Latest news with #WorldAudioVisualandEntertainmentSummit
Mint
07-06-2025
- Business
- Mint
For Sai Srinivas of Mobile Premier League, the game is always on
It's easy for people to put a value to a loss they've had," says Garimella Sai Srinivas Kiran, the co-founder of gaming company M-League, which runs the Mobile Premier League (MPL). '(But) It's hard to put a value to these intangible gains, right? You only notice them in the long term. In the short term, you only see the pain." Startup founders tend to be philosophical, a by-product of betting big on a non-existent product and making it work, despite the obstacles and the body blows. The seven-year-old skill-gaming platform MPL. which has free and paid components and a portfolio of over 60 games, probably does not qualify as a startup anymore, but tends to fall into the bracket by virtue of being a tech company. M-League, which now has five companies including the Berlin-based GameDuell, has a portfolio that includes skill gaming, free-to-play games, game publishing and AAA game studio (high-budget, high-profile games). With over 220 million users across MPL and GameDuell in 32 countries, a unicorn valuation as of the last fund raise in 2021, presence in Asia, Europe, North America and Africa, and 600-odd employees, the company straddles the challenging business of skill gaming. Its revenue in FY24 was $130 million. Sai was in Mumbai in early May for the World Audio Visual and Entertainment Summit (Waves), a government-sponsored event. In the business centre of the Sofitel Hotel in Bandra Kurla Complex, close to the venue for Waves where MPL had a booth, the 37-year-old, dressed casually in a collared T-shirt, slacks and a cap, orders an Americano. He has an easy-going manner, and a dimpled boyish smile that he uses liberally. Sai is temporarily stationed in Singapore these days, where M-League is headquartered, while his co-founder Shubh Malhotra and Galactus Funware Technology Pvt Ltd, the operating entity for MPL, are based in Bengaluru. Since losing his father last year, Sai says he has started valuing his time more and separating his professional and personal identities. 'One of my core philosophies in life is anonymity. I want to focus on my business," he explains. 'I really enjoy travelling; I can travel literally 60 days with one suitcase, keep moving from one place to the other." Born in Hyderabad—his father was a deputy manager in a bank, mother a teacher in a government school—Sai's academic journey fell into two innings. He was 'not very good" in the beginning, but an inexplicable switch turned after class VI. By the time he reached the board exam stage, he wanted to study aerospace engineering. Also read: What Siddharth Roy Kapur wants: Fresh stories told in unique voices He got into IIT Kanpur which had, among other things, a dedicated leased line for fast (for those times) internet speed. However, he soon became disenchanted with the education system there and his enthusiasm for making aircraft withered away. 'For people coming from a normal background like us, the first important level of freedom we need to attain is mastery of our time," says Sai, who graduated in 2010 as one of the few in his batch without a campus placement. One of his highlights at IIT turned out to be organising the cultural festival, Antaragni, which included the music festival Synchronicity. What this first, quasi-entrepreneurial voluntary role did was to get him access to his first job, which was a brief stint as product manager with a digital company in Delhi. He was soon recruited by Zynga in Bengaluru as a game designer, though he had no such experience. 'I played a lot of games while growing up," he admits. 'My dad and I were always particular about getting new gadgets, like the Nokia 3310 and the (gaming console) Super Nintendo." Zynga, with its popular game Farmville, was going 'absolute gangbusters" at the time, which put Sai in the 'right place, right time". It also helped that he didn't like Delhi too much and moving to Bengaluru was not a challenge. The third benefit, unbeknownst to him at the time, was that the friend's place he temporarily stayed at had another roommate, Malhotra. A year-and-a-half later, Sai and Malhotra got ready with their first venture, CREO Tech. Their first product, Tewee, was a wireless HDMI dongle to stream videos over a Wi-Fi network, like the Amazon Firestick. The idea seemed to fit in at a time when streaming services were making their forays into the country. 