**Dream Sports Confirms No Layoffs Amid Shift to Free-to-Play Games**
Dream Sports co-founder Harsh Jain has assured that the company will not implement layoffs, despite Dream11’s transition to free-to-play games following the recent government ban on money-based online gaming. Jain emphasized that the company has a robust internal demand for talent across various platforms and sufficient cash reserves to maintain operations for several years.
In an interview, Jain stated, “We’re not interested in doing any layoffs. All the talent here is safe. We are focused on building with this talent to navigate through this challenging period. The only way to address the loss of 95 percent of our revenue is to innovate and create new products that can be monetized in the future, and that begins with our talented workforce.”
On August 22, Dream11 halted all paid contests on its fantasy sports platform, shifting its focus entirely to free-to-play online social games. This strategic move was prompted by India’s new gaming law, which prohibits online money games where players deposit funds to win prizes. The report highlighted that 95 percent of the company’s revenue and all profits were derived from these cash-based contests, which are now deemed illegal. Jain remarked, “95 percent of Dream11’s revenues have disappeared overnight, and 100 percent of our profits…”
**Strong Demand for Talent**
Jain noted that Dream Sports continues to experience strong internal demand for talent across its various business segments, including the sports content and commerce platform FanCode, the sports experiences platform DreamSetGo, the mobile game development unit Dream Game Studios, and the fintech venture Dream Money. There is also a growing need for new products that the company plans to develop in the future.
The Mumbai-based company has ample cash reserves to support its workforce and operations for several years, which Jain considers more than adequate. For the fiscal year 2023, Dream Sports reported operational revenue of ₹6,384.49 crore, a significant increase from ₹3,841 crore in FY22.
**Future Focus on AI and Sports Opportunities**
Looking ahead, Dream Sports aims to concentrate its efforts on sports-related opportunities in India, leveraging artificial intelligence (AI) with a particular focus on the creator economy. Jain explained, “We have sports content, commerce, fan engagement, analytics, sports performance, and merchandise. All of this is going to be disrupted by AI. Now, I have 500 engineers whom I can allocate to solving these problems. We will start again to address these challenges for Indian sports fans.”
In conclusion, Dream Sports is committed to navigating the current landscape by focusing on innovation and talent development, ensuring that the company remains resilient in the face of regulatory changes.
**FAQ**
**Q: What prompted Dream11 to shift to free-to-play games?**
A: The shift was prompted by India’s new gaming law, which bans online money games where players deposit money to win prizes, leading Dream11 to suspend all paid contests.