VC fund Lumikai expects surge in gaming investments in 2024 - LiveMint
- Livemint
- Feb 6, 2024
- 1 min read
Updated: Feb 16, 2024
Lumikai Founding General Partner, Salone Sehgal, had an insightful conversation with LiveMint on the dynamic growth of the Indian gaming industry.
Salone shares some fun facts about the $3.1Bn Indian gaming market, the rising entrepreneurial talent in the country, and the promising opportunities that await in 2024.
1. Consumer spending on mobile gaming fell in 2023, whereas in India, IAP spending grew by 20%.
2. India's interactive media market grew to $12Bn in 2023, with gaming being the fastest sub-segment clocking $3Bn in FY'23 and projected to grow to $7.5Bn by FY28.
3. India gaming is already bigger than India box office! India's 568M gamers contribute to $3Bn in annual revenue which is already 2x the ~943M cinema footfalls contributing $1.4Bn.
As the macroeconomic environment experiences turbulence, India emerges as a strategic imperative for investors seeking yield.
The future of media is interactive.
Read the full article here.
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