Fantasy sports revenue to grow by 30%-35% during IPL season: Report
The revenue in the fantasy sports sector is to expected to grow by 30%-35%, or up to Rs 2,900-Rs 3,100 crore, during the current Indian Premier League (IPL) season, according to a report released by Redseer Strategy Consultants.
The real-money gaming space is also expected to see transactions grow by 25%-30%, attracting 60%-65% users from Tier II cities and beyond.
The average revenue per user is expected to reach Rs 440 per user in 2023, compared to Rs 410 last year.
IPL is the biggest sports league in India, attracting millions of viewers and peaking at 460 million during the 2019 season. The following two years were marred by the COVID-19 pandemic, delaying the sports event, which led to a fall in viewership. But fantasy sports platforms including Dream11, and Mobile Premier League (MPL), keep the viewers hooked on to their platforms during the sports season.
MyInsuranceClub to get acquired by Religare Enterprises
MyInsuranceClub, an insurance web aggregator, is in the process of getting acquired by Religare Enterprises. The diversified financial services company—which offers health insurance and loans to small enterprises, among other services—signed a purchase agreement, which is subject to regulatory approvals.
The acquisition of the insurance web aggregator will let the Religare Group expand its services in the insurance space.
“With this proposed acquisition, the Religare Group will strengthen its insurance offerings, making them available for masses. The transition of MIC will not only propel the company into the next growth phase but will also prove to be a step towards digital evolution,” Dr Rashmi Saluja, Executive Chairperson, Religare Enterprises said in a release shared by the company.
Digital growth firm ADA acquires dhiOmics
ADA acquired dhiOmics as its digital growth firm and aims to launch an AI (artificial intelligence) delivery and global data hub. Operating across South Asia and Southeast Asia, ADA’s acquisition will let the firm expand capabilities and work with global clients, according to a release shared by the company.
dhiOmics, which started in 2017 with 200 marketing analysts, data engineers and tech developers, works with brands operating across healthcare, technology, retail, and ecommerce.
After the acquisition, the hub will leverage marketing cloud, data platforms and customer engagement platforms, among other things, to service brands and enterprises aiming to increase their digital topline.
Edited by Kanishk Singh
