM

Social networking giant Facebook is looking to capitalise on the gaming boom in India, its third-largest market in terms of game play sessions, according to a report. Encouraged by a massive growth in game play sessions in recent months on its platform, Facebook is pushing ahead with its India plans.

Facebook registered 234 million game play sessions in the months of July an August, Moneycontrol reported, quoting Manish Chopra, Director and Head of Partnerships at Facebook.

"What started off in the early days of the pandemic, has actually matured into a very secular growth that's continuing to develop and grow,” Chopra was quoted as saying by Moneycontrol, narrating the positive prospects of the mobile gaming industry in India.

Market size

According to a recent report by Internet and Mobile Association of India (IAMAI), RedSeer and OnePlus, the mobile gaming market in India is set to grow to $6-7 billion by 2025 from $1.8 billion in 2021.

Though Chopra did not reveal the number of Indian gamers on the platform, globally there are over 380 million users playing games and 200 million watching others play video games every month on Facebook.

He, however, mentioned that around 20 million users in India were active members of various gaming groups on Facebook in July and August, according to the Moneycontrol report.

A game changer

In the past few years, Facebook has given a greater push to understand how its users play games and what creators expect from the tech giant. It has revamped its gaming experience by foraying beyond social games and adding new features and services such as game streaming, virtual reality (via Oculus) and cloud gaming.

Also read: GST breather for gaming industry, casinos and racecourses operating in India

The social networking giant launched the app, Facebook Gaming, in April last year. In 2019, it had rolled out a dedicated gaming tab that allowed its users to play instant games, watch gaming videos and connect with members of other gaming groups.

Facebook is focusing on casual gaming, which is still its mainstay, and is not looking at competing with console makers or PC gaming.

A number of publishers are engaging with new gamers on the platform with instant playable versions of their games, hoping to attract users to their console-based gaming titles, Moneycontrol added, quoting Chopra.

Working with creators

To boost its game streaming service, Facebook is collaborating with gaming video creators and game publishers. The company is looking to bring more diverse creators onto the platform. It has also been working with large AAA gaming publishers such as Garena and Krafton.

Gaming event

Facebook will kick off its first gaming event India -- FB Gaming Press Start 2021 -- on October 19. The event, that will be held for two days, will deliberate on Facebook instant games and cloud opportunities, Facebook gaming services, Facebook gaming video programmes and monetisation from popular gamers in the gaming community.

Also read: View: 4 reasons how 5G will unleash a new era of mobile gaming industry

(Edited by : Shoma Bhattacharjee)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Flutter Entertainment Rearranges Reportable Business Segments
Flutter Entertainment Rearranges Reportable Business Segments
Mar 24, 2025
12:14 PM EDT, 03/24/2025 (MT Newswires) -- Flutter Entertainment ( FLUT ) said Monday it has grouped its brands under two segments, namely US and international. The new grouping will be effective from Q1, and will not have any effect on consolidated financial results. The US segment will consist of FanDuel brand, while the international segment combines Flutter's UK, Ireland,...
EZCORP to Raise $300 Million in Notes Offering; Shares Rise
EZCORP to Raise $300 Million in Notes Offering; Shares Rise
Mar 24, 2025
12:19 PM EDT, 03/24/2025 (MT Newswires) -- EZCORP ( EZPW ) said Monday it plans to sell $300 million of senior notes due 2032 in a private offering, subject to market conditions. The company, a pawn shop operator, said it expects to use a portion of the net proceeds to repay its outstanding 2.375% convertible senior notes due 2025 at...
What's Going On With Tesla Stock Monday?
What's Going On With Tesla Stock Monday?
Mar 24, 2025
Tesla Inc ( TSLA ) shares are trading higher Monday as broader markets rebound amid reports suggesting tariffs could be narrower and more targeted. What To Know: According to a Bloomberg report, U.S. President Donald Trump’s reciprocal tariffs may be more targeted than what was initially expected. The report indicates that the Trump administration could hold off on introducing sectoral-specific...
Scope Technologies Raising $1.5 Million in a Private Placement of Shares
Scope Technologies Raising $1.5 Million in a Private Placement of Shares
Mar 24, 2025
12:16 PM EDT, 03/24/2025 (MT Newswires) -- Scope Technologies ( SCPCF ) Monday said it is raising up to $1.5 million in non-brokered private placement of shares. The company said it will place up to three-million shares priced at $0.50 per share in the financing. First Majestic Silver (AG.TO) is investing $1 million as a strategic investor and enterprise client...
Copyright 2023-2026 - www.financetom.com All Rights Reserved