DREAM11 CEO EYES GROWTH IN INDIA’S DOMESTIC MARKET

Harsh Jain, the co-founder and CEO of Dream11, made a clear statement at the Startup Mahakumbh event in New Delhi, revealing the company's unwavering focus on India's domestic market and their lack of intentions to expand globally. As reported by Business Standard, Jain highlighted the unique advantages of catering to the Indian market, one of the largest and most promising in the world.

FOCUS ON INDIA: THE STRATEGIC ADVANTAGE

Jain’s position on not pursuing international markets was simple yet profound: “We have a very unique advantage. We have a domestic market which is one-sixth of the world’s population. As an Indian, you have [an advantage],” Jain emphasized. This insight reflects his strategic approach, seeing India’s vast and youthful demographic as an untapped opportunity for growth.

Dream11 is one of India’s top unicorn companies, valued at over $1 billion, alongside fellow giants Games24x7 and Mobile Premier League. By staying focused on India, Jain believes Dream11 can continue to grow and solidify its leadership in the domestic fantasy gaming industry, which remains a relatively new but rapidly expanding sector.

INDIA'S DEMOGRAPHIC AND TECHNOLOGICAL ADVANTAGE

Jain is optimistic about India’s demographic and technological edge. As the country with the world’s largest young population, India presents a vast consumer base for Dream11’s services. He also pointed to the Indian government’s push for technological innovation, which has created a favorable environment for companies like Dream11 to thrive. “We must take advantage of this opportunity,” Jain said, urging businesses to capitalize on India’s technological and demographic advantages.

SIGNIFICANT GROWTH WITHIN INDIA

Dream11’s user base is a testament to the platform’s success within India’s borders. The platform currently boasts approximately 220 million users in India, with an impressive 55 million new users added in the past year alone. Despite restricting its platform to Indian users, Dream11 has seen substantial growth, especially among those from smaller towns and cities. Jain pointed out that only 28% of Dream11 users come from Tier-I and Tier-II cities, while the majority are from smaller towns, highlighting the platform’s broad appeal across the country.

CHALLENGES IN THE REGULATORY ENVIRONMENT

Despite Dream11’s rapid growth, Jain acknowledged the challenges faced by real-money gaming platforms in India. These challenges include regulatory hurdles, such as the recent imposition of a 28% goods and services tax (GST) on online gaming platforms. However, Jain remains optimistic about the future, expressing confidence that these obstacles can be navigated, especially given the sector's rapid expansion and India’s growing interest in sports and gaming.

LEVERAGING ARTIFICIAL INTELLIGENCE (AI)

Dream11 is also embracing technological advancements to enhance its platform. One area of focus for the company is artificial intelligence (AI), particularly in the realm of sports analytics. Jain explained that sports provide a rich data environment, making it an ideal area to apply AI technologies. “Sports is an area where we can use AI because the availability of sports data is good,” Jain remarked.

To take advantage of this opportunity, Dream11 has partnered with Columbia University in the United States to establish an innovation center. The center is focused on machine learning and reinforcement learning, with the goal of improving the fantasy sports experience. AI will be used in several ways, including team selection assistance, statistical analysis, and news filtering, helping users make better-informed decisions and enhancing the overall user experience.

THE GROWING INDIAN FANTASY SPORTS INDUSTRY

The Indian fantasy sports industry has been experiencing impressive growth, as evidenced by the 31% revenue increase, which reached Rs. 6,800 crore in FY22. According to the Federation of Indian Fantasy Sports and Deloitte India, the sector is valued at approximately Rs. 75,000 crore and is projected to expand significantly. An estimated 180 million users are expected to participate across over 300 fantasy sports platforms in India.

Jain’s strategy of focusing exclusively on the Indian market aligns with this growth trajectory. By continuing to serve this massive and rapidly expanding market, Dream11 aims to solidify its position as the leading fantasy sports platform in India, without the need to venture into global markets.

CONCLUSION: DREAM11’S FUTURE IN INDIA

Dream11's future looks bright as it continues to expand within the domestic market. With a large user base, strong growth potential, and strategic investments in AI and technological innovation, Dream11 is poised to remain at the forefront of India’s booming fantasy sports sector. As the company leverages India’s demographic advantages and navigates the evolving regulatory landscape, it is well-positioned to capture even more of the Indian market in the years to come. —register today