Dream11 posts 37% surge in ad spends
Fanatsy gaming company Dream11’s parent Dream Sports posted a 66.2% surge in its revenue in FY’23, declaring Rs 6,384 crores as its revenue from operations, as compared to Rs 3,840 crores in FY’22. In the same period, the company’s profit grew from Rs 141 crores to Rs 187 crores, registering a 32.6% growth. The platform fees received from the users for participating in the contest, also known as Gross Gaming Revenue (GGR), was the sole source of revenue for the fantasy gaming platform in FY23. This stood at Rs 3,801 crores in FY’22, and surged to Rs 6,191 crores in FY’23. Having been a key sponsor of the Indian Premier League in the past, Dream11 has spent considerably on the promotional front. Its consolidated report, sourced from Tofler, stated that its overall advertising promotional expenses increased from Rs 2,158 crores in FY '22 to Rs 2,964 crores in FY’23, posting a 37.3% growth in ad spends. Breaking it down further, the report showed that expenses centric to advertisement and sponsorships were Rs 1,798 crores in FY '22 and increased by 31% to Rs 2,356 crores in FY’23. The fantasy gaming platform rolled out campaigns featuring MS Dhoni, Aamir Khan, R Madhavan, Sharman Joshi and more known names from the industry, last year. The gaming unicorn’s expenditure towards employee benefit expenses surged to Rs 1,154 crore in FY’23 from Rs 497 crore in the previous fiscal year. The start-up spent Rs 452 crore for salaries and wages, whereas its other employee-related expenses stood at Rs 629 crore in FY’23.
Tags : Advertising Dream11 Dream Sports Fantasy Gaming Company