Riot
Company
Documents about Riot
Too Many Video Games, but Maybe Also Too Few
Major video game publishers are increasingly adopting a strategy of releasing fewer titles to prioritize quality and focus resources on core projects.
- Major publishers including Riot Games and Square Enix are shifting strategies to release fewer titles, aiming to concentrate resources on higher-quality projects rather than a broad portfolio of mid-tier games.
- Riot Games is shutting down its Riot Forge publishing label as part of a broader restructuring that includes laying off 530 employees, representing 11% of its total workforce.
- The video game industry has seen 3,800 layoffs in January 2024 alone, already exceeding one-third of the total job losses recorded throughout 2023.
Riot Games Cuts 530 Jobs From Global Workforce
Riot Games announced a significant restructuring in January 2024, resulting in the elimination of 530 positions, which represents approximately 11% of its global workforce.
- Riot Games is laying off 530 employees, representing 11% of its total global workforce.
- The company is shifting its strategic focus toward its core titles: League of Legends, Valorant, Wild Rift, and Teamfight Tactics.
- Riot Forge will cease new game development after the release of 'Bandle Tale: A League of Legends Story', abandoning the original plan to produce six games.
Esports and Gaming Marketing Veterans Launch Bright Up Agency
Industry veterans Dominic Müller and Marco Niemann have launched Bright Up Agency, a new marketing firm focused on bridging the gap between brands and the esports and gaming sectors.
- Industry veterans Dominic Müller and Marco Niemann have launched Bright Up Agency, a new firm focused on connecting brands with the gaming and esports ecosystem.
- The agency is supported by I3 Holding, the parent company of entities including Eintracht Spandau and influencer marketing agency INSTINCT3, which provides administrative and operational backing.
- Bright Up Agency aims to act as an intermediary between rights holders in entertainment and gaming and both endemic and non-endemic brands, emphasizing transparent and independent advisory services.
Riot Reveals Global Esports Partnership With HP-Owned Brands
Riot Games has entered into a significant global technology partnership with HP, specifically leveraging the OMEN by HP and HyperX brands.
- Riot Games has signed a global technology partnership with HP, designating OMEN by HP and HyperX as official partners for its esports ecosystem.
- The partnership covers three major titles: League of Legends, the Valorant Champions Tour (VCT), and Teamfight Tactics.
- The agreement excludes Riot Games' Wild Rift esports program.
Riot Games Extends LEC Deal With KitKat to 2026
Riot Games Europe has secured a three-year extension of its partnership with the confectionery brand KitKat, ensuring the company remains a primary sponsor for its European esports ecosystem through 2026.
- Riot Games has extended its partnership with KitKat for the League of Legends EMEA Championship (LEC), EMEA Masters, and European Regional Leagues through 2026.
- The multi-year agreement continues a partnership that first began in 2020, though the specific financial terms of the extension were not disclosed.
- KitKat will maintain prominent marketing placement during official competitions, including branding during technical pauses branded as 'Have a Break' and during Champions Select phases.
Chengdu to Host 2024 League of Legends Mid-Season Invitational
The 2024 League of Legends Mid-Season Invitational (MSI) is scheduled to take place in Chengdu, China, from May 1 to May 19, 2024.
- Riot Games will host the 2024 League of Legends Mid-Season Invitational (MSI) in Chengdu, China, from May 1–19, marking the city's first time hosting a major League of Legends global event.
- The winner of the 2024 MSI will receive a direct invitation to the 2024 League of Legends World Championship, which is scheduled for September 25 to November 2 in Berlin, Paris, and London.
- The Chengdu Gaoxin District government plans to invest ￥240M RMB ($33.5M USD) over the next three years to develop the local esports industry.
Riot Confirms Negotiations With Saudi’s Esports World Cup Foundation
Riot Games has confirmed that it is in active negotiations with the Esports World Cup Foundation regarding potential participation in the Saudi Arabian government-backed tournament series.
- Riot Games has confirmed it is in active negotiations with the Esports World Cup Foundation regarding potential participation in the Saudi-backed tournament series.
- No final agreements have been reached, and Riot is currently evaluating whether such third-party events can fit into its 2024 competitive calendar.
- Riot stated that it is exploring third-party partnerships to provide teams and players with additional revenue streams and competitive opportunities, citing the 2023 Asian Games as a successful model.
The Alumni Effect: A Deep Dive into Studios Founded by Ex-Rioters
The emergence of startups founded by former Riot Games employees represents a significant sub-sector of the venture capital landscape in gaming.
- Startups founded by former Riot Games employees have raised nearly $500 million across 27 companies since 2020.
- Ex-Riot founders command a 53% premium in average round size, securing $11 million per round compared to the $7 million industry average.
- Venture capital firms Andreessen Horowitz and Bitkraft Ventures are the primary backers, participating in deals worth $339.3 million and $236.3 million respectively.
Riot Chooses GGTech for TFT Remix Rumble: North America
Riot Games has appointed GGTech Entertainment as the official tournament organizer and broadcast operator for the Teamfight Tactics (TFT) Remix Rumble set in North America.
- Riot Games has appointed GGTech Entertainment as the official tournament organizer and broadcast operator for the Teamfight Tactics (TFT) Remix Rumble season in North America.
- The tournament structure includes two cups, the K/DA Cup and the Heartsteel Cup, each featuring a $12,500 prize pool, followed by a Regional Finals event with a $35,000 prize pool.
- The Remix Rumble set, launched on November 21, 2023, marks a strategic shift for Riot Games toward a schedule of three TFT sets annually, with each set duration extended to four months.
Players Choose Recipients of Riot Games Social Impact Fund
Riot Games has finalized the distribution of $4.5 million in charitable funding for 2023, a process driven by direct player participation.
- Riot Games allocated $4.5 million to charitable organizations in 2023, funded by proceeds from in-game items and content sales.
- The Riot Games Social Impact Fund has surpassed $50 million in total funds raised since its inception in 2019.
- Players cast approximately 589,000 votes across 28 global regions to determine the distribution of the 2023 funds.
Riot Games Names Mark Zimmerman LCS Commissioner
Riot Games has appointed Mark “MarkZ” Zimmerman as the new commissioner of the League of Legends Championship Series (LCS) for the 2024 season.
- Riot Games has appointed Mark “MarkZ” Zimmerman as the new LCS Commissioner for the 2024 season, replacing Jackie Felling.
- The LCS will return to a weekend broadcast format for 2024, reversing the 2023 experiment that utilized a weekday schedule.
- The league is reducing its number of participating teams from 10 to eight for the 2024 season.
Marc Merrill Promoted to Newly Created Role of Chief Product Officer
Riot Games has appointed co-founder and former co-CEO Marc Merrill to the newly created position of Chief Product Officer.
- Riot Games co-founder and former co-CEO Marc Merrill has been appointed to the newly created role of Chief Product Officer.
- In his new position, Merrill will oversee the entire ecosystem of Riot’s product offerings, including League of Legends, Valorant, Teamfight Tactics, Wild Rift, Legends of Runeterra, and upcoming MMO and fighting game projects.
- Merrill will report directly to current Riot Games CEO Dylan Jadeja.
