05 Jul , 2022 By : Monika Singh
Online gaming platform PokerBaazi aims to clock gross revenue of Rs 498 crore by the end of FY23, Varun Ganjoo, co-founder and marketing director told BrandWagon Online, however he declined to comment on the profit or loss for the year. The company plans to spend between Rs 78-94 crore in marketing this fiscal. Last week, PokerBaazi rolled out a 360 degree campaign featuring their brand ambassador Shahid Kapoor with an aim to establish the brand as a skill-based game. “The idea behind the campaign is to take the game to the masses by spreading awareness regarding the platform. We want to convey to the audiences that the game is under their control as it is a skill-based sport and not a game of luck,” Ganjoo stated.
Focussing mainly on digital, the company plans to divert 80-85% of its marketing spend towards the digital platform on both videos as well as banner ads. The remaining 15-20% of the marketing spend will be accounted for by the above-the-line (ATL) medium, mainly television and out-of-home (OOH). “Being a digital first brand, we believe that going digital is the key and would work in a favourable manner for us,” Ganjoo said. On television, the company plans to run its recently launched television commercial with Kapoor across sports and news channels.
For Ganjoo, it was a conscious decision to launch the marketing blitzkrieg post Indian Premier League tournament as it enables the brand to advertise in a clutter-free zone. “We wanted to grab the attention of our target audiences in a war-free zone. I think we will be able to do that right now with our brand getting good visibility,” he added.
Currently, PokerBaazi claims to have a userbase of two million players. Of this, the monthly active users (MAU) translate into a lakh per month. By the end of this fiscal, the company aims to double its userbase on the back of its marketing strategy. The platform claims to have 65-70% of retention rate.
The company also has its own IPs in the form of championship such as National Poker Series, Baazi Poker Tour, PokerBaazi MoneyMaker, Rs 10 mein 10 Lakhpati. The tourney has already completed two editions of National Poker Series. Furthermore, PokerBaazi plans to boost and create its IPs this year in order to bring more userbase onboard. According to Ganjoo, PokerBaazi’s main source of revenue is platform fee and the platform charges anywhere between 2.5-4.5% of the pool size as its fee. The company claims to have clocked Rs 249 crore as gross revenue in FY22, posting a 64% rise from the previous fiscal year. “We’ve been a profitable business since day one. However, in this phase, we want to take the game to the next level. Hence, this fiscal we will be looking at value creation and expanding this market share rather than focus on profitability,” Ganjoo said, adding that the company is in the process to raise $30-40 million worth of funds.