Latest News | Fantasy Sports Platforms Clock Rs 2,800 Cr in Gross Revenue During IPL: Redseer

New Delhi, Jul 4 (PTI) Fantasy Sports platforms clocked a gross gaming revenue of Rs 2,800 crore during the IPL 2023 season, market research and analysis firm Redseer Strategy Consultants said on Tuesday.

According to Redseer's analysis, Fantasy sports gross gaming revenue grew by 24 per cent from Rs 2,250 crore in IPL 2022, and the market has grown at a compounded annual growth rate (CAGR) of 30 per cent since IPL season 2019.

Also Read | Layoff Season Over? Hiring in India Rises 12% in January-May 2023, Manufacturing Sector Sees 50% Increase in Headcount, Says Report.

"IPL 2023 witnessed revenue of Rs 2,800 crore with about 61 million users participating on Fantasy Gaming Platforms," the report said.

Redseer said the top three Platforms captured about 96 per cent of the market share during the IPL 2023 season.

Also Read | Pakistani Rupee Appreciates by Rs 15 Against US Dollar in Early Trade.

"Platforms had an Average Revenue Per User (ARPU) of about Rs 458 during IPL 2023," the report said.

The Redseer's analysis shows that the IPL 2023 had a strong user acquisition engine, with 35 per cent of new users playing for the first time on the platforms.

The influx of new users led to an 11 per cent increase in cash users during the season, with the average spend per match of Rs 127 per user.

"The excitement of IPL also trickled into non-IPL sporting events during the season, contributing to about 13 per cent of the revenue," Redseer Partner Ujjwal Chaudhry said.

In a separate analysis, Redseer said a total of around Rs 10,000 crore was spent on advertisements during the IPL 2023.

"BCCI, Franchise, and Broadcasters earned 65 per cent of the total spend as direct revenue. The remaining 35 per cent of indirect revenue was earned as ad revenue by social media platforms, traditional media, and other internet platforms," the report said.

Fantasy Sports platforms include Dream11, My 11 Circle and My Team 11.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)