MyTeam11 claims to have recorded a two-fold rise in registered user base during IPL
MyTeam11 claims to have registered Rs 27 crore in revenue in FY20 and expects to break-even by FY22.
The recently concluded season of the Indian Premier League (IPL) saw many new categories including edtech, fantasy sports, among others advertising — add to that the fact this year the title sponsorship was picked up by Dream11. According to industry estimates, nearly 60% of the advertisements on STAR Sports, the official broadcasters of IPL, were by fantasy games platforms. Jaipur based fantasy sports company MyTeam11 is one of the online sports companies which cashed in on the opportunity. The fantasy sports company which ran a multi-platform campaign during IPL featuring seven brand ambassadors, claims to have increased its marketing spend by 3.5 times. “In the current financial year, we have increased marketing spends to Rs 28-30 crore with an aim to target the tier 2 and tier 3 cities,” Vinit Godara, co-founder and CEO, MyTeam11 told BrandWagon Online.
According to Godara, MyTeam 11 saw a two-fold rise in registered user base during IPL. “We saw a 3-3.5x rise in the number of participants this IPL vis-a-vis last year’s IPL. Similarly, we’ve seen a 3x increment in monthly active users -during IPL months,” Godara added. The company claims to have a registered user base of 15 million and of that nearly 60-65% translates into monthly active users (MAUs). Further, of the total MAU, about 30-35% converts into daily active users (DAU).
Furthermore, Godara claims that MyTeamRummy – the company’s real money platform launched in April 2020 registered 50,000- 70,000 MAUs during IPL. “We launched MyTeamRummy as we wanted to move into the online sports space faster during the lockdown. The lockdown period was a tremendous opportunity for us to gain traction. While the MAU in the initial months were over two thousand, the user base has increased tremendously during IPL,” he said, adding that the company has also launched MyTeamPoker.
As per the company, MyTeam11’s platform fee, which remains its major source of revenue, ranges between 15-18%. However, it can fluctuate to 10% in case of private contests or increase to 20% for some of the high value contests. While MyTeam11 also has a streaming platform SportsTiger which has over a million downloads and slew of original content, for the platform majority of its revenue comes from the fee. “Through SportsTiger we were able to explore revenue from advertisements. However, platform fee accounts for nearly 99% of our revenue,” he stated.
According to the business intelligence firm, Tofler, MyTeam11 clocked Rs 8 crore in revenue in FY19. The company claims to have registered Rs 27 crore in revenue in FY20 and expects to break-even by FY22. While Godara didn’t provide a revenue estimate for FY21, he claimed that the company expects to see a rise in revenue this fiscal vis-a-vis last fiscal. “Due to newly introduced products like MyTeamRummy and MyTeamPoker coupled with Quiz offerings and 40% growth in Indian T20 League revenue forecasts, we expect the losses to be in the range of 10% as compared to the last year,” he said.