Despite over 18 esports organizations shutting down in India this year, Global Esports (GE) has become the country’s first profitable esports organization. GE’s revenue has quadrupled, with projections for a threefold increase by 2026.
While other organizations, such as Carnival Gaming, ceased operations within a year, and GE even dismantled its Battlegrounds Mobile India roster, GE’s success is attributed to its partnership with Riot Games through the VCT Partnership Program. This partnership has significantly boosted revenue through various streams like in-game skins, stickers, and league stipends.
Dr. Rushindra Sinha, CEO of Global Esports, stated that despite the rising costs, their global expansion and monetization strategies have contributed to profitability. For FY 2024, GE’s cash revenue is around $2 million, with a strong year-over-year growth expected, especially with their new VCT roster.
The Indian esports sector is projected to grow from $40 million in 2022 to $140 million by 2027, driven by rising player numbers and the success of major games like Valorant and BGMI. GE’s success, despite challenges in the industry, signals a potential revival of esports in India.