Why Did Dream11 Sponsor the IPL?

Companies running on Sports Fantasy can never be in a loss, I believe they make profit in crores on a daily basis whenever a good series is going on. Getting sponsorship of the IPL is just another great achievement for them as more and more people will join Dream11, bringing in more investments.

The Track Record of Dream11

Dream11, the popular sports fantasy app, is now the official sponsor of IPL 2020 with an average bid of Rs 234 crore per year. Literally, no one saw it coming. It is indeed surprising but should not be. This is an ideal next step for the company to take who made a fortune by fantasy cricket. I think this isn’t a temporary sponsorship and will go a long way given the organic relationship of this partnership.

This sponsorship isn't just about the immediate financial benefit; it's about branding. People will now correlate Dream11 with the IPL, and the IPL with Dream11. It's a win-win situation for both parties. Dream11 gets increased visibility and credibility, while the IPL gets valuable brand integration.

Sustaining Business Model with IPL Sponsorship

Moreover, this partnership will also help Dream11 sustain their business model against their competitors. The last season posed a challenge for them, but associating with the IPL can help them strengthen their market position. The IPL is one of the most watched sports leagues in the world, and Dream11 can leverage this to their advantage.

The sponsorship aligns with the company's strategy of expanding their user base and increasing brand awareness. It's also an opportunity for them to reach new audiences and deepen their existing customer base.

A Strategic Move by Dream11's CEO

Interestingly, the CEO of Dream11, Anuj Jain, is the son of Anand Jain, a trusted aide of Mukesh Ambani, the chairman of Reliance Industries. This connection should not be overlooked as it can play a significant role in future business ventures. It opens up more doors for Dream11 and can help them secure more partnerships and funding in the future.

Final Thoughts

I hope this explains why Dream11's sponsorship of the IPL is a strategic move. It's not just about making money; it's about building a brand that people can trust and associate with. The partnership can help Dream11 reach new heights and secure its position in the highly competitive sports fantasy market.

What do you think about Dream11's sponsorship of the IPL? Share your thoughts in the comments below!