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Mridul Das
Introvert!ย โขย 9m
Just look into Dream11's succes๐ An $8 billion ๐ต Empire .Founded in 2008 by Harsh Jain and Bhavit Sheth. It was the first company in India to introduce fantasy sports. In 2021, Dream11's parent company, Dream Sports raised $840๐ณ million๐ณ in a funding round. The company reported revenue of โน6,384๐ฅ crore for the year ended March 31,2023 with profit of INR188 cr. ($22million ๐ต) , as against โน3,840 crore in the year-ago period.(2024 numbera are not available as of now) How Does Dream11 Make Money?๐ Dream11 makes money by keeping 15% of the entrance fees collected from the contests as a โplatform fee.โ The remaining 85% is distributed among the winners. This way, Dream11 can make a profit while still offering attractive cash prizes to the users.( that's genius strategy ๐ฅ) They have been able to capture 42.2% of revenue in the fantasy gaming market. A major reason for this has been its marketing strategy. Dream11โs IPL campaigns have contributed to high visibility and recall, and this year too, the campaign โTeam Se Bada Kuch Nahiโ has broken the clutter. Vikrant Mudaliar, the man helming marketing at Dream Sports, speaks about the platformโs relationship with IPL.
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