How does a fantasy sports app like Vision11 generate revenue? - Check Out
Fantasy sports is on a surreal rise in India. The market has grown so big in the last few years that the number of competitors in the industry are at an all-time high. Have you ever wondered, why so many fantasy apps have emerged in the recent past? What is their target audience? Is it a sustainable investment? Most importantly, where do they generate their revenue from? Well, in this blog, we will answer all your queries and clarify all your doubts regarding the fantasy sports industry.
If you are a regular fantasy sports app user, you would be aware that regular contests and free giveaways are carried out on some of the best platforms like Vision11. Now, you must be curious where the Vision11 revenue comes from or for that matter how does any platform generate revenue from? For this case study, let us consider the model of Vision11, which is the best fantasy sports app in India.
Here are some of the broad ways how revenue is generated by fantasy sports apps:
1. Participation fees for Contests: As we know, all fantasy platforms charge fees from users from playing contests. The entry fee differs based on the prize money of that contest and the number of players playing in that contest. This is a major source of revenue for the fantasy sports apps. There are hundreds of daily contests and thousands of regular users who invest money on the platform. The user base is only increasing with each passing day and so it's not a surprise that the revenue is also surging upwards.
2. Advertising and Endorsements: Advertisements and brand endorsements is one of the primary sources of revenue for fantasy apps. The platforms allow other companies to promote themselves through pop-ups and in exchange, they charge a hefty fee for it. Endorsements and sponsorships are a very sustainable source of revenue and are stable in nature. The more popular a platform is, the more the companies are willing to invest to promote themselves or their products on the platform.
3. Free Contests generate revenue in the long term: Fantasy sports is made greatly profitable by tempting users to register and stay engaged. Most fantasy platforms tempt potential users to pay for extra services by providing free leagues and contests. There are some users who are willing to try out fantasy sports but are hesitant to register and hence free contests tempt them to take this opportunity as a great chance. This is a great strategy to retain more users in the long-term and they eventually end up paying for bigger contests.
While these are some of the major sources of revenue, a decent share is also earned through brand ambassadors. We can take India's best fantasy sports app Vision11 as an example once again. Vision11 has roped in some of the top sports stars in India as their ambassadors. Some of the names include top Indian national team cricketers like Mohammed Shami, Umran Malik, Axar Patel, Venkatesh Iyer, Manish Pandey, Harshal Patel. They also have top Kabbadi stars under their umbrella like Pardeep Narwal, Maninder Singh, Rohit Kumar, Rahul Chaudhary, Siddharth Desai, Arjun Deshwal, Sachin Tanwar among others. All of these top stars are the ambassadors of their platform and they promote it on their own social media platforms like Instagram and Facebook from time to time. Due to their massive reach and popularity, Vision11 can increase their grasp to a large audience and convert prospective users into players. This is a really effective way of generating revenue in the long term.
There are various external factors which contribute to the generation of these fantasy platforms as well. In a populous country like India, generating revenue is pretty easy if you use the correct means. Cricket is worshipped as a religion here and that means a major part of the population consider themselves to be cricket experts. They are always ready to invest money in these platforms to showcase their knowledge and are confident of winning prizes. Till date, fantasy platforms have only been able to reach a partial portion of the population. So, it is obvious that there is a great scope for an increase in revenue in the near future.
Now that we have taken a detailed look at the various sources of revenue for fantasy sports apps in India, you must also know that all of these methods don't make the venture an instant success. It takes a lot of patience and tactical decisions to establish a successful fantasy sports platform. While there are hundreds of fantasy sports apps in the current market, only a few are profitable like Vision11. The Vision11 fantasy sports app is considered to be the best in India as it is very user-friendly in nature and that is one of the main reasons why it has been sustainable in the long run. Users believe in the platform and this is why they are ready to invest in contests and leagues, thereby increasing the overall revenue. Vision11 has been able to establish a very stable user-base and that has played a pivotal role in generating revenue, making it a profitable venture.