'We were foolish enough to say let's make hardware," he says now. 'We used to download these documents in Chinese and spend days translating them and figuring out what they hacked our way to getting the product out." They sold over 50,000 units, but making hardware was challenging. Other similar products were getting into the market; the duo realised they needed to pivot. In the company of some 'smart engineers" they hired through their college network, their next venture was an Android-based operating system and smartphone, which also turned out to be an error in hindsight. 'I'll tell you the problem with making a phone and with hardware in general," he says. 'For example, let's assume I ship software and I left a bug in it. I'm just going to patch the software and I'll fix it. Life is okay, all good. With hardware, even if you make one mistake, the amount of time it's going to take to correct that mistake in the next iteration and then get it right—it's just massive." After several struggles, managing to make only a few thousand of the product Creo Mark 1, they sold the company to messenger service Hike in 2016-17. 'If a river is flowing downstream and you're standing on the bank and you see this guy on a boat going really fast, you tend to assume that it's the person rowing. But it's actually the underlying river. That's the market: If you're in the right place, right time, right market, even if you are really stupid, you'll be okay," says Sai. After going through a period of angst, when they felt like they would never work together again, Malhotra and Sai made a deal not to have friends as employees, and that 'the outcome is always more important than output". Having decided that their next turn would be in the field of online gaming, because of his experience in the field, the newly formed Galactus Funware went live with the MPL in September 2018. With about $5.5 million ( ₹36.5 crore at the time) at the get-go, a fairly large seed round, from Sequoia Capital, their ascent was rapid—a term sheet in April, an early team by May and the first prototype by July. A friends and family round by end of August leading up to the launch. By December, MPL had a million daily active users. But the challenges were continuous and constant. In May 2019, MPL was kicked out of the Play Store due to Google's developer policy (it relaxed its policy on real-money gaming last year), along with other gaming platforms like Dream11. 'We would be the only company in India's ecosystem that started, raised a lot of money, got to a million daily active users and shut its doors within the year," Sai says grinning. Then by the second half of 2019 they almost ran out of money, looking to raise a bridge round which came in the form of $90m led by Susquehanna Asia Venture Capital. '2019 for me was the most foundationally painful year. If Creo was tough from a different standpoint, this was toughness induced by my own stupidity," he says. Cricketer Virat Kohli came on board as their brand ambassador. The following year, MPL signed on with the Board of Control for Cricket in India to be the kit sponsor for the Indian team. With the pandemic, the founders had to navigate working remotely, and between 2020-21, the company went from 120 employees to 1,200, perhaps hiring too many people too fast. 'In my 10 years of doing start-ups, I believe, that is the most unpardonable mistake," he admits. As MPL went global, especially into the US in July 2021, and acquired European company GameDuell in early 2022, 'one of the smartest things to have done", it also laid off 10% of its force and shut down its Indonesia office. But the business, on the back of the pandemic-induced lockdown that catalysed the online gaming industry, grew by 50%. Just when 2023 seemed on the up, hitting 200 million users and a foray into Africa, the government in August announced a 28% GST on funds online gaming companies collect from customers. Mint had in November quoted a report by gaming-focused venture capital firm Lumikai, which had India's gaming market growing 23% year-on-year by revenue to $3.8 billion in 2023-24 despite 28% GST on online gaming. Propelled by the pandemic-induced lockdowns, online gaming is booming, despite some amount of social stigma, and some legal battles, most of which have been dismissed by the courts. 