PL Stock Update - Nazara's Esports

PL Stock Update – Nazara’s Esports – *Jinesh Joshi – Research Analyst, Prabhudas Lilladher Pvt Ltd*

Nazara’s Esports subsidiary, Nodwin, will be launching season-2 of BGMI Master Series from 04 Aug.

Brief details about the tournament are as follows: -

Number of teams: 24

Prize pool: Rs2.1crs

Digital broadcaster: Rooter

TV broadcaster: Star Sports

Commentary options: Hindi, English and Tamil

Our view: This is the second time when BGMI Master Series will be aired on TV in partnership with Star Sports. First season had garnered good response (36mn viewers over the course of the tournament) and viewership expectation from second season will be even higher as BGMI recently made a comeback to India (inquisitiveness to watch will be high as the game has made a comeback after a ban of 10 months).

Esports, as a concept, is very nascent in India. TV broadcasting will not only help increase popularity of ESports as the medium has wide reach but also boost media rights licensing revenue of Nazara. Retain BUY on the stock with a TP of Rs804.subsidiary, Nodwin, will be launching season-2 of BGMI Master Series from 04 Aug.

Brief details about the tournament are as follows: -

Number of teams: 24

Prize pool: Rs2.1crs

Digital broadcaster: Rooter

TV broadcaster: Star Sports

Commentary options: Hindi, English and Tamil

Our view: This is the second time when BGMI Master Series will be aired on TV in partnership with Star Sports. First season had garnered good response (36mn viewers over the course of the tournament) and viewership expectation from second season will be even higher as BGMI recently made a comeback to India (inquisitiveness to watch will be high as the game has made a comeback after a ban of 10 months).

Esports, as a concept, is very nascent in India. TV broadcasting will not only help increase popularity of ESports as the medium has wide reach but also boost media rights licensing revenue of Nazara. Retain BUY on the stock with a TP of Rs804.