Tag: gaming

Gaming companies innovate survival strategies amid 28 percent GST impact

Nazara is aiming to identify opportunities within the gaming, esports and adtech arenas internationally particularly with a focus on established gaming IP’s/studios, those advancing in technologies like web3, Virtual Reality, and AI.

The impact of this GST change isn’t just about how games are advertised but also about how they’re made and what they offer to players, said experts.

Shah Rukh Khan shines in A23 Poker’s campaign amidst Jawan’s box office success

A23 chose to launch both commercials simultaneously, striking a balance between promotional content and responsible messaging.

Recent celebrity endorsements of gaming ads, like Sachin Tendulkar’s association with Paytm First Game, have faced backlash. However, legal gaming companies in India can advertise across platforms as long as they include proper disclaimers.

If you wish to reach a younger, more tech-savvy, audience, it has to be through gaming and esports: Piyush Kumar

Piyush Kumar, founder and CEO, Rooter, said, "Game streaming has existed and grown independently of esports. A case in point is that despite no offline esports tournaments happening during the pandemic, game streaming has become a popular way for professional esports players and upcoming gamers alike to play and connect with their community."

Esports IPs in India are setting new viewership records. In the recent BGMI Master series, Rooter garnered 84.8 million views across platforms.

Gaming influencers – How would 28 percent GST affect marketing spends on influencers?

As per Rohit Agarwal,founder and chief executive officer, AlphaZegus, in the influencer space, the imposition of 28 percent GST is less of a concern than recession, which is a greater concern. (Representative Image: AronPW via Unsplash)

Starting October 1, a 28 percent GST will be imposed on the face value of both games of skill and games of chance. Storyboard18 connected with an influencer and industry experts to understand the impact of the levy on brands’ marketing spends on influencers and therefore, the influencer economy.

SC ruling on Gameskraft GST case could decide fate of India’s real-money gaming industry

The Supreme Court recently stayed the Karnataka High Court's judgment that had quashed the GST department's show-cause notice to Gameskraft in May 2023. (Representative image by Michał Parzuchowski via Unsplash)

The skill-based gaming industry, which will now pay higher GST, will be further hit if the Supreme Court ruling is unfavourable, making them pay retrospective GST liabilities.

Google to allow real-money games on Play Store after implementation of gaming rules

The tech giant has encountered similar issues with its AI-powered products previously as well. It had to halt its chatbot Gemini in February after it received backlash for its "woke" remarks. (Representative Image: Brett Jordan via Unsplash)

Google is providing a grace period for daily fantasy and rummy apps on Play Store until January 15, 2024, as the year-long real-money gaming pilot is set to end in September.

Ashneer Grover: Banning or targeting gaming has become a politically fashionable move

Last week, Grover had posted on X platform (formerly Twitter) about the equity allocation and secondary components undertaken during the unicorn’s Series E funding round. The $370-million fundraise valued the payments and financial services fintech at $2.86 billion

Ashneer Grover, who is the co-founder of BharatPe, says the survival of the gaming industry now hinges on organic growth. In an exclusive interview with Storyboard18, he says, “The gaming industry is a decade old, and the distinction between games of skill and games of chance has already been legally settled in the courts, including the Supreme Court. The only path forward, once approved by the courts, is through legislation…Gaming is not a vice; it has the potential to generate significant employment and government revenue.”

Gameskraft case: SC stays Karnataka HC’s judgment quashing Rs 21,000 cr GST notice

Moving on from taxes and revenues, the report also said that India’s online gamers are expected to grow at a CAGR of 5 percent and reach 53.8 crore by FY28. (Representational image via Unsplash)

In September 2022, a GST intelligence unit issued a show-cause notice to Gameskraft Technology alleging that the company failed to pay Rs 21,000 crore in GST, the biggest such claim in the history of indirect taxation.