Asia

Nazara Technologies Ltd. – Business Update for the year ended on March 31, 2021

Published

5 years ago

April 23, 2021

Reading Time: 5 minutes

In accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 and Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information in terms of Regulation 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015, the Company would like to update on the following key business parameters on consolidated basis for the Year ended March 31^,2021

Business Overview:

Nazara is an India based, diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America.

As of March 31, 2021, Nazara has diverse business segments with revenue generation happening across gamified learning, Esports, freemium and telco subscription.

S. No.	Business Segment	Business Model	Content IP Ownership	IP Name	% Revenue Contribution FY21
1	Early learning	Gamified App for 2–6 year old kids with subscription paid by parents	Yes	Kiddopia	39%
2	Esports	Premium exclusive content / (Media rights licensing) & brand sponsorships (ads shown on the platform)	Yes	Nodwin, Sportskeeda	37%
3	Freemium	Ads & virtual items purchased within the games	Yes	WCC	4%
4	Telco Subscription Business	Players subscribing to curated game packs and payment collected through telecom operator channel	No	–	16%
5	Skill Based Real Money Gaming	Platform fee collected from the skill games played on the platform	Yes	Halaplay, Qunami	4%

Income Statement Performance: Snapshot of FY21 over FY20

Key Highlight of FY21: Delivered 84% YoY revenue growth and 470% YoY EBITDA growth

Revenue Performance: Snapshot – FY21 when compared to FY20

Nazara Technologies delivered consolidated revenue of 4,542 Mn INR (unaudited) in FY21 which is 84% growth over FY20 (2,475 Mn INR). Gamified learning and Esports segments have not only demonstrated strong growth momentum in FY21 but have also laid foundation for predictable growth on account of proven user engagement and retention KPIs in gamified learning and multiyear media licensing and game publisher agreements in case of Esports.

Segment wise revenue breakup is as follows:

Revenue INR Mn	FY21 (unaudited)	FY20 (audited)	% Growth
Gamified Learning	1,758	191*	820%
Esports	1,701	842*	102%
Freemium	195	198	(2%)
Telco Subscription	749	818	(8%)
Real Money Gaming	139	426	(67%)
Total Revenue	4,542	2,475	84%

*included from date of acquisition in the consolidated financial statement for FY20.

Consolidated EBITDA Performance: Snapshot – FY21 when compared to FY20

EBITDA including share of non-controlling interest for FY21 has witnessed 470% growth over FY20.

Particulars

FY21

(unaudited)

FY20

(audited)

EBITDA margin

12%

As Nazara is operating in high growth business segments such as gaming, gamified learning and Esports, we will continue to drive profitable growth while prioritizing growth over profit maximization at this stage so that we can achieve and maintain market leadership in the segments we operate in.

Segment wise commentary on business performance:

Gamified Learning: Kiddopia had 340,282 paying subscribers as of March 2021 which is a 172% increase in number of paying subscribers as compared to March 2020 (197,522).

LTV (Lifetime Value) – CAC (Consumer Acquisition Cost) Parameters: Cost per trial has stayed range bound between 22 USD to 26 USD in last 12 months and activation ratio from free trial to subscription has also remained around 70%. Monthly ARPU of the user has been around 6.3 – 6.4 USD and monthly churn is range bound between 4% – 6% across the months in FY21.

Esports: Esports revenues comprise of media rights licensing of own content, brands sponsorships for offline and online events, licensing fee received from game publishers for community activation and programmatic inventory selling on Sportskeeda. Esports is disrupting traditional sports worldwide and is an outcome of sports and gaming intersecting to create fast paced spectator entertainment content.

Sportskeeda witnessed 487% growth in MAU in FY21. During peak cricket season (October 2020), Sportskeeda recorded 68.44 Mn MAU up from 10.53 Mn MAU in April 2020.Sportskeeda has emerged as a leading Esports news and content destination in India.

Nodwin continued revenue growth momentum with 75% growth in FY21 over FY20. Media rights contributed to majority of the revenues in FY21 and game publishers formed second largest source of revenue wherein Nodwin partnered with them for grass route community tournaments across India. Nodwin also expanded into South Asia in FY21. Nodwin continues to be the dominant player in Esports in India with its marquee IPs like ESL India premiership, Dew Arena etc.

Free to Download (Freemium): WCC (World Cricket Championship) is the world’s largest cricket simulation game franchise on mobile and is played for ~46 minutes / day by over 15 Mn monthly active users. The Game has a very strong franchise among the midcore gamers who love virtual sports simulation genre and gets over 100,000 downloads every day organically and without any marketing spends. WCC revenues were flat in FY21 on account of drop in advertising rates in India due to COVID. We expect growth in WCC to come from in app purchases of virtual goods and WCC3 – the latest version of the game launched in July has been designed for enhancing in-app purchase conversion rates.

