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Why Dream11's Business Model is so successful?

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Dream11’s Company Overview


ream11, founded in 2008 by Harsh Jain and Bhavit Sheth, is a leading fantasy sports platform based in India. The platform allows users to create virtual teams by selecting real players from upcoming sports events and compete against each other based on the players' actual on-field performances. Dream11 has become immensely popular for its innovative approach to sports engagement, providing users with an interactive and immersive fantasy sports experience across cricket, football, basketball, kabaddi, and more. Dream11 is a fantasy sports platform based in India that allows users to play fantasy cricket, hockey, football, kabaddi, and basketball. Dream11 is India’s Biggest Sports Gaming platform with 2 crore+ users playing Fantasy Cricket, Football, Kabaddi & NBA. It is a Game of Skill that offers Indian sports fans a platform to showcase their sports knowledge. Fans can create their own team made up of real-life players from upcoming matches, score points based on their on-field performance, and compete with other fans. Winners are then rewarded with cash prizes the next day after the match. The business model of Dream11 primarily revolves around a freemium model. Users can sign up and participate in fantasy sports contests for free, creating their virtual teams and competing for points. Dream11 generates revenue through paid contests, where users can join contests with an entry fee to compete for higher cash prizes. The company also collaborates with sports leagues and teams, securing partnerships and sponsorships that contribute to its overall revenue. Additionally, Dream11 offers various promotional activities, referral programs, and loyalty bonuses to enhance user engagement and expand its user base. The platform's success is attributed to its user-friendly interface, innovative gaming concepts, and the thrill it brings to sports enthusiasts by allowing them to engage with their favorite sports uniquely and interactively.

https://www.dream11.com/

Country: Maharashtra

Foundations date: 2008

Type: Private

Sector: Information & Media

Categories: Gaming


Dream11’s Customer Needs


Social impact:

Life changing: self-actualization

Emotional: fun/entertainment, rewards me, badge value, nostalgia

Functional: makes money, reduces risk, organizes, reduces effort, avoids hassles, reduces cost, quality, variety, sensory appeal, informs


Dream11’s Related Competitors



Dream11’s Business Operations


Credits:

A credit arrangement is when a consumer purchases items on credit (without paying cash) and spends the provider later. Typically, trade credit is extended for a certain number of days after the products are delivered. These credits may be deducted from one's tax liability.

Customer loyalty:

Customer loyalty is a very successful business strategy. It entails giving consumers value that extends beyond the product or service itself. It is often provided through incentive-based programs such as member discounts, coupons, birthday discounts, and points. Today, most businesses have some kind of incentive-based programs, such as American Airlines, which rewards customers with points for each trip they take with them.

Freemium:

Freemium is the sum of the words free and premium and refers to a business strategy that provides both free and premium services. The freemium business model works by providing essential services for free and charging for enhanced or extra capabilities. This is a typical practice among many software firms, who offer imperative software for free with restricted functionality, and it is also a popular approach among game developers. While everyone is invited to play the game for free, extra lives and unique game features are accessible only once the player buys.

Online marketplace:

An online marketplace (or online e-commerce marketplace) is a kind of e-commerce website in which product or service information is supplied by various third parties or, in some instances, the brand itself, while the marketplace operator handles transactions. Additionally, this pattern encompasses peer-to-peer (P2P) e-commerce between businesses or people. By and large, since marketplaces aggregate goods from a diverse range of suppliers, the variety and availability are typically greater than in vendor-specific online retail shops. Additionally, pricing might be more competitive.

Platform as a Service (PaaS):

Platform as a Service (PaaS) is a class of cloud computing services that enable users to create, operate, and manage apps without the burden of establishing and maintaining the infrastructure usually involved with designing and developing an app.

Referral:

Referral marketing is a technique for acquiring new consumers by advertising goods or services through recommendations or ordinary word of mouth. While these recommendations often occur spontaneously, companies may influence this via the use of suitable tactics. Referral marketing is a technique for increasing referrals through word of mouth, arguably the oldest and most trusted kind of marketing. This may be done by incentivizing and rewarding consumers. A diverse range of other contacts to suggest goods and services from consumer and business-to-business companies, both online and offline.

Two-sided market:

Two-sided marketplaces, also called two-sided networks, are commercial platforms featuring two different user groups that mutually profit from the web. A multi-sided platform is an organization that generates value mainly via the facilitation of direct contacts between two (or more) distinct kinds of connected consumers (MSP). A two-sided market enables interactions between many interdependent consumer groups. The platform's value grows as more groups or individual members of each group use it. For example, eBay is a marketplace that links buyers and sellers. Google connects advertising and searchers. Social media platforms such as Twitter and Facebook are also bidirectional, linking consumers and marketers.

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