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Mobile Premier League (MPL) parent company M-League’s revenue climbed 22 per cent to $130 million in FY24. The company has also achieved break even with an Adjusted EBITDA of $0.2 million despite absorbing headwinds associated with higher GST rates in the India operations of M-League.
M-League’s portfolio includes Mobile Premier League (MPL) and GameDuell, which is the fastest growing card & board game studio in Europe.
The company’s India revenues went up by 35 per cent to $88 million for FY 2023-24, it said in its statement. Both gross gaming revenues (GGR) and the number of cash-paying monthly active users for MPL have increased by nearly 60 per cent during the same period.
“We focused on innovation, streamlined processes to reduce costs, and accelerated time to market for new games,” the company stated.
The company recorded FY24 adjusted EBITDA of $0.2 million, 100 per cent improvement over FY23 that had a negative Adjusted EBITDA of $44.7 million.
On GameDuell, the company said “When M-League acquired GameDuell in 2022, it was primarily a web-based skill gaming company. Over the past two years, we have invested in transforming GameDuell into a cross-platform experience spanning web, and mobile, with a strong focus on Free-to-Play. GameDuell has seen a 50 per cent revenue growth since acquisition. Today, close to 70 per cent of its revenue is generated from Free-to-Play games.”
Product expansion
Looking ahead, M-League plans to expand its product offerings. The company said “Our success with GameDuell has strengthened our confidence in the Free-to-Play model.we believe that Free to Play (F2P) represents the next big opportunity. The F2P market in India is on the same level that skill gaming was in 2018 when MPL started”
“In 2024-25, we will make significant strides in free-to-play gaming in India while reinforcing our leadership in skill gaming. We believe we’ve only begun to tap into M-League’s potential as a global gaming powerhouse. Our vision is to position M-League as the go-to platform for gaming worldwide, starting from India,” the company added.