Scale of Daily Active Users (DAUs) of world cricket championship (WCC) is stable with few spikes seen during first phase of lockdown in April 20 and during IPL 20.
Tangible progress has been made on % conversion ratio (daily paying to daily active users (DPU/ DAU)) in FY21 via launch of WCC3. The % conversion in WCC3 has increased multi-fold to 0.08% – 0.10% as compared to 0.01% in WCC2. % Conversion in WCC3 is expected to increase further in FY22 through new product updates.

Once positive LTV/CAC equation is achieved, the company will invest aggressively in user acquisition to scale up its user base on WCC and drive profitable growth.

Telecom operator driven Subscription business declined by 8% in FY21 over FY20 primarily due to decline in India revenues in H2FY21. Nazara has acquired rights to distribute a library of premium Disney and Star Wars games based on iconic stories and characters including Star Wars, Frozen, Big Hero 6, Cars, Duck Tales, Finding Dory, Toy Story and many others in 100 countries for three years. These premium games will be distributed through Nazara’s network of telecom operators to their customer base. Under this agreement with Disney, Nazara is the only third party distributor that Disney has granted the right to create and operate Disney themed storefronts for premium Disney and Star Wars games on these telco channels.

Sports Fantasy (Real Money Skill Gaming): Sports fantasy witnessed disruption in FY21 on account of lack of live matches in first half of FY21 and regulatory turbulence triggered by legislative ordinances passed in few of the large states banning real money gaming operations. The lack of stability in the regulatory framework lead to Nazara taking strategically cautious approach in this vertical till further clarity emerges. We have therefore pivoted to a product driven growth strategy versus an aggressive customer acquisition spends led strategy and the team is focused on enhancing existing as well as bringing new product features to differentiate ourselves in this segment.

About Non-Financial GAAP measurement

We use EBITDA as supplemental financial measures. EBITDA is defined by us as net income before interest expense, income tax expense and depreciation and amortization, including share of non-controlling interest. EBITDA as used and defined by us, may not be comparable to similarly-titled measures employed by other companies and is not a measure of performance calculated in accordance with GAAP. EBITDA should not be considered in isolation or as a substitute for operating income, net income, cash flows from operating, investing and financing activities, or other income or cash flow statement data prepared in accordance with GAAP. EBITDA provide no information regarding a Company’s capital structure, borrowings, interest costs, capital expenditures and working capital movement or tax position.

These numbers have not been subjected to audit or limited review.

Asia

SA Gaming partners with EGT Digital to offer extraordinary gaming experiences

Published

10 hours ago

November 14, 2025

George Miller

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SA Gaming is delighted to announce our new partner, EGT Digital, one of the largest gaming platforms in Europe. This agreement will see our games available on EGT Digital’s platform.

This collaboration marks an important milestone for both of us as it enhances our brand visibility and allows us to reach a broader audience. This alliance is also bringing elevated gaming experience to players on the platform of EGT Digital.

As one of the fastest-growing brands in Europe, EGT Digital has an extensive network and a comprehensive product portfolio that attract a diverse player base from numerous markets around the world. As players of EGT Digital now have access to our wide range of Live Games, which are certain to attract players – this new partnership certainly fulfills the business objectives of both EGT Digital and SA Gaming.

EGT Digital’s spokesperson commented, “For us at EGT Digital, the priority number 1 is always to give our customers the best gaming experience. That is why we are very pleased to have the opportunity to offer them SA Gaming’s titles, standing out with great thematic diversity, highly engaging mechanics and captivating bonuses. We believe that this partnership will both enrich our platform and enhance the game developer’s reach, while providing players with access to the high-quality gaming content they are looking for.”

As we continue to provide top-notch entertainment, this agreement creates new room for both of us to grow and flourish. We are eager to embark on this journey together and look forward to the infinite possibilities that would deliver exceptional value to all players.

The post SA Gaming partners with EGT Digital to offer extraordinary gaming experiences appeared first on European Gaming Industry News.

Asia

Max Level wins PR & Communications mandate for LVL Zero Gaming Incubator

Published

1 day ago

November 13, 2025

George Miller

max-level-wins-pr-&-communications-mandate-for-lvl-zero-gaming-incubator

Reading Time: 2 minutes

Max Level, a leading marketing and PR agency built by gamers, has been appointed as the official PR and communications partner for LVL Zero, a first-of-its-kind incubator program spearheaded by ChimeraVC in partnership with MIXI Global Investments and Nazara Technologies. The initiative aims to accelerate the growth of early-stage gaming startups in India through a 100-day structured program combining mentorship, product acceleration and capital access.

LVL Zero offers an equity-free grant pool worth USD 100,000, open to all startups across the gaming ecosystem. Each cohort will see 10 startups receive a USD 10,000 equity-free grant. The program is designed to help startups accelerate product development through targeted mentorship, access to funding opportunities, and connections with publishing networks. Over the next five years, LVL Zero aims to empower more than 100 promising startups to build sustainable businesses and compete globally.