'We looked at this entire GST thing and said this is essentially the start line being redrawn," remembers Sai. MPL laid off 350 employees—half of its force—to survive the tax burden in 2023. Recovery was aided by GameDuell, which helped grow revenue more than three times. MPL started to take off in the US and Brazil, with 40% of its current revenues coming from abroad. 'It's a personal ambition that we want to build a product that stands globally," Sai explains. 'The professional ambition is that things are evolving in a developing country, so there is no certainty for a business to thrive." While MPL as a business competes with platforms like WinZO and Zupee among others, it is more comparable to Nazara Technologies, which is publicly listed. Sai, though, prefers to see his competition coming from Chinese gaming conglomerate Tencent. As he gets ready to head back to Waves, he talks about reading, spending a lot of time just being idle, really enjoying the mundane. 'One of the reasons why I enjoy living in Singapore," he says thoughtfully, 'or spending time with my partner in Dubai, is that in India, these amazing pleasures of doing your own domestic chores have been taken away thanks to the massive amount of help, which is great. But I really enjoy doing my breakfast, putting my clothes in these daily rituals." Also read: Vaibhav Kala of Aquaterra Adventures: The outdoors man
NDTV
19-05-2025
- Entertainment
- NDTV
No Points For Guessing Who Formed Kareena Kapoor's "Own Band People" After She Missed Guns N Roses Show
New Delhi: Kareena Kapoor might have missed Guns N Roses but her own "Band people" made it up. On Monday morning, Kareena Kapoor shared two pictures on her Instagram Stories, setting the Internet on fire. In the pictures, Saif Ali Khan and his elder son Taimur can be seen jamming. While Saif faces the camera, Taimur is seen seated with his back to the camera. In the first picture, Kareena Kapoor wrote, "Might have missed Guns N Roses." In the second one, "But I Got My Own Band People." For the unversed, Guns N Roses performed in India after a 12-year hiatus and in Mumbai on May 17, 2025 at the Mahalaxmi Racecourse. Kareena referred to the concert, implying she has missed the show. Earlier this month, Kareena Kapoor took part at the inaugural edition of the WAVES ( World Audio Visual and Entertainment Summit). During a conversation with Karan Johar and Vijay Deverakonda, Kareena Kapoor shared an anecdote when the Lincoln director recognised her and complimented her. "I was actually in a restaurant, I am travelling somewhere. Steven Spielberg was eating at the same restaurant. This was many moons ago, when 3 Idiots had just released. He actually came up to me and told me that, "Are you that girl who was in that very famous Indian film about three students?" I said, "Yes, that's me." He said, "My god. I loved that movie." "I didn't need to act in an English film for him to see me. He watched 3 Idiots. That's a moment for us," Kareena Kapoor said while beaming with pride. On the work front, Kareena Kapoor was last seen in the multi-starrer Singham Again. She was also seen in Crew last year.
Time of India
16-05-2025
- Entertainment
- Time of India
City students bag prize for short film in nat'l contest
Ludhiana: Young filmmakers Mahi Saluja and Rabbya Wadhwa , both from Ludhiana and students of Class IX, have won the second prize in the WAVES Young Filmmakers Challenge in the junior category. It was organised by the information and broadcasting ministry, GoI. The competition formed a key highlight of the World Audio Visual and Entertainment Summit (WAVES 2025), hosted at the Jio World Convention Centre, Mumbai. Mahi and Rabbya's thought-provoking short film on the theme of humanity and technology earned national acclaim, making it to the top 10 finalists and winning them a coveted spot in the grand finale. Jubilant on return after receiving the award in Mumbai, Mahi and Rabbya said they were surprised that the film was selected among the top 10 from entries from across the country. The award was conferred upon the finalists by L Murugan, MoS (information and broadcasting and parliamentary affairs), and veteran actor Anupam Kher. The summit was inaugurated by PM Narendra Modi, who described WAVES as "a wave of culture, creativity, and universal connectivity." Commending the young talents, Anuja Kaushal, principal of their school, BCM Arya Model School, stated, "This remarkable accomplishment showcases the creativity, expression, and innovation that our students bring to life when provided with the right opportunities. We are incredibly proud of Mahi and Rabbya for bringing national recognition and inspiring their peers.
