Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 96

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 96
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 the so-called “activation keys” or “game codes” to both resellers and consumers as part of GCL Group’s concerted effort to transition from physical console game compact discs to activation keys and content. There are currently more than 7,000 game titles available on 2Game’s platform. 2Game currently has more than 570,000 registered users and approximately 55.8% of 2Game’s revenue comes from Europe, with approximately 28.6% and the remaining 15.6% from Asia and the U.S., respectively.

4Divinity is a Group Subsidiary dedicated to games publishing and game
development. Its mission is to develop game IP, invest in upcoming game titles, to publish, or co-publish with international game publishers
and content development studios, to introduce new video games and entertainment properties to Asia’s fast-growing market of gamers,
and to introduce original Asian-developed video games and entertainment content to the global market. As of today, GCL Group has either
published or co-published a total of nine game titles, five of which were published during the fiscal year of 2025 alone. While GCL Group
has yet to develop any game IP as of today, it has started extensive planning of a large scale game development project since early 2024.
It is currently expected that this first IP game development project will be in production for at least three years.

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Titan Digital Media (“ TDM”) is a Group Subsidiary specialized in creating customized and strategic marketing campaigns specific to a brand’s needs. With its in-house strategists, producers, designers, video production and marketing team, TDM is a full-service agency that connects a brand with its target audience to achieve campaign key performance indicators (“ KPIs”) and marketing goals. It has a production studio, an advertising agency, and a multi-channel network of talent. TDM currently also has two wholly-owned subsidiaries specialized in the sale of fashion jewelry, gaming chairs and related merchandise.

GCL Group is headquartered in Singapore, and has operations in Malaysia, Hong Kong, China and the U.K.

Industry Background and Market Opportunities

Based on Newzoo’s Global Games Market Report 2023 (October 2023), the global games market is projected to generate $189.0 billion in revenue in