We are trying to bring the best of the Indian T-20 season to our users: Vinit Godara, Co Founder and CEO, Myteam11 Fantasy Sports
MyTeam11 is an out and out indigenous product from conceiving and investments to operations and promotions, says Vinit Godara.
India’s online gaming industry is growing at an exponential rate every year and is expected to be worth $1.1 billion by 2021. With an annual growth rate of 22.1%, fantasy sports is a booming industry in the country.
On the back of the IPL 2020 kicking in, the high engagement and popularity of fantasy sports is getting better each day. In the past two decades, the face of fantasy sports in India has changed a lot with the launch of various fantasy sports apps.
To understand how the sector is evolving and the opportunities it has for sports enthusiasts we spoke to Vinit Godara, Co Founder and CEO, Myteam11 Fantasy Sports Pvt. Ltd.
What has been the impact of Covid been on fantasy gaming?
The Covid-19 pandemic has brought in significant changes in the way the world operates. It has brought in behavioural changes in businesses and individuals like never before. Like most other industries, the Covid-19 pandemic has brought in a plethora of changes in fantasy gaming as well.
People are spending more time indoors and for many, their lives are revolving around these online apps. With more time at their disposal, online games are the go to solution for many to spend time and entertain themselves. Interestingly, even as Covid-19 pandemic brought about a major hit on league- based sports leading to a disruption in revenues, the OFS operators like us have proactively adopted strategies like introducing MyTeam11 Quiz, MyTeamRummy. We also introduced new sports such as baseball, handball and rugby and invested in platform innovation.
One of the stark features of the time of pandemic was also that fantasy gaming platforms explored new leagues and new countries as avenues for expanding the business. This helped in co-linking the demand and supply of sports on the platforms.
What are some of the new initiatives that you have undertaken?
Innovation is the bedrock on which we have built MyTeam11. Despite lack of LIVE sports impacting fantasy gaming, our first goal was to ensure that we don’t lose a huge user base during this period of time.
Hence, our first step was to diversify and expand the horizons for our users. We increased from six fantasy sports to nine with the addition of Rugby, Handball and Baseball which provided variety for our users.
Our next step was to expand from being only a fantasy gaming platform to one which has something for all kinds of users. So we launched two new offerings in the lockdown and they are MyTeam11 Quiz – first-ever, knowledge-based quiz game by a fantasy sports platform in India and MyteamRummy – a 13-card format Rummy game which kept the engagement stable on our platforms.
We also leveraged our ancillary multisport platform SportsTiger by bringing in the LIVE stream of an array of new content which included LIVE stream of multiple new leagues from smaller nations and also generating original content which included two important shows like “Cricket Talks” and “Off-the-field” which have been a major hit with the audience.
How are you leveraging IPL 2020?
The Indian T-20 season is the biggest sporting extravaganza that takes place in this country. This time it is more special as the world is going through a tough time and sport has the potential to bring positivity.
Cricket’s return in this festive season in India after a very tough and dull 7 months only speaks volumes about how every cricket fan is going to celebrate the sport like never before. To add, we believe that the festive season is going to aid the whole process.
People will be watching cricket more often than other years and this time as a family bonding activity as well. With this season not taking place in India, we are trying to bring the best of the Indian T-20 season to our users.
There is intense competition in the fantasy sports space now, how are you trying to stay ahead of the curve?
Competition will always be there. The market is growing and there will be new players entering the scene as well. Our focus is in place and we will keep on bringing the best for our customers.
Lockdown has definitely changed the dynamics of the game but innovation seems to be the differentiator and companies will need to bring that extra flavour in their offerings to make sure that they stay ahead of the curve in terms of providing unique and quality experience to their customers.
What is the way forward for MyTeam11?
It is a long process but we are certainly on the way to where we wish to be in our journey as a bootstrapped firm. Being a local player also helps us not be extravagant and helps us focus on profitability rather than trying to only acquire users.
In an industry which is as dynamic as fantasy sports it is imperative that one knows how to stay true to their ethos. While there is no harm in saying that funding helps in speeding up a number of processes and if we find an opportunity worthy enough of exploring we shall do so in due course of time.
Are tier-2 and tier-3 important markets for MyTeam11?
When we talk about the tier-2 or tier-3 markets, I feel they are the heart of MyTeam11. They comprise the majority of our users and “India Ki Apni Fantasy App” campaign to a large extent has been inspired by the kind of passionate consumers we see from these cities.
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