A joint venture between a Reliance Industries (RIL) unit and European esports company BLAST is expected to stir up and intensify competition in the fast growing esports space, currently dominated by the likes of KRAFTON, Nazara-owned Nodwin Gaming and Jetsynthesys' Skyesports, experts said.
RIL subsidiary RISE Worldwide Ltd (RISE) and BLAST Esports Ltd (BLAST), a wholly-owned unit of Denmark-based BLAST ApS, last week announced a JV to conduct esports business in India.
Industry executives expect new game titles, new teams, new sponsors and massive spends in organising offline and online esports tournaments, entailing prize pools as high as Rs 2.5 crore.
“The Indian gaming industry is currently over-dependent on 2-3 titles to drive economics, and needs an urgent makeover,” said Rohit Agarwal, founder and director of gaming marketing agency Alpha Zegus. “With BLAST, that does seem highly likely. If all goes well, we will have new titles, new teams, new representation, new jobs, new sponsors and a massive international boost.”
He added that BLAST is the best tournament organiser in the world with immense experience, resources and network to create and drive new esports titles in India.
India is the fastest growing gaming market with a base of 600 million gamers (18% of global). The gaming market is projected to reach $9.2 billion by 2029 from $3.8 billion in 2024, as per RISE estimates.
The professional esports or e-gaming industry in India, which is different from other forms of real-money or casual gaming, was nearly a $40 million (Rs 333 crore) market in FY23 and is expected to scale up to $100 million by FY28, according to a study by venture capital firm Lumikai.
In 2024, prize money disbursement in esports tournaments surpassed Rs 30-35 crore, the biggest ever annual spend across online and offline. Tournament organisers such as KRAFTON, for the first time, generated Rs 25 lakh in revenue at its BGIS event in Hyderabad, monetising esports local area network (LAN) events, which have been operating in the red until now, ET previously reported.
As per industry estimates, the budget for a sizable esports LAN event in India is Rs 12-16 crore, which is on a par with music concerts and cultural fests.
BLAST, which works with the world’s biggest game publishers like Epic Games, Valve, Riot Games, KRAFTON and Ubisoft, is expected to take the industry one notch higher, said industry executives.
“BLAST events are forecast to generate over 2 billion views in 2025. That coupled with JioHotsar’s reach in India will unlock new advertising opportunities for global brands who want to associate with the esports fanbase in India,” an executive close to the alliance said.
The first edition of Esports World Cup in September 2024 had a reach of 10.5 million in India and a total consumption of 64 million minutes watched, Star Sports had told ET previously.
RIL subsidiary RISE Worldwide Ltd (RISE) and BLAST Esports Ltd (BLAST), a wholly-owned unit of Denmark-based BLAST ApS, last week announced a JV to conduct esports business in India.
Industry executives expect new game titles, new teams, new sponsors and massive spends in organising offline and online esports tournaments, entailing prize pools as high as Rs 2.5 crore.
“The Indian gaming industry is currently over-dependent on 2-3 titles to drive economics, and needs an urgent makeover,” said Rohit Agarwal, founder and director of gaming marketing agency Alpha Zegus. “With BLAST, that does seem highly likely. If all goes well, we will have new titles, new teams, new representation, new jobs, new sponsors and a massive international boost.”
He added that BLAST is the best tournament organiser in the world with immense experience, resources and network to create and drive new esports titles in India.
India is the fastest growing gaming market with a base of 600 million gamers (18% of global). The gaming market is projected to reach $9.2 billion by 2029 from $3.8 billion in 2024, as per RISE estimates.
The professional esports or e-gaming industry in India, which is different from other forms of real-money or casual gaming, was nearly a $40 million (Rs 333 crore) market in FY23 and is expected to scale up to $100 million by FY28, according to a study by venture capital firm Lumikai.
In 2024, prize money disbursement in esports tournaments surpassed Rs 30-35 crore, the biggest ever annual spend across online and offline. Tournament organisers such as KRAFTON, for the first time, generated Rs 25 lakh in revenue at its BGIS event in Hyderabad, monetising esports local area network (LAN) events, which have been operating in the red until now, ET previously reported.
As per industry estimates, the budget for a sizable esports LAN event in India is Rs 12-16 crore, which is on a par with music concerts and cultural fests.
BLAST, which works with the world’s biggest game publishers like Epic Games, Valve, Riot Games, KRAFTON and Ubisoft, is expected to take the industry one notch higher, said industry executives.
“BLAST events are forecast to generate over 2 billion views in 2025. That coupled with JioHotsar’s reach in India will unlock new advertising opportunities for global brands who want to associate with the esports fanbase in India,” an executive close to the alliance said.
The first edition of Esports World Cup in September 2024 had a reach of 10.5 million in India and a total consumption of 64 million minutes watched, Star Sports had told ET previously.
You may also like
Key sectors facing cyber threats from deepfakes, AI-generated content: Report
Paris fire: Dramatic pictures show huge flames in French capital as smoke fills sky
Masked gang linked to Dubai gangster parade supercars through housing estate
Trisha Goddard's health battle with terminal cancer and how she'll manage in CBB house
6-year-old tortured, raped, killed in Durg; body stuffed in car
