In a major strategic shift following the devastating 2025 ban on real-money online gaming, fantasy sports giant Dream11 is reinventing itself as a comprehensive sports entertainment platform. The company, which boasts over 250 million registered users, is now setting its sights on capturing the booming 'watch party' and live streaming market in India's sports segment.
Building a 'Twitch for Sports' from India
Dream11's founders have unveiled ambitious plans to create a global interactive sports streaming hub. Harsh Jain, co-founder and CEO of Dream11 and Dream Sports, expressed strong conviction in this new direction. "We feel there is huge potential to build a 'Twitch' kind of global platform out of India in the sports segment," Jain stated, referencing the streaming platform Amazon acquired for $970 million in 2014.
Jain highlighted the immense scale of the opportunity, estimating the total addressable market (TAM) at a staggering $10 billion in revenue. He pointed out that globally, there are more than a billion sports enthusiasts who could be targeted. Calling this move a "proven playbook," Jain explained that the company is diversifying its bets to bring value to the broader sports ecosystem.
The New Platform: Free to Watch, Monetised via Engagement
The core of this pivot is a new app designed for users aged 18 and above. It will allow them to watch live matches and interact with their favourite sports influencers in real-time. While basic access to the platform will be free for all users, Dream11 plans to generate revenue through several integrated channels:
- In-built advertisements during streams.
- Paid shoutouts from influencers to users.
- Direct paid interactions with influencers.
- A premium, ad-free subscription version.
Jain detailed that the platform is engineered to deliver richer and more immersive sports experiences that complement traditional live broadcasts. Monetisation will start with small-ticket items, such as charges of ₹3 to ₹10 per user per shout-out or engagement. A significant share of this revenue will go to the influencers, with Dream11 retaining a minor platform fee.
Navigating Aftermath and Funding the Future
The strategic overhaul comes in direct response to the catastrophic impact of the real-money gaming ban. The prohibition caused Dream11's revenue to plummet by nearly 95% overnight, forcing the immediate shutdown of its paid contests. This led to the initial shift towards a free-to-play, ad-supported model for its fantasy games.
The company, last valued at $8 billion and backed by investors like Tencent, Tiger Global, and TPG, saw its robust financials take a severe hit. For the fiscal year ending March 31, 2023, Dream11 had reported revenues of approximately ₹6,384 crore and profits of ₹188 crore, figures that declined sharply post-ban.
To manage this transition, Dream11 has repurposed its workforce. Out of about 1,000 employees, 200 remain with Dream Sports, while the other 800 have been reallocated to other group businesses like Dream Money (fintech/wealth management), Dream Sports AI, and Dream Set Go. Jain emphasized a no-layoff policy for the engineering team, focusing cost-cutting on operational expenses like moving to a more affordable office.
Founded by Harsh Jain and Bhavit Seth, Dream Sports will fund this pivotal shift using internal accruals and is not currently seeking external capital. However, other businesses under the group may explore independent fundraising as needed. "We want each business to run independently," Jain concluded, underscoring a new chapter for the company built on user and employee retention in a transformed digital sports landscape.