Indian Express
16-05-2025
- Entertainment
- Indian Express
Weeks after WAVES, BMC proposes formalising construction of temporary sets of films and serials in Mumbai
The Brihanmumbai Municipal Corporation on May 16 issued a notification to amend Mumbai's Development Control and Promotion Regulations (DCPR) 2034, allowing temporary constructions of sets for films, TV serials, and advertisements in Mumbai. The civic body's move comes two weeks after Mumbai hosted the World Audio Visual and Entertainment Summit (WAVES) in a bid to position India as a global powerhouse in the fields of media and global innovation. Also, earlier this month, Chief Minister Devendra Fadnavis announced that the Centre will construct a film studio on a 240-acre plot in the Malad area of the western suburbs. Earlier in 2022, Mumbai's then municipal commissioner, Iqbal Singh Chahal, had also initiated an inquiry into the unauthorized construction of film studios at the Madh, Marve and Erangal areas in the western suburbs in Mumbai. Chahal had then stated that there were film studios being built on thousands of square metres of land that falls under the Maharashtra Coastal Zonal Management Authority (MCZMA). Later in January 2023, the civic authorities demolished 11 illegal studios in that area. The DCPR 2034 is the BMC's formal rulebook based on which the BMC will be carrying out town planning till 2034. It is based on the DCPR the civic authorities will reserve land parcels and will carry out infrastructure development. The existing DCPR will again get revised post 2034. Civic officials said that while in DCPR 2034 there was no provision of allowing temporary structures of film sets in Mumbai, the Unified Development Control and Promotion Regulations, 2020 (UDCPR) rules allowed construction of structures in Maharashtra. The UDCPR is a similar set of guidelines like DCPR which is applicable in every other city in the state other than Mumbai. 'In 2019, we (BMC) had allowed establishments of temporary structures in Mumbai's plots. However, these rules led to the construction of structures in No Development Zones (NDZ), violating the environmental rules,' a civic official said. 'The revised guidelines will formally reserve plots where such structures could be set up, so that the open spaces and available land parcels in Mumbai aren't misused. In a way, the authorities will also have a record on the number of production houses that would be using these plots for setting up film sets,' the official said. 'The absence of regulation/definition for the activity of construction of temporary studios/sets for the shooting of films/TV/serials/advertisements makes it unable to move further to permit such activities and to formulate any circular. Therefore, it is necessary to incorporate the additional activity/formation in the regulation no. 57 of DCPR 2034, titled 'Temporary Structures,' the BMC's notice states. The notice also stated that the amendment has been proposed under the Mumbai Regional Town Planning (MRTP) Act. Furthermore, the official said that operating a film set involves a slew of civic permissions like fire NOCs, and often the owners bypass these permissions as the land parcels are not formally reserved by the authorities.
The Hindu
16-05-2025
- Entertainment
- The Hindu
The big cost of watching a film on the large screen in Bengaluru
Harish Mallya, an ardent film buff from Bengaluru, concedes that his theatre visits have come down post the COVID-19 pandemic period. An engineer and a curator of world cinema for the Bengaluru International Film Festival (BIFFes), Harish had the habit of watching a film every Friday without fail for decades. In the current situation, he highlights a development that reflects the falling demand for theatre viewing. 'Earlier, I would book my seat in advance, thanks to the mad rush for tickets for marquee movies in the opening weekend. However, in the last couple of years, I have been able to get tickets at the box office of multiplexes even for the highly anticipated films across languages,' he says. There is no denying that theatres are facing their biggest test today. Factors such as the advent of streaming platforms and high-priced tickets have changed the viewing habits of the average movie-goer. In 2024, PVR Inox Ltd. shut down 85 underperforming screens. The following year, the multiplex chain decided to close 70 more properties. Similarly, single screens continue to suffer, with the total count in Karnataka coming down to 500 active screens post pandemic from 650 earlier. Bollywood star Aamir Khan delved into the issue at the recently held World Audio Visual and Entertainment Summit (WAVES) in Mumbai. Aamir, one of the canniest box-office minds, suffered a failure with his previous film Laal Singh Chaddha (2022). As he awaits his next, Sitaare Zameen Par, the actor sounded alarmed about the prospect of theatrical releases in the coming days. 