Speaking on the partnership, Krish Anurag, Managing Partner at ChimeraVC and Founding Partner at LVL Zero said: “LVL Zero is our commitment to catalysing the next generation of gaming founders from India and Asia. We’re thrilled to have Max Level on board as our communications partner. Their deep understanding of the gaming ecosystem, narrative expertise, and proven network within the media landscape make them the ideal agency to help us amplify this initiative and the founders who will shape the future of gaming.”

As the PR and communications partner for LVL Zero, Max Level will lead the initiative’s storytelling and thought leadership strategy, spotlighting the success stories emerging from each cohort to highlight the program’s impact on the gaming startup ecosystem. With a proven track record as the communications partner for some of India’s leading gaming and esports brands, including NODWIN Gaming, S8UL Esports, Riot Games, and CyberPowerPC India, Max Level brings deep industry insight, strategic narrative expertise, and an authentic understanding of the gaming community to help LVL Zero achieve its vision and amplify its influence across the region.

Siddharth Nayyar, Co-Founder and Chief Executive Officer at Max Level, added: “LVL Zero is an incredible incubator program for gaming startups in India, and we’re excited to help tell its story. The program is perfectly aligned with our mission to support the growth of India’s gaming and creator economy, and we look forward to driving awareness around the founders, ideas, and innovations emerging from LVL Zero’s cohorts.”

In addition to PR and communications, Max Level provides gaming and esports brands with an array of services, including campaign management, brand building, production, video editing, social media marketing, influencer programs, and consultancy. The agency’s portfolio spans leading names such as NODWIN Gaming, S8UL, Riot Games India and South Asia, CyberPowerPC India, KRAFTON, the Saudi Esports Federation, ESL FACEIT Group, The Esports World Cup, ASUS ROG, Jio Games, TVS, and HyperX, among others.

This partnership marks another milestone in Max Level’s mission to power narratives that elevate India’s gaming, esports, and tech ecosystem globally.

The post Max Level wins PR & Communications mandate for LVL Zero Gaming Incubator appeared first on European Gaming Industry News.

Absolute Sports Pvt.

Nazara’s Subsidiary Absolute Sports Enters Pickleball, Acquires Mumbai Franchise in Indian Pickleball League

Published

3 days ago

November 12, 2025

Wladimir P.

nazara’s-subsidiary-absolute-sports-enters-pickleball,-acquires-mumbai-franchise-in-indian-pickleball-league

Reading Time: 2 minutes

Absolute Sports Pvt. Ltd., a subsidiary of Nazara Technologies Limited and the parent company of Sportskeeda and Pro Football Network, has announced its entry into the fast-growing global sport of pickleball through the acquisition of the Mumbai franchise in the inaugural Indian Pickleball League.

The franchise rights agreement has been executed with PWR Indian League and Tour Private Limited, organizers of the league and strategically backed by The Times Group, one of India’s largest media conglomerates.

Pickleball is one of the world’s fastest-growing sports. Globally, the market is projected to expand from USD 1.5 billion in 2023 to USD 4.4 billion by 2033. In India, participation has surged 159% between 2019 and 2022, driven by increased adoption across sport, fitness, and community recreation centers. The launch of the Indian Pickleball League is expected to propel the sport into mainstream fan culture and open meaningful commercial opportunities across media, merchandising, and grassroots engagement.

With exclusive rights to the Mumbai territory, Absolute Sports will build and operate the team, including its digital identity, brand, website, social channels, athlete marketing, and fan engagement programs. The franchise strengthens Absolute Sports’ mission of bridging digital fandom with on-ground sporting experiences and aligns with its expansion strategy into high-growth sports ecosystems.

Ajay Pratap Singh, Director & CEO of Absolute Sports, said: “Our mission at Absolute Sports is simple, be where the fans are. Pickleball is no longer an emerging trend. It’s a global movement and is rapidly becoming a lifestyle and competitive sport in India. Securing the Mumbai franchise allows us to deeply engage with this growing community and leverage our expertise in content, storytelling, and fandom to build a team that the city can rally behind. This investment is perfectly aligned with our strategy of targeting high-engagement sports assets.”

Vineet Jain, Managing Director, The Times Group, said: “We are delighted to welcome Nazara as the owners of the Mumbai franchise in the Indian Pickleball League. Nazara has been a pioneer in gaming and digital sports entertainment, and their entry into IPBL is yet another signal of the exciting future of this sport. With their innovation-driven mindset and deep understanding of young India, we believe they will play a transformative role in shaping the league, inspiring fans, and building a strong and passionate pickleball community in Mumbai. Together, we look forward to taking the sport to new heights and creating a league that India will be proud of.”

With the Asia-Pacific region projected to be the fastest-growing pickleball market through 2029, this move positions Absolute Sports and by extension, Nazara Technologies — at the forefront of a new and rapidly scaling sports category.

The post Nazara’s Subsidiary Absolute Sports Enters Pickleball, Acquires Mumbai Franchise in Indian Pickleball League appeared first on European Gaming Industry News.