Tech: Esports Mogul aims for the 400m-strong Indian gamer network with new partnership deal
Online gaming platform Esports Mogul (ASX:ESH) has partnered up to help drive its push into the Indian market.
The agreement is with Critical X, an esports organisation platform based in India.
Esports said the deal would give it access to Critical X’s network of 5 million gamers, which runs tournaments and partners with other esports platforms in the local market.
Shares in Esports Mogul ticked higher on the back of the announcement to 1.2c, just shy of recent highs reached when the company announced that Canva co-founder Cameron Adams had joined the board.
More broadly, Esports said its partnership deal marked the first step in the company’s push to access the huge Indian market, which is estimated to have around 400 million mobile gamers and generates more than $US2 billion ($2.9 billion) in revenue.
Under the terms of the deal, Critical X will help launch Esports Mogul’s Branded Hub platform in India, giving users priority registration access to exclusive tournaments and raffles.
Esports will retain 80 per cent of the revenue from all subscription signups, and 20 per cent of revenue from sponsorship and advertising.
Stockhead has contacted the company for comment about whether it expects to generate material revenues from the agreement in 2020.
It’s not the first tie-up for Esports and Critical X, which have worked together previously to run free tournaments on the Mogul platform including Dota and Tekken.
Esports has also integrated its platform with Paytm — the leading payment gateway in the Indian market — in order to facilitate payments in local currency.
Mogul’s chief marketing officer Mark Warburton said access to the Indian market and the succesful integration with Paytm were both “key milestones” for the group.
“We’re excited to work alongside Critical X to develop their subscription and tournament series, expand their fan base and also attract more gamers in the region to the Mogul platform,” he said.
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