The Esports Advocate
Esports business news: deals, legal, and governance.
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Shikenso Analytics Partners With Fnatic
The London-based esports organization Fnatic has entered into a partnership with Shikenso Analytics, a firm specializing in marketing and sponsorship measurement within the gaming and esports sectors.
- London-based esports organization Fnatic has entered a partnership with Shikenso Analytics to evaluate the performance of its marketing and sponsorship campaigns.
- Fnatic will utilize Shikenso’s AI-powered tools to track and measure partner integrations across live streams, video content, and social media channels.
- The financial terms and the duration of the partnership agreement between Fnatic and Shikenso Analytics were not disclosed.
BLAST Partners With Visit Denmark for BLAST Premier Fall Final 2023
The esports tournament organizer BLAST has entered into a strategic partnership with Visit Denmark, the national tourism board, to promote Denmark as a premier global destination for gaming and competitive esports.
- Tournament organizer BLAST has partnered with Visit Denmark to promote the country as a global hub for gaming and esports.
- The partnership centers on the BLAST Premier Fall Final, held at Copenhagen’s Royal Arena from November 22–26, 2023.
- The event features a total prize pool of $425,000, with $200,000 awarded to the first-place winner.
Evil Geniuses and Golden Guardians Exit LCS: 2024
The League of Legends Championship Series (LCS) is undergoing a significant structural contraction, reducing its North American league from ten participating teams to eight for the 2024 season.
- Riot Games is reducing the League of Legends Championship Series (LCS) from 10 teams to eight for the 2024 season.
- Evil Geniuses and Golden Guardians will both exit the LCS at the end of 2023.
- The departures of these two organizations were mutually agreed upon with Riot Games.
G2 Esports in the Final Stages of Completing Version1 Acquisition
Berlin-based G2 Esports is in the final stages of acquiring Minnesota-based organization Version1, a move that includes the transfer of the Call of Duty League franchise, Minnesota RØKKR.
- G2 Esports is in the final stages of acquiring Version1, a deal that includes the transfer of the Call of Duty League franchise Minnesota RØKKR.
- Version1 has informed its remaining staff of approximately four to five employees that they may be subject to layoffs as early as December 2, 2023.
- The acquisition follows months of extended negotiations between G2 Esports and Version1 management regarding a merger.
Promod Esports Files for Bankruptcy and Lays Off Entire Staff
Promod Esports, a UK-based tournament organizer and esports agency, has filed for insolvency and terminated its entire staff.
- UK-based tournament organizer and esports agency Promod Esports has filed for insolvency and laid off its entire staff.
- The company has failed to pay players and casters for various events, with outstanding debts dating back to June 2023.
- Riot Games has confirmed it is severing ties with Promod and is currently seeking new partners for the 2024 Valorant Challengers Northern Europe: Polaris league.
LeagueSpot Renews Partnership With SUNY Esports
LeagueSpot has officially renewed its partnership with the State University of New York (SUNY) Esports, continuing a collaboration that began in September 2020.
- LeagueSpot has renewed its partnership with the State University of New York (SUNY) Esports, continuing a collaboration that began in September 2020.
- SUNY Esports enrollment has grown by 400%, or several thousand students, over the past three calendar school years.
- The renewed partnership aims to leverage esports to improve student recruitment, retention, and empowerment across the 64-school SUNY system.
Mastercard Launches Mastercard Gamer Academy
Mastercard has launched the Mastercard Gamer Academy, a professional development initiative designed to provide aspiring industry professionals with the mentorship, networking opportunities, and skill sets necessary to pursue careers in esports.
- Mastercard, in partnership with G2 Esports and Riot Games, has launched the 'Mastercard Gamer Academy' to provide professional development for individuals pursuing careers in the esports industry.
- The program will select 10 participants to receive mentorship, networking opportunities, and an educational curriculum covering marketing, content creation, and event execution.
- Participants will receive all-expense-paid trips to major 2024 events, including the League of Legends World Championship and Valorant Champions, as well as two visits to the G2 Esports headquarters in Berlin.
Shopify Rebellion to Acquire Version1’s Valorant Game Changers Team
Shopify Rebellion has moved to acquire the Valorant Game Changers team previously operated by Version1.
- Shopify Rebellion has acquired Version1’s Valorant Game Changers team, which is scheduled to compete in the Game Changers Championship beginning November 28, 2023.
- The acquired team is expected to compete under the Shopify Rebellion banner rather than the Version1 brand.
- Financial terms of the acquisition were not disclosed.
Enthusiast Gaming Q3 2023 Financial Results
Enthusiast Gaming’s financial results for the third quarter of 2023 reveal a period of significant fiscal strain, characterized by a net loss of $59.1 million CAD ($42.7 million USD).
- Enthusiast Gaming reported a net loss of $42.7M USD for Q3 2023, driven largely by $37.4M in non-cash impairment charges linked to macroeconomic conditions.
- The company’s available cash dropped to $2M at the end of Q3 2023, down from $5.4M at the end of 2022, primarily due to operational outflows and debt repayments.
- Total revenue for Q3 2023 was $33M, a 10% decline year-over-year, as the company faced lower programmatic advertising CPMs across its web and video platforms.
PlayVS Announces Fee-Free Scholastic Esports for North America
PlayVS has announced a significant shift in its business model, eliminating participation fees for high schools and students across North America beginning with the 2024 season.
- Starting with the 2024 season, PlayVS will eliminate all enrollment fees for students and high schools in the U.S. and Canada, removing the previous cost of approximately $80 per student per season.
- PlayVS plans to fund its operations through a new corporate sponsorship model, similar to the strategy used by CEO Jon Chapman at his previous company, EverFi, to cover costs instead of charging schools.
- The company will no longer use its exclusive game licenses to block schools or districts from running their own independent esports programs, marking a shift away from previous controversial business practices.
NEOM Partnership With McLaren Racing Expands to Esports Division
McLaren Racing has expanded its existing partnership with NEOM, a Saudi Arabian city project backed by the Public Investment Fund (PIF), to include its official esports division, McLaren Shadow.
- McLaren Racing has expanded its partnership with the Saudi government-backed NEOM project to include its official esports division, McLaren Shadow.
- NEOM has been named the official principal partner of the McLaren Shadow F1 esports team.
- The collaboration will focus on developing talent pathways for Saudi Arabian sim racers, including training opportunities at the McLaren Shadow Academy in Surrey.
GAMERGY to Make U.S. Debut in March 2024
GGTech and MECENAS have announced plans to launch the international gaming and esports festival GAMERGY in the United States, with a debut event tentatively scheduled for March 21–24, 2024, in Miami, Florida.
- The esports and gaming festival GAMERGY is tentatively scheduled to make its U.S. debut in Miami, Florida, from March 21–24, 2024.
- The event is a joint venture between GGTech Entertainment and IFEMA, with support from MECENAS, and is intended to establish a long-term presence in the U.S. market.
- The festival will occupy an expo space of over 11,000 square meters (118,403 square feet) and feature a main stadium for esports competitions.