FIFS-KPMG Report Says There Are 90 Million Fantasy Sports Users in Country
A report conducted by the Federation of Indian Fantasy Sports (FIFS) in collaboration with global professional services firm KPMG has revealed the strength of the fantasy sports industry in India.
Titled 'Business of Fantasy Sports', the study explores the growth, impact, and future of fantasy sports in the county. Major finding includes:
The industry has been growing at a rapid pace registering a 212% CAGR in the user base between 2016-19. There are 90 million users as of December 2019.
15-20% of the active users on online fantasy sports (OFS) platforms are paid-users.
30-40% of users play OFS on more than one platform.
The number of OFS operators foraying into different sports has increased from 10 in 2016 to over 140 in 2019.
The top four-five operators account for 95% of the market share.
The OFS market had a total Contest Entry Amount (CEA) of over Rs 6,000 Crores in FY19. This is estimated to more than double to Rs 16,500 Crores in FY20, at a growth rate of 167% over FY19-FY20.
OFS operators generated a revenue of Rs 924 Crores in FY19, up from Rs 262 crore in FY18. This was estimated to almost triple to Rs 2,500 crore by FY20.
65% of survey respondents indicated sports was among the top three genres they watched on TV and streaming platforms.
16% of the OFS users mentioned that their motive of watching sports leagues was to track the performance of their fantasy teams so that they can make informed choices.
55% of the users mentioned that their engagement with sports leagues increased once they started playing OFS.
The COVID-19 pandemic has hit live sports. But many operators were quick to adapt to the situation - particularly the loss of IPL cricket - by offering new games like baseball and
adding quizzes and other products to retain and engage users.
"Proliferation of new sports leagues and entry of OFS operators into other sports has reduced the share of cricket as a % Contest Entry Amount (CEA) from 95% in 2016 to 85% in 2019. This reduces the platforms' dependence on a single sport and its associated seasonality", the report stated.
We reported last week how
fantasy sports had thrived under lockdown, with 5 million users engaged between April and June as sporting competitions began to start again across the world.