Title: It’s a Knockout Punch, Lost 95% Revenue & 100% Profits: Dream11 CEO on Real Money-Gaming Ban
The sudden ban on real-money gaming in India has sent shockwaves across the industry, with many companies scrambling to adapt to the new reality. Among the most affected is Dream11, a leading fantasy sports platform that has been hit hard by the government’s decision. In an exclusive interview with Moneycontrol, Dream11 Co-Founder and CEO Harsh Jain spoke candidly about the impact of the ban, calling it a “knockout punch” that has left his company reeling.
However, despite the devastating blow, Jain remains “a delusional optimist”, insisting that Dream11 is not “dead” and that the company will continue to work on its future. But the reality is that the ban has dealt a crushing blow to Dream11’s financials, with Jain revealing that the company has lost a staggering 95% of its revenue and 100% of its profits.
The ban, which was announced in May, has left many in the industry wondering how they will survive in the short term. For Dream11, the stakes are particularly high, given that its business model was heavily reliant on real-money gaming. Jain acknowledged as much, stating that “95% of our group’s revenue…and basically 100% of…profit was coming from Dream 11’s current business model.”
Despite the dire circumstances, Jain remains committed to the future of Dream11. He emphasized that the company is already working on new initiatives and strategies to adapt to the changing landscape. “We’re going to work on…future. But yes, we’ve lost 95% of our revenue…and basically 100% of…profit was coming from Dream 11’s current business model,” he said.
It’s clear that Jain is determined to keep Dream11 afloat, even in the face of such a devastating blow. However, the road ahead will be challenging, to say the least. The company will need to find new ways to generate revenue and profits, all while navigating the complex regulatory landscape.
One potential avenue for Dream11 is to shift its focus to non-real-money gaming, such as fantasy sports that don’t involve betting. While this may not be as lucrative as the company’s current business model, it could help Dream11 to maintain a foothold in the market and allow it to continue to grow and evolve.
Another option could be for Dream11 to explore new markets or territories where real-money gaming is still permitted. This could involve expanding into international markets or exploring new opportunities in India, such as e-sports or other forms of online gaming.
Of course, there are no guarantees of success, and the future of Dream11 remains uncertain. However, Jain’s determination and optimism are a beacon of hope for the company and its employees. As he said, “I’m a delusional optimist. I believe that we will find a way to come out of this.”
The Dream11 CEO’s comments also highlight the broader impact of the real-money gaming ban on the industry as a whole. Many companies, large and small, are struggling to adapt to the new reality, and it’s unclear what the long-term consequences will be.
For now, Dream11 is focused on finding a way to survive and thrive in a rapidly changing landscape. While the road ahead will be challenging, Jain’s determination and optimism suggest that the company will continue to play a major role in the world of fantasy sports and online gaming.