'For the size of the country and the number of people living here, we have few theatres. I think we have 10,000 screens. Only 2% of the nation's population watches movies in theatres. In the U.S., which has one-third of India's population, there are 40,000 screens. China is ahead with 90,000 screens. There are districts and vast areas in India which don't have single-screen theatres. Whatever issues we have faced over the decades are about having more screens. According to me, this is what we should be investing in,' Aamir said at the event. Karnataka government proposes a cap Movie-watching, especially in multiplexes, is a costly experience. Bengaluru has remained infamous for the high-priced tickets. In this context, the State government's proposal to cap the film ticket price at ₹200 came as a ray of hope for film buffs. The March 7, 2025, announcement reminded people of a similar call from Chief Minister Siddaramaiah in his previous term, in 2017. The Multiplex Association of India (MAI) appealed against the government's decision in court and brought a stay on the order at the time. The government seems to have kept the issue in 'suspended animation', says author and film critic S. Shyam Prasad. 'The Chief Minister has aligned with the public sentiment, but I don't think market forces will allow him to implement the price cap. He has just made a populist statement,' he says. Incidentally, just two months after proposing the price cap in 2017, Siddaramaiah spent ₹1,050 to watch Baahubali 2: The Conclusion at a multiplex. An executive from a popular multiplex chain, on condition of anonymity, reveals that tickets for big films range from ₹700-₹800 in the opening weekend. The price may go up to ₹1,500 in premium screens such as Gold Class or Insignia. Bengaluru multiplexes had grabbed the eyeballs for exorbitant rates for big-star films such as KGF: Chapter 2 (maximum rate of ₹2,500), RRR (₹2,000), and Ponniyin Selvan (₹1,200). Dynamic ticket pricing The makers of such magnum opuses vouch for the special pricing of tickets as seen in the case of Pushpa 2: The December 2024, actorAllu Arjun thanked the Andhra Pradesh government for approving the ticket price hike and called it a 'progressive decision'. The Andhra Pradesh government permitted theatre owners to revise ticket rates for the first 10 days for other films, such as S.S. Rajamouli's RRR (2022) and the Ram Charan-S. Shankar film Game Changer (2025). 'Producers want to recover the money in four days or so. The opening figures matter a lot to them. They want to earn ₹100 crore to ₹150 crore on the first day. Nobody is interested in running a movie for the long term,' Gautam Dutta, CEO, revenue and Operations, PVR INOX, had said during the release of Pushpa 2: The Rule. While Tamil Nadu and Kerala have fixed ticket rates not exceeding ₹200, the Andhra Pradesh government has catered to the requests of makers of big-budget films to alter the ticket prices in the first week. This move could be problematic, as not all big films elicit positive reactions. The interest in a movie might fizzle out due to poor buzz, as family audiences might hesitate to come to cinemas unless the movie is worth experiencing on the big screen. In such cases, producers and distributors suffer losses, says M.R. Rajaram, vice-president, Karnataka Film Exhibitors Federation. 'Multiplexes, which deal in the percentage sharing system with the makers, are the biggest gainers from the price hike of tickets. They play a strong role in altering the costs,' he says, adding that single screens do not raise the ticket fare by more than ₹100 for A-lister films. Kannada filmmaker Karthik Gowda, founder of the production house KRG Studios, has been pushing for dynamic ticket pricing for the last two years. 'A film will open with a specific price, and if it gets a good response, the ticket price will increase. We at KRG Studios are discussing this with the exhibitors,' Karthik had proposed in 2023. Yogi G. Raj, co-founder of KRG Studios, says it is the way forward. 'We distributed Daredevil Musthafa,a content-oriented Kannada film from newcomers. We charged just ₹1 for the premiere. Those who came to the show loved the film and spread the word. You should treat each film differently and increase the price based on people's response,' he says. To please a price-sensitive audience, the Multiplex Association of India organises National Cinema Day frequently. On that day, tickets are priced at ₹99 for all shows. PVR INOX has also introduced a movie pass called PVR Passport, with which you can watch four films a month for ₹349. The OTT challenge Despite these changes, many people continue to watch their favourite films in the comfort of their homes as they find OTT subscriptions affordable. Amazon Prime Video offers an annual subscription at ₹1,499, while Netflix provides a monthly subscription at ₹649 with an option to share the account with four people. JioHotstar offers an ad-free annual subscription at ₹1,499. The amount is much lower for mobile subscriptions across platforms. Expensive refreshments Apart from the ticket rates, the steep prices of popcorn and other food and beverages at multiplexes have often angered the public. 'Multiplexes are selling social status instead of promoting cinema,' says Rajaram of the Karnataka Film Exhibitors Federation. A regular-sized popcorn tub costs ₹350 to ₹400, while the maximum price is around ₹600 at a multiplex. PVR Inox Ltd. continues to face the heat from audiences over the pricing of refreshments. Journalist Tridip K. Mandal posted on X (formerly Twitter) explaining why people prefer OTT platforms over theatres. '₹460 for 55 gm of cheese popcorn, ₹360 for 600 ml of Pepsi. Total ₹820 at PVR Cinemas, Noida. The expenditure is equal to the annual subscription of OTT platforms. No wonder people don't go to the cinemas anymore. Movie watching with family has just become unaffordable,' he wrote. His post went viral on social media in 2023, forcing PVR Inox to introduce the 'Bestsellar@99' offer, through which people can buy refreshments at ₹99 from Monday to Thursday for shows till 6 p.m. However, the offer comes with restrictions that vary from city to city. On the opening weekend of a big film, a family of four might spend ₹3,000 to ₹4,000 at a multiplex, including for snacks. In 2023, the Supreme Court ruled that 'multiplexes are private properties, and the owners can set the terms and conditions for entry', leading to a ban on people carrying food to theatres. 'Consumers are a small fish against big sharks like the multiplexes. The MAI makes crores annually. It's impossible to go against it in court,' notes Shyam. 'Many from the State government and MLAs are stakeholders in multiplex properties. If the revenue from multiplexes comes down, it will affect them. So, I doubt the ticket price-capping proposal will get official in Karnataka,' says Rajaram. Recently, Bollywood filmmaker Karan Johar reopened the debate by speaking about people staying away from theatres. 'Since a movie outing costs as much as ₹10,000, families do not spend that much on films, reducing their trips to the theatre,' he said at an interaction. In a public statement, MAI president Kamal Gianchandani countered Karan's observations. 'In 2023, the average ticket price (ATP) across all cinemas in India was ₹130. The country's largest cinema chain, PVR INOX, reported an ATP of ₹258 for the fiscal year 2023-24. Additionally, the average spend per head on F&B at PVR INOX during this period stood at ₹132. So, the total average expenditure for a family of four adds up to ₹1,560, significantly different from the ₹10,000 figure carried in the media reports.' He added that a film's fate depends on 'content and appeal' rather than pricing. 'Any evaluation of pricing in the cinema industry must account for the broader economics of the movie business, which involves multiple stakeholders, including producers, distributors, and exhibitors. Each of these players contributes to the final cost to consumers, with prices ultimately shaped by the market forces of demand and supply. If lowering prices could optimise revenue for everyone involved, cinema operators would naturally make those adjustments without needing to be told,' his statement read. The exorbitant rates do not matter to people who watch films occasionally, says Rajaram. 'For them, it's just an outing, and they will be willing to spend. The regular cinegoer feels he is getting ripped off by the theatres. It's a daylight robbery of film buffs,' he says. (Edited by Giridhar Narayan)
