MAM
Vivendi-Universal launch video games
MUMBAI: New business partners duo Vivendi and Universal music have announced their foray in video games arena. The duo are launching Counter Strike: Condition Zero and Contract Jack amongst other games in India.
Although a popular culture in all parts of the world, video gaming has just recently achieved a multi-billion dollar industry status. It is expected to achieve double-digit growth and attain $29 billion by 2007, says an official release.
According to Jupiter Media Matrix’s analysis, there were 187 million gamers in 2002 and the numbers are likely to be 235 million by 2007.
In Asia, gaming on a personal computer is the fastest growing segment. More Wacraft III games have been sold in Asia than in any other region. Speaking about the Indian gaming scenario and the association, Universal Music India managing director Rajat Kakar said, “Gaming industry in India has not yet realized its potential. With our existing infrastructure and marketing sensibilities we are quite confident to grow and set new standards in this industry.”
India is seen to be the next big thing when it comes to Asian gaming, says the release. According to the IDC Asia-Pacific survey of 3,600 Internet users about 15 per cent of Indians surveyed, played games regularly. There are already an estimated fifty to seventy thousand active gamers in India, most between the ages of 15-24.
Over 30,000 gamers were registered for the Indian preliminaries of the World Cyber Games. But while the Indian market has great potential, it is highly fragmented and disorganized. Universal Music and Vivendi Universal aims to address local demands and market trends and plans to make inroads into this industry aided by marketing and distribution.
According to Vivendi Universal games South Asia regional manager Fabien Siouffi, “We are at a turning point in India. Our association with Universal Music gives all chances possible to achieve a real breakthrough of the gaming culture in India”
Games by Vivendi Universal Games includes:
Studio Existing Coming in 2004
Blizzard Entertainment Wacraft III World of Warcraft (Massive Multiplayer Online games)
Diablo II Starcraft Ghost (PS2)
Starcraft
Cocktel Adi
Adiboo Adiboo and the Paziral’s secret
Fox Interactive Hulk Van Helsing
Simpson’s Hit and Run X Files
Buffy
Knowledge Adventures JumpStart
Massive Entertainment Ground Control II
Sierra Entertainment Half Life Half Life 2
Counter Strike Counter Strike Condition Zero
Tribes Tribes Vengeance
Brands
Kotak Mahindra Bank appoints Ramesh Iyer to board
Veteran financier replaces Ashok Gulati, who retires in March
MUMBAI: Kotak Mahindra Bank has announced a change to its board of directors, with independent director Ashok Gulati set to retire at the end of his term on 5 March.
The company said it has appointed Ramesh Ganesh Iyer as an additional and independent director for a four-year term, effective 17 February, subject to shareholder approval.
Iyer brings more than four decades of experience in financial services. He spent much of his career at Mahindra & Mahindra Financial Services, where he served as vice chairman and managing director before taking on the role of president for the financial services sector and member of the group executive board at Mahindra & Mahindra. He retired from the group in April 2024.
During his tenure, Iyer was instrumental in expanding rural and inclusive finance initiatives, scaling the company’s assets and customer base. He also led the creation of subsidiaries in rural housing finance, insurance broking and asset management, and oversaw international joint ventures.
Iyer holds a commerce degree and a doctorate of letters, and currently serves on the boards of several listed and unlisted companies.
The board meeting approving the changes was held in Mumbai on February 17 between 6.30 pm and 6.50 pm.
