Nazara’s Nitish Mittersain on new publishing division, Nikhil Kamath & GST on online money gaming
Nitish Mittersain, Founder, Joint MD & CEO, Nazara Tech, says “the online money gaming business is today just 4% of our revenues and is impacted due to the new GST taxation rules that came in from October 1st but we expect that business to recover and stabilise in the next couple of months. More importantly from Nazara perspective, getting clarity on taxation was a very important thing. I think that has largely been achieved.” Start by telling us a little bit more about this plan to launch the new game publishing division. How revenue accretive do you believe it is going to be?
Nazara Publishing, which is a new initiative of Nazara, is basically meant for the game developers who are trying to bring high quality games across platforms such as mobile, PC, even new technologies such as Web3 and VR.
These developers usually require some assistance, one, in terms of capital but also assistance around game design, quality assurance, user acquisition and general mentorship. There has been a lack of a platform that can provide this kind of support to developers, especially in India and I think that is where Nazara is stepping in with investments of at least one crore for each developer and we are hoping that in the next 18 months we will at least back 20 developers on this front.
The other thing that I wanted to understand was what about the overall investment in this platform and what is it that you will bring on to the table for the developers?
We have not allocated a specific amount towards this.
It is going to be off our balance sheet and as you know, Nazara is quite well capitalised. So, depending on the momentum and the opportunities that we get the amount of investments can be significant.
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