Nazara Technologies stock has seen a 30 percent upmove in the last six months and is up 85 percent from its issue price. In an interview with CNBC-TV18, Manish Agarwal, CEO of Nazara Technologies, discussed the outlook.

Share Market Live

NSE

“While Google problem is getting sorted, there are many such advertising networks, which we have explored and found that we could scale our marketing spends and net new subscriber additions keeping in mind similar kind of unit economics. Hence our marketing spends are not going to drop this quarter, they are going to be higher than the previous one, which means that our new subscribers will grow versus our previous quarter,” he said.

Also Read:

Factoring in 31% profit growth in Nifty50 in FY22; negative on media cos: Kotak Institutional Equities

With regard to slowdown in Kiddopia business in the US, he said, “Growth rate slowdown is directly marked to marketing spends. If your marketing spends are lower, your relative subscriber addition is lower and hence your growth rate would be lesser. As we figure out more and more opportunities to spend more Dollars on marketing, we would be able to get the growth back.”

From a market perspective, Agarwal said that Kiddopia has 4-5 percent market share.

Last year, the company grew roughly at around 80 percent. “Given the size of the market, given the retention engagement numbers that we have, we want to be super aggressive as the attribution problem gets solved,” he said.

For the full interview, watch the accompanying video.

Catch all live market action here.

(Edited by : Dipika Ghosh)