Dream Sports-promoted digital sports destination FanCode, the parent company of Dream11, is looking at a transaction-led revenue model to grow its business. The philosophy behind a transaction-led model is to provide consumers with flexibility by not pressuring them to accept long-term subscriptions. Created by Yannick Colaco and Prasana Krishnan, veterans of the sports industry, FanCode is still in the early stages of monetization.
Krishnan cited a Bundesliga example where football fans have the chance to watch a single match. We give fans a chance to subscribe to a series or an opportunity to subscribe to an individual match in the Bundesliga. He said that the concept is to take the price barrier out of the minds of customers. In less than two years, FanCode has already reached 20 million downloads. In attracting users, being part of Dream11 has played a major role. Via Dream11 and FanCode, our biggest strength is that we are a product and technology company. We have tech teams and in-house product development. Tech is where we make our maximum investment.
The platform is also betting big on commerce, aside from the content. The FanCode Shop was launched on the platform to allow sports fans to purchase official merchandise at an affordable price. In both the production and distribution of fan gear, FanCode Shop aims to use technology to innovate and offer fast turnaround times.
One of the things that content does is introduce fans of sports to the web. What we are trying to do is have access to official merchandise for fans. In India, sports products have a peculiar issue where you either have the high-priced and out-of-reach top end of the market or alternatively full of fakes. We carry official merchandise at a reasonable price,’ explained Krishnan.
The FanCode Shop has collaborated with six IPL teams for IPL 2020 to sell official merchandise – Delhi Capitals, Sunrisers Hyderabad, Mumbai Indians, Chennai Super Kings, Rajasthan Royals, and Kings XI Punjab. To create brand loyalty, FanCode will concentrate on customer service and personalization. New Zealand Cricket (NZC) and Amazon Prime Video have recently collaborated with FanCode to stream all NZC international matches in India for the current season