Nextwave Multimedia to rollout out World Cricket Championship 3; looks to earn 50% revenue via IAP

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Updated: Jul 15, 2020 3:08 PM

As of now, in-app advertisements account for nearly 85% of the company’s revenue with IAP accounting for the remaining 15%

The company runs an online game called World Cricket Championship 3 which currently has 2.5 million - 3 million daily active users.The company runs an online game called World Cricket Championship 3 which currently has 2.5 million – 3 million daily active users.

A subsidiary of Nazara Technologies, Nextwave Multimedia is a mobile game publisher which develops casual and multi-player games in the sports genre. The company runs an online game called World Cricket Championship 3 which currently has 2.5 million – 3 million daily active users (DAU) aims to register 10 million DAU in 1.5 years. “Despite being in early beta-testing mode, WCC3 crossed three million downloads in 50 days,” PR Rajendran, co-founder and CEO, Nextwave Multimedia Pvt. Ltd told BrandWagon Online. It plans to roll-out the upgraded version of the game in mid-August.

The company aims to earn 50% of its revenue from in-app advertising and the remaining 50% from In-app purchase models (IAP). Rajendran claims that WCC 3 has already registered 5x growth in IAP when compared to WCC 2, “The Indian gaming industry is heavily dependent on in-app advertisement monetisation model. With the industry witnessing a drop in advertising every year, it is becoming a huge challenge for us to find funds for additional growth,” he added.

As of now, in-app advertisements account for nearly 85% of the company’s revenue with IAP accounting for the remaining 15%. However, Rajendran added, the conversion rate of paying customers in India remains low despite the rise in online gamers. In India, only less than 5% gamers opt for payment mode. Hence, out of three million DAUs, less than 150,000 users go for in-app purchases. This is the predominant reason behind the online gaming industry’s dependence on in-app advertisement models. For Rajendran, the money earned from IAP goes into brand building.

As for advertising, the company stated that it either focuses on creating and broadening brand awareness or it opts for a hybrid model which creates brand awareness as well as indulge in a targeted advertisement. “We don’t have a set marketing model. For instance, sometimes we run a campaign for a set of users who are more likely to buy IAP. Sometimes we broadly launch brand campaigns with the intention to create awareness,” he elaborated.

The upgraded version of the game will feature the new career mode which will have a cricket season sprawling across three brackets, 25 series, and more than 400 matches with a built-in challenging performance decision system which determines user ranking your rise in ranks starting from a local club to the national or international level, claims the online gaming firm.

Read Also: FICCI Frames: Why the government needs to work with the gaming industry

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