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Real-money game over battle will now shift to the old field
Following the real-money game ban in India, traditional gaming studios anticipate growth as RMG players migrate to casual gaming. This shift is expected to attract investment and talent, with developers focusing on in-app purchases and subscriptions. An industry association has formed to engage with regulators, seeking support and incentives for the gaming sector's continued development.
New Delhi: Traditional gaming studios are anticipating a positive impact on their businesses from the government move to impose a blanket ban on real-money games (RMG). Following the ban, a sizeable base of RMG players are expected to return to casual gaming, triggering a fresh wave of investments and even attracting serious development talent, according to industry executives.
Even prior, 66% of paying RMG users and 60% fantasy gaming users paid for mid-core gaming content such as Battlegrounds Mobile India (BGMI), according to venture capital firm Lumikai, suggesting a natural migration towards traditional gaming.
The ban, effective August 20, has forced nearly all major RMG platforms to close operations. Dream11, MPL, Gameskraft, WinZo, and others have either suspended or completely wound up their RMG offerings, with some looking to pivot to other markets and sectors."A lot of talent from large-scale RMG companies including data analysts, product managers are already moving to other interactive media and gaming companies, while global publishers are expected to partner more heavily with compliant, casual, and free-to-play gaming businesses, as the previous aversion due to the RMG overlap will decrease," said Salone Sehgal, founder & managing partner, Lumikai, an investor in gaming and interactive media companies. However, not all users are planning to switch.
"It will be more evident among those playing RMG games casually, who simply enjoy games for the dopamine boost, will seek new games, particularly social casinos and regular video games," said Akshat Rathee, CEO of eSports promoter Nodwin Gaming. "The addicted players will find ways by moving to offshore platforms, or resorting to creative solutions such as WhatsApp and Telegram groups where one of them would act as the settler, which would make government tracking more difficult." However, investors are currently in cooldown mode due to significant write-offs from the RMG ban, but the next round is expected to usher in more clarity and regulatory support. "We have to re-engage with all the investors, because currently investors are scared. Because they've lost a lot of money ... So, there will be a cooling off period right now," Gondal said.
Following the ban on RMG, nine top Indian game development studios and publishers have banded together to form an industry association called Indian Game Publishers and Developers Association (IGPDA) to engage with the government and the to-be-appointed regulator to provide support and inputs. The nine members, which includes publicly-listed game publisher Nazara Technologies, along with studios such as Gametown, nCore Games, Reliance Games, SuperGaming, Tara Gaming, underDOGS Studio, Aeos Games, and Dot9 Games, explicitly excludes real-money gaming companies, and those outsourcing game development. Together, the association is valued at over $2 billion and already has popular games out in the market.
"Regulators in other industries need a lot of support from the industry," said Gondal, a founding member of IGPDA. "We will require incentives. There is a creator fund. We want to make sure it is channelised in the right way."
Venture capitalists investing in the sector said they currently have greater clarity on the matter. Business models involving cash-in, cash-out; staking with the expectation of monetary gains, are explicitly prohibited while in-app purchases are allowed as long as they do not involve staking.
"It is too premature to call it (the bill) the demise of the industry. The broader industry still remains intact with significant growth opportunities in free-to-play, mid-core, games along with AI-native content and platforms, and tools and infra supporting the sector," said Sehgal from Lumikai.
Monetisation models will now pivot to in-app purchases, subscription and access fees, and advertisements will be leveraged more, Sehgal said. "New models like virtual gifting and tipping have also emerged. Average revenue per user in the gaming sector, excluding RMG, has grown from $2 a couple of years back to $10-$22 now, depending on the platform," she said.
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Source: EconomicTimes
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