My11Circle experiencing strong user & revenue growth with IPL partnership: Saroj Panigrahi
Mumbai-based multi-gaming platform Games24x7, which operates fantasy sports platform My11circle and rummy platform RummyCircle, entered the coveted unicorn club in March 2022. It was the second-most valued startup in the space, followed by Dream 11. My11Circle has this year displaced Dream11 to become the official fantasy sports partner of the Indian Premier League (IPL) for the next five years. This marks a strategic move aimed at disrupting the market and solidifying its position as a key player in the online gaming industry. My11Circle aims to capitalize on the immense popularity and widespread appeal of IPL, leveraging this partnership to enhance brand visibility and engagement, Saroj Panigrahi, COO of Games24x7, told e4m in an interview. Excerpts: My11Circle has signed a five-year deal with the IPL to become the official new fantasy sports partner by displacing Dream11. What does it mean for you? Our partnership with TATA IPL as the official associate partner marks a significant milestone for us, underscoring our commitment to elevate the player experience and foster a deeper connection with cricket enthusiasts across the country. This partnership is part of our strategic investments in the My11Circle platform, aimed at offering players additional avenues to engage with the IPL and showcase their skills. We have also been the title sponsors for Lucknow Super Giants since 2022, and our association with the team has been very effective in leveraging the IPL season. Our partnership with BCCI provides us with a platform for sustained engagement with cricket fans, allowing us to continuously innovate and solidify our position as a trusted name in the fantasy sports landscape. My11circle is amongst the fastest growing players in the fantasy sports space. We are experiencing very strong user and revenue growth and are confident about the immense headroom for growth in the near to medium term. Walk us through your IPL campaign. Which ad agency is executing them? Our IPL campaign titled 'My11Circle pe ek crore toh bas shuruwaat hai, socho..kitni badi baat hai!', promises to spark curiosity and elevate the thrill for users, making the largest celebrated cricket tournament more engaging for them. This new brand campaign invites cricket fans to delve deeper into the performances of their selected players, enriching their connection with the sport and enhancing their experience. With brand ambassadors such as Saurav Ganguly, Shubman Gill, Arshdeep Singh, Mohammed Siraj, Ruturaj Gaikwad, alongside recent additions Rinku Singh and Yashasvi Jaiswal, the campaign encapsulates the excitement that defines the spirit of cricket. We've collaborated with The Script Room creative agency to conceptualize and script our ads, ensuring that every aspect of our campaign reflects the magnitude of rewards awaiting our users. What are your marketing plans around the IPL? In addition to our captivating campaign, our marketing strategy for IPL adopts a 360-degree approach aimed at maximizing reach and engagement with our target audience. We ensure visibility on TV through Star Sports, OTT platforms like Jio Cinema, and performance platforms such as Google, META, and their affiliates. Our partnerships with influencers further amplify our brand's presence, allowing us to connect with users on platforms where they are most active. Moreover, our collaboration with JioCinema as the presenting sponsor of "Jeeto Dhan Dhana Dhan" adds another layer of excitement to our marketing strategy providing fans with an additional avenue to engage with the tournament and win exciting prizes. Who are your user growth targets for this year? We've seen a great response and a substantial increase in teams created on My11Circle in just the very initial days of IPL. A little over halfway through the tournament, My11Circle has witnessed many players turning fantasy cricket passion into real-life rewards. As compared to last year, a staggering 50% more winners walked away with mega prizes. This growth is fuelled by a 4x increase in reward categories as compared to the last edition on the platform. Additionally, our goal is not just to attract new users but also to provide our existing players with more reasons to stay engaged and excited about fantasy sports. Through innovative campaigns and user-centric initiatives, we are committed to fostering a community where every cricket enthusiast feels valued and empowered to participate in the excitement of IPL and beyond. What are your ROI expectations from the IPL? The TATA IPL is a hotspot for fan engagement, and My11Circle is at the forefront. Our strategic partnership with the TATA IPL aims to enhance our brand presence and capitalize on the enthusiasm surrounding cricket in India. It's a top priority for our marketing efforts and nearly half of our marketing spends is focused around the IPL. As the official fantasy sports partner of IPL 2024, the principal sponsor of Lucknow Super Giants, and backed by a stellar roster of established and up-and-coming stars as our Brand Ambassadors, we are in a good space to engage with our audiences across multiple touch points. Moreover, our association with TATA IPL is about amplifying the brand; we are in it for the long term. The proof is in the numbers! We've seen over 50 percent increase in teams created on My11Circle in just the first two weeks of IPL. The year 2023 was tough for most gaming firms due to regulations coming in place and change in tax regime and imposition of retrospective taxes. How has it impacted your marketing strategy? While the past year witnessed significant regulatory developments in the online gaming industry, it presented clarity and an opportunity for companies to reboot and re-innovate. Now, more than ever, it's crucial for the industry to engage more with users. Our marketing initiatives are designed to keep users engaged throughout the IPL, rewarding their cricketing knowledge and skills. By prioritizing user experience and hyper-personalizing our offerings to meet their needs, we aim to strengthen our bond with our users and enhance their overall fantasy sports experience.
Tags : Saroj Panigrahi Ipl My11Circle Games24X7