India's Gaming Landscape: Monetisation Trends And Evolving User Dynamics

In a bylined piece for Inc42, Salone Sehgal, Founder and Managing Partner of Lumikai, examines how India has emerged as a global hub for consuming world-class games, with 568Mn gamers and 15.4Bn mobile game downloads in FY23 and a market projected to reach $7.5Bn by FY28.

She notes that in-app purchases and ad revenue in casual and mid-core games already contribute $1.1Bn, expected to grow to $5Bn by FY28. Outside BGMI and Free Fire, in-app purchase revenue grew 37% year on year, while in-game ad revenue is projected to reach $1.7Bn by FY28 as eCPMs in India cross $1.

Drawing on Lumikai's research, including its Annual State of India Gaming report for FY23 with Google, she points to a 25% conversion of gamers to paying users, an ARPPU of $19.2 that has grown nearly tenfold since FY19 and a 20% rise in weekly gaming time to 10 to 12 hours. UPI has been a game changer, preferred by 62% of surveyed gamers against 7% for credit cards.

Read the article here.