Tag: gaming

AVGC expected to become $30 billion industry in 4-5 years, says MIB Secretary Sanjay Jaju

Under his leadership, there have been initiatives such as the launch of Prasar Bharati’s OTT platform, advocacy for digital radio, and the production of high-quality, globally relevant content.

“Currently, the AVGC segment is $3 billion industry and we expect it to become $30 billion industry in coming 4-5 years. The segment currently has three lakh professionals. In future, we expect AVGC sector to create employment opportunities,” Jaju said.

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Esports get the green light, but RMG faces red flags in Tamil Nadu

N. Muruganandam, Chief Secretary of the Tamil Nadu government, had hinted at banning certain games and noted that online gaming addiction among children has grown, leading to harmful effects. Including esports in the CM's trophy clearly showcases Tamil Nadu government's plan to restrict pay to play games in the state.

Storyboard18 was the first to report that the Tamil Nadu government is considering an Australia-like gaming policy, which would age-restrict social media and gaming platforms.

Union Cabinet approves National Centre of Excellence for AVGC; Provisionally named the Indian Institute for Immersive Creators (IIIC)

Movies like Baahubali and RRR have introduced a new vision for portraying historic and fantasy themes in India. According to the FICCI-EY 2024 report, India now boasts the second-largest anime fan base globally and is projected to contribute 60% to the worldwide growth in anime interest in the coming years.

The National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) in Mumbai, will be modeled after the IIMs and IITs.

Loco sells majority of stake to UAE based tech company, says India not a priority

Loco has previously partnered with major publishers like Krafton, Activision, Ubisoft, and Riot Games, as well as global entities like the NBA and FIFA.

On July 17, Storyboard18 reported Loco’s failure to generate revenue using the Advertising Video On Demand (AVOD) model, which led to a significant decline in Daily Active Users (DAUs).

AVGC sector applauds govt nod for NCoE, projects $26 billion growth by 2030

The Federation of Indian Chambers of Commerce and Industry (FICCI) and the Confederation of Indian Industry (CII), representing industry bodies, will collaborate with the government in setting up the proposed Institute of Immersive Creators (IIIC).

This initiative aims to position India as a content hub, providing state-of-the-art content to enhance India’s global soft power and draw foreign investments into the media and entertainment sector.