Dream11 pivots to creator-led sports entertainment after govt ban on real-money gaming
The sports entertainment app will feature creator-led match watch-alongs, bite-sized sports moments, real-time communication between fans and creators, as well as free-to-play fantasy sports.
Dream11 is pivoting from real money-gaming to a second-screen sports entertainment platform after the government ban on real-money gaming.
A second-screen experience refers to the use of an additional device, such as a smartphone or tablet, to enhance engagement with the content being viewed on a primary screen, like a television or computer.
Dream11's sports entertainment app, which will be launched in phases, will feature creator-led match watch-alongs, bite-sized sports moments, real-time communication between fans and creators, as well as free-to-play fantasy sports.
Harsh Jain, Co-founder and CEO, Dream11 and Dream Sports, said in a statement, “No sports fan should ever watch a match alone. Now, our 250 million users can take their sports engagement to the next level with watch-alongs that enable sports creators and fans to share their raw and unfiltered emotions before, during and after every match. “
Like with other creator platforms, the majority of the firm’s revenue will go to the creators who can stream live reactions and engage with the user community. The company will charge a platform fee to support the firm’s top-line growth. The firm has onboarded 25 creators so far.
Jain said the firm will initially onboard micro and nano influencers to understand adoption before roping in the more influential creators.
“We need to know what’s working, what’s not working. Big creators come with high opportunity costs. We want to pay for it once we know users are spending money (on such content) or if they are merely engaging with it,” Jain said in a media briefing.
As the platform matures and reaches a certain scale, Dream11 hopes to open up the platform for everyone to stream, and not just creators.
Only users above the age of 18 can join the platform. The platform is currently free for users, supported by ads and in-app purchases. There are plans to launch a premium ad-free option for users later.
Creators can earn money through the 'Shout-out' feature.
The ‘Shout-out’ feature is similar to YouTube’s ‘Super Thanks’, which charges users to leave highlighted messages in the comments section. On Dream11’s new platform, users can pay for a sports query to be answered by a creator; they can also collaborate with the creator or join them on a video call with other users.
“We want to give all sports fans an opportunity to be heard and seen by millions of others. And this time, we are making it from India, for the whole world,” said Jain, in the statement.
The sports entertainment offering is a first of its kind in India, according to Jain. With this offering, Dream11 hopes to achieve the kind of growth that Amazon-owned firm Twitch achieved in the United States with interactive live streaming.
In India, most sports creators stream user reactions and commentary on YouTube. However, YouTube hosts a plethora of content across categories, noted Jain, adding that Dream11’s platform will specifically cater to users’ appetite for sports content.
The platform will feature a spot scorecard, live commentary, and live scores all integrated into the creator’s feed. The platform also promises a comprehensive interface so that users can find specific matches and creators’ live streams easily, instead of wading through all kinds of videos and searches to find the content they want to watch.
Dream11 did not have to make any additional investment on the sports streaming platform, said Jain, pointing out that the company had used the systems built over the past 17 years to create the platform.
The company also reiterated that it has enough cash runway for three to four years, brushing away any concerns regarding its financial health. In August this year, Jain had said that Dream11 would lose 95% of its revenue after the gaming ban.
Since then, Dream Sports, the parent company of Dream11, has doubled down on its streaming vertical FanCode and also ventured into financial services. Recently, Dream Sports also launched an open-source tech initiative under a new brand 'Horizon'.
Edited by Swetha Kannan