Thursday, 9 December, 2021

Gaming apps on rise in Bangladesh

Gaming apps on rise in Bangladesh

Bangladesh has emerged as emerging hub for gaming app development as local companies catch earn foreign currencies and investment as well.

In a recent assessment, local developer Ulka Games claimed the present size of Bangladeshi gaming market is nearly 50 million US dollar which can be multiply to 10 times with $ 500 million in next five years.

There are roughly 2.5 billion active gamers in the $ 80 billion mobile gaming business that play a range of mobile games on a regular basis, official data shows.

Bangladesh is the eighth most populous country on the planet, and its teenagers and young people make it an important market for video games around the world. Moonfrog Labs, India's biggest mobile game developer, ventured in Bangladesh in 2019 and created Ulka Games Limited as a subsidiary.

Steelfront Group, a mobile game developer located in Sweden, recently purchased a cent percent ownership in Moonfrog Labs of India and their Bangladesh partner Ulka Games Limited for roughly Tk 7.5 billion. Ulka Games Limited became Bangladesh's first international grade mobile gaming firm as a result of this.

Bangladeshi businesses have been working tirelessly on their own initiative over the past few years to capture this massive market. However, our contribution to the prospective market is just roughly 50-60 million dollars, or less than 1 percent.

Meanwhile, Moonfrog Labs and Meteor Games Limited's games such as Ludo Club, Tin Patti Gold, Adda, Carrom, and others have grown extremely famous around the world. In total, over 180 million games have been downloaded around the world. Another well-known game studio in Bangladesh is Alpha Potato.

Rise Up Labs CEO Ershadul Hoque said the advertising, subscriptions, and in-app purchases are how gaming studios make money while arious types of adverts generate a particular amount of money during the game.

“Furthermore, most mobile games include a virtual marketplace. This store allows players to buy virtual goods or subscriptions to improve their gaming experience. This is the part of the game where the most money is made. The more popular a game becomes, the more virtual goods or subscriptions it sells,” he said.

According to Ershadul, the game industry offers a lot of job and income options. Policies are now critical in moving the industry forward. I'm hoping the government will take action.

Ulka Games CEO Zamilur Rashid said the locally made games are currently being earned through online and offline distribution.

"The majority of this revenue comes from game adverts, subscriptions, and in-app purchases. Domestic publicly traded enterprises pay the government VAT on this income. Ulka Games paid the government a total of Tk 49.8 million in value added tax in the fiscal year 2019-2020," he said.