It’s a Knockout Punch, Lost 95% Revenue & 100% Profits: Dream11 CEO on Real Money-Gaming Ban
In a recent interview, Harsh Jain, Co-Founder and CEO of Dream11, spoke candidly about the impact of the government’s ban on real-money gaming on his company. The ban, which was implemented in September 2020, has had a devastating effect on the company’s revenue and profits. In the interview, Jain described the ban as a “knockout punch”, but also expressed his optimism about the company’s future.
Dream11, one of India’s most popular fantasy sports platforms, had been thriving before the ban. The company had been generating significant revenue and profits from its real-money gaming platform. However, with the ban in place, the company has lost a substantial portion of its revenue and profits. Jain revealed that 95% of the company’s revenue and 100% of its profits were generated from its real-money gaming platform.
Despite the significant losses, Jain remained optimistic about the company’s future. He stated that the company will focus on developing new business models and exploring new opportunities to grow. While the ban has dealt a significant blow to the company, Jain believes that Dream11 is not “dead”. Instead, the company will adapt and evolve to overcome the challenges posed by the ban.
Jain’s optimism is not unfounded. Despite the losses, Dream11 still has a strong brand and a large user base. The company has been investing heavily in research and development, and has a team of experienced professionals who are working on new products and services. Additionally, the company has been exploring new markets and opportunities, including the development of new games and the expansion of its services to new regions.
The ban on real-money gaming has been a major setback for the company, but Jain believes that it also presents an opportunity for growth and innovation. He stated that the company will use the ban as a chance to refocus and rebuild, and to develop new products and services that are more sustainable and profitable.
Jain’s views on the ban are not unique. Many industry experts have been calling for a more nuanced approach to regulating the online gaming industry. The ban on real-money gaming has been criticized for being overly broad and for targeting all forms of online gaming, rather than just those that are problematic.
The ban has also had a significant impact on the company’s employees. Jain stated that the company has been working to support its employees during this difficult time, and has been exploring new opportunities for them. The company has also been investing in employee development and training, and has been working to create a positive and supportive work environment.
In conclusion, the ban on real-money gaming has been a major setback for Dream11, but the company is not giving up. Instead, Jain and his team are working to adapt and evolve, and to develop new products and services that are more sustainable and profitable. The company’s optimism and resilience are a testament to its strength and determination, and bode well for its future.
