QYOU Media's Maxamtech Gaming Named Top Ten of 2023 By Silicon India
Leading US-India Publication Tracking Technology Entrepreneurship Recognizes India's Most Promising Emerging Businesses
Breakthrough Gaming App Q GamesMela Tops 137,000 New Registered Users in Most Recent Week
MUMBAI, India and TORONTO, Dec. 18, 2023 /CNW/ - QYOU Media Inc., (TSXV: QYOU) (OTCQB: QYOUF) a company operating in India and the United States producing and distributing content created by social media stars and digital content creators, has announced that its gaming division, Maxamtech Digital Ventures, has been recognized by leading publisher, Silicon India, as one of the Top Ten India Gaming companies of 2023. Silicon India's (https://www.siliconindia.com/) special StartUp City issue annually tracks the leading business achievements of a broad spectrum of technology driven categories with Maxamtech being recognized on the cover of their latest issue featuring the top India gaming businesses of 2023 (https://startup.siliconindia.com/magazines/2023/) The publication recognized both the historical backgrounds of founders Xerxes Mullan and Sundeep Thusu along with their impressive development of industry leading tech features driving the recent entry of Q GamesMela into the market. Q GamesMela was praised by the editors of SiliconIndia for many of the groundbreaking features it is bringing to market that combine gaming and e-commerce…a feature being described increasingly as "g-commerce" or gaming commerce. Last week Q GamesMela had its largest single week of downloads to date generating a weekly total of over 137,000 downloads.
SiliconIndia has tracked the US-INDIA technology boom and provided the most relevant and critical content for this ecosystem by documenting stories of burgeoning entrepreneurs, outstanding technologists, and accomplished CEOs, along with business analysis and opinions specifically impacting business and technology in India and the U.S. The publication has become a default platform for entrepreneurs with its editorial coverage of some of the most powerful and promising entrepreneurs from the community over the years, such as Satya Nadella, Ajay Banga, Sundar Pichai, Shantanu Narayen, and Kenneth Kannappan. The first edition of SiliconIndia was launched on the 15th of August, 1997 from NYC. In the following year, another office was opened in Silicon Valley, and today, editions are published from both the U.S. and India.
QYOU Media acquired a majority ownership stake in Maxamtech Digital Ventures in January of 2023. Since that time, Maxamtech has pivoted out of its previous business of providing B to B to C gaming services to large corporate partners and focused its efforts on the launch of the direct-to-consumer free and real money gaming app Q GamesMela. Leveraging the massive weekly viewership of over 125 million young Indians found weekly on QYOU branded content channels, along with a unique "Freemium model" which combines free play with Real Money Gaming (RMG), the platform has garnered a strong level of traction, converting initial registrations at a lower Customer Acquisition Cost (CAC) as compared to much of the competition.
The Indian mobile gaming ecosystem continues to experience a dramatic upsurge of growth with the country poised to surpass 1 billion internet users by 2025, accompanied by an estimated 820 million smartphone users within the next two years. A recent report by the All India Gaming Federation (AIGF) underscores this trend, highlighting the substantial increase in the number of Indian gamers, largely attributed to the burgeoning smartphone-based internet user base.*
Curt Marvis, CEO and Co-Founder, QYOU Media, commented "We are thrilled that our team at Maxamtech has received this much deserved recognition from Silicon India. The ability to combine the deep experience and technological vision in the mobile gaming industry of Maxamtech with the direct reach to a large and growing audience of over 125 million viewers every week enjoyed by Q branded channels in India is the cornerstone of our belief that this will become a major growth business for QYOU Media and its shareholders. It is gratifying to see third party acknowledgment of our unique positioning in the market as we continue to experience strong early adoption and engagement of Q GamesMela. At the end of the day, gaining more loyal and engaged users is what this is all about!"
One of the fastest growing creator-media companies, QYOU Media operates in India and the United States producing, distributing and monetizing content created by social media influencers and digital content stars. In India, under our flagship brand, The Q and on connected TV, via channels Q Kahaniyan, Q GameX, Q Comedistaan, Sadhguru TV and Bollywood Hungama we curate, produce and distribute premium content across television networks, VOD and OTT platforms, mobile phones, smart TV's and app-based platforms. In addition, QYOU has numerous additional content destinations, apps and gaming platforms engaging over 125 million Indian households weekly. Our influencer marketing company, Chtrbox, has been a pioneer in India's creator economy, leveraging data to connect brands to the right social media influencers. QGamesMela is a recently launched casual gaming business leveraging access to the large audience enjoyed by Q India products. In the United States, we power major film studios, game publishers and brands social media marketing efforts on TikTok, Instagram and YouTube via custom content creation, media and creators/influencers. Founded and created by industry veterans from Lionsgate, MTV, Disney and Sony, QYOU Media's millennial and Gen Z-focused content reaches more than one billion consumers around the world every month. Experience our work at www.qyoumedia.com
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SOURCE QYOU Media Inc.
Investor Relations Contact: Dave Gentry, RedChip Companies Inc., 1-800-RED-CHIP (733-2447), [email protected]; Source: QYOU Media Inc., Contact: Doug Barker, 213-564-0007
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