Versus Systems to Allow Prizing in India
April 13 2021 - 7:00AM
Versus Systems Inc. (“Versus” or the “Company”) (Nasdaq: VS)
(FRANKFURT: BMVB) today announced that it has added new
functionality to its patented Dynamic Regulatory Compliance prizing
engine to support uses in India, which is one of the largest and
fastest growing markets in the world for entertainment and gaming
content and mobile phone use. Versus will be partnering with some
of its existing content partners to launch in India within the next
60 days.
With a population of nearly 1.4 billion, India
is the largest market in the world for film production, the third
largest market for mobile phone use, and one of the fastest growing
markets in the world for smart phone adoption. Combining one of the
world’s largest markets with a massive user base and rapid mobile
growth promises to be an excellent opportunity for the Versus
prizing platform, as well as the new Versus XEO platform that
allows users to win real-world prizes while watching media, sports,
games, and live events on TV, PCs or mobile.
According to the advertising technology firm
InMobi, 45% of India’s mobile users started playing games on their
smartphones during the COVID pandemic and 84% of the committed
gamers said that they game for at least an hour in a single
sitting. India is among the top five mobile gaming markets in the
world, accounting for about 13% of total game sessions globally.1
The country’s gaming user base crossed 365 million in March 2020.2
Its online gaming industry is expected to grow at a CAGR of 40% to
$2.8 billion by 2022, up from $1.1 billion in 2019, as stated in a
Deloitte India report published earlier this year.3
In addition to filmed entertainment and
interactive gaming, India’s sports market is also large and
growing. Cricket is the most popular televised sport in India4; in
2020, the Indian Premier League was watched by 405 million viewers
for a total of 400 billion viewing minutes, a 23% increase over
2019, according to BARC India.5
By expanding into India, Versus will leverage
its gaming and second-screen expertise to provide unique prizing
solutions for brands and content partners looking to engage with
this audience across multiple screens and live events.
"India is one of the most attractive markets in
the world for so many reasons,” said Matthew Pierce, Versus’ CEO.
“Its enormous and relatively young population, highly developed
sports and entertainment markets and rapid adoption of smartphones
make it an ideal market for content creators and brands that want
to add prizing and interactive engagement for their audiences."
About Versus Systems
Versus Systems Inc. has developed a proprietary
in-game prizing and promotions engine that allows publishers,
developers, and creators of games, apps, and other interactive
media content to offer real world prizes inside their content.
Players, viewers and users can choose from among the offered prizes
and then complete in-game or in-app challenges to win the prizes.
The Versus platform can be integrated into mobile, console, and PC
games, as well as streaming media and mobile apps. For more
information, please visit www.versussystems.com or
visit the official Versus Systems YouTube
channel.
Investor contact:Sean McGowan,
Cody Slach Gateway Investor
Relations949-574-3860VS@gatewayir.comorpress@versussystems.com
Disclaimer for Forward-Looking
Information
This news release contains certain
forward-looking information and forward-looking statements within
the meaning of the applicable Canadian securities legislation. All
statements, other than statements of historical fact, are forward
looking statements and are based on expectations, estimates and
projections as at the date of this news release. Any statement that
involves discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions, future events
or performance (often but not always using phrases such as
"expects", or "does not expect", "is expected", "anticipates" or
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and phrases or stating that certain actions, events or results
"may" or "could", "would", "might" or "will" be taken to occur or
be achieved) are not statements of historical fact and may be
forward looking statements. These forward-looking statements are
based on reasonable assumptions and estimates of management of the
Company at the time such statements were made. Actual future
results may differ materially as forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
Company to materially differ from any future results, performance
or achievements expressed or implied by such forward-looking
statements. Although the forward-looking statements contained in
this news release are based upon what management of the Company
believes, or believed at the time, to be reasonable assumptions,
the Company cannot assure shareholders that actual results will be
consistent with such forward-looking statements, as there may be
other factors that cause results not to be as anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking statements and information. There can
be no assurance that forward-looking information, or the material
factors or assumptions used to develop such forward-looking
information, will prove to be accurate. The Company does not
undertake any obligations to release publicly any revisions for
updating any voluntary forward-looking statements, except as
required by applicable law.
_________________________
1 IndiaTimes, “About 45% Indians Started Mobile Gaming In 2020,
Due to Pandemic Lockdown”2 KPMG Media and Entertainment Report,
20203 Deloitte India, 20204 Statista, “Share of televised sports
viewership across India in 2019” 5 BARC India, 2020
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