23 October, 2023, 08:00 ET
Groundbreaking Features Include "Freemium" Model Where Users Win Cash Prizes Via Both Free and Real Money Gaming
India is the World's Second Largest Gaming Market With 450 Million Casual Mobile Gamers in 2023
MUMBAI, India and TORONTO, Oct. 23, 2023 /PRNewswire/ - QYOU Media Inc., (TSXV: QYOU) (OTCQB: QYOUF) a company operating in India and the United States producing and distributing content created by social media stars and digital content creators, has announced the launch of the latest updated version of its casual mobile gaming app, Q GamesMela. The new release marks the launch of a new "freemium" capability wherein game players can win cash prizes and awards via both free and real money gaming engagements. The app is designed to allow players with a wide range of skill levels to select from a variety of game play methods including single player, multi player and tournaments. In addition, cash prizes will be awarded to winners in both the free and real money gaming contests with the opportunity to boost winnings by combining them across either form of gameplay. Games available include the addictive 2 minute gameplay of LUDO along with classic skill based games including Gin Rummy, Solitaire and Call Break.
Q GamesMela will be simultaneously launching a more extensive marketing campaign across social media and via influencer marketing. The company will be working with a variety of gaming influencers to promote the new app, including via their own owned and operated influencer marketing agency, Chtrbox. In addition, the app will be featured over the coming months on the various Q owned and operated channels in India on both broadcast and connected TV platforms.
The gaming market in India continues to be one of the fastest growing in the world. Most estimates predict nearly 450 million gamers across all platforms in 2023 with forecasts for the user base to reach 642 Million in 2027, growing at a five year CAGR of 10.1%. Much of this growth is being driven by increased smartphone penetration and availability of lower-cost smartphones, coupled with more affordable data plans. India's mobile gaming market is expected to have 4.32 billion downloads in 2023 rocketing past former global leaders including the United States and Brazil.
Curt Marvis, CEO and Co-Founder, QYOU Media, commented "When we made the acquisition of Maxamtech Digital Ventures earlier this year, Xerxes Mullan and his team were determined to get us into the market in 2023 with a first class Q branded gaming app that combined a unique set of features for both free and real money gamers. We are confident the new release of Q GamesMela marks the beginning of bringing that product to market. We all know that the gaming market in India continues to be the most dynamic of any country in the world and we feel we are in the right place at the right time with this launch. Moving forward, we will continue to add new features while leveraging our audience on Q branded TV channels and via our growing network of influencer marketing relationships. We are confident this business will begin to have a material impact on our financial performance in the quarters and years to come and could not be more thrilled with today's launch."
About QYOU Media
One of the fastest growing creator-media companies, QYOU Media operates in India and the United States producing, distributing and monetizing content created by social media influencers and digital content stars. In India, under our flagship brand, The Q and on connected TV, via channels Q Kahaniyan, Q GameX, Q Comedistaan & Sadhguru TV, we curate, produce and distribute premium content across television networks, VOD and OTT platforms, mobile phones, smart TV's and app-based platforms. In addition, QYOU has numerous additional content destinations, apps and gaming platforms engaging over 125 million Indian households weekly. Our influencer marketing company, Chtrbox, has been a pioneer in India's creator economy, leveraging data to connect brands to the right social media influencers. QGamesMela is a recently launched casual gaming business leveraging access to the large audience enjoyed by Q India products. In the United States, we power major film studios, game publishers and brands to create content and market via creators and influencers. Founded and created by industry veterans from Lionsgate, MTV, Disney and Sony, QYOU Media's millennial and Gen Z-focused content reaches more than one billion consumers around the world every month. Experience our work at www.qyoumedia.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE QYOU Media Inc.
