It's raining offers on Samsung smartphones at this year's Amazon Great Indian Festival. Bring home the smartphone of your dreams this festive season as Samsung announces the biggest discounts of the year on its best-selling smartphone models.
Loco hits stride in game livestreaming as Indian market comes back
22.09.2023 - 13:57 / venturebeat.com
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Loco, an independent esports and live streaming platform, has become the largest game streaming platform in India.
The Mumbai, India-based company did so by focusing on mobile games, which are more popular than console or PC games in India. And now it’s getting a surge in game viewership because two of the biggest games — Battlegrounds Mobile India and Free Fire — have returned to the market after a hiatus.
Loco has become similar to the Twitch of India, with a focus on streaming game videos and airing esports content, said Anirudh Pandita, cofounder of Loco, in an interview with GamesBeat. The company was founded in 2017 by Pandita and Ashwin Suresh, and it now has more than 150 people.
And India isn’t a bad place to be for this kind of thing. India became the world’s most populous nation in 2023 and it also held its position as the fastest-growing games market in Asia, according to a report by market researcher Niko Partners.
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Total gamers in India are forecasted to surge 343% in the 10 years between 2017 and 2027, climbing to 641.2 million in 2027. Video games revenue is forecast to increase 21% YoY in 2023 to $868 million, according to the 2023 Niko Partners India Games Market report. Niko said the number of gamers in India across all platforms is set to reach 444 million in 2023. About 31% of those gamers will spend money on video games this year, with revenue rising 21% to $868 million in 2023.
Loco is growing with the local market. Back in March 2022, the company had around 5.3 million monthly active users with about 450,000 logging in every day.
Loco’s numbers are now pretty impressive. It has 60 million registered users who watch 20 million monthly hours on the game-streaming platform. It has a 65% share of the daily active users, better than market leader Twitch. It has 600,000 creators, and the average time spent watching live content on the app is 60 minutes a day.
Early on, the company raised $9 million. Then last year it raised $42 million, with Makers Fund leading the way. That round was encouraging, and Pandita said he has seen more investor activity in the Indian game market now.
Recently, some good news has dropped. The Supreme Court of India ruled in
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