Esports is a multi-billion dollar industry. Esports is growing in popularity, with tournaments drawing large audiences and teams gaining huge sponsorships from large companies.
The most popular esports games are played globally and have amazing betting guides, with fans from different countries participating and watching them online. Some of the most prominent esports competitions include The International (Dota 2) and League of Legends World Championship Series (LoL).
Esports has been considered to have high growth potential due to its mass appeal and global reach. Esports are on the rise, but one question remains; how do they make their money?
Selling Access to Live Events
A large portion of revenue for esports teams comes from selling tickets or broadcasting rights for their live events. These can range from small in-person tournaments with relatively low production value, for example, the Smash Bros Melee tournaments, to massive stadium-sized competitions.
Another way esports teams make money is by paying players salaries. Teams player’s wages to keep them on their rosters and ensure they stay competitive. This can range from hundreds of thousands of dollars per year for top-tier teams.
Selling Player Merchandise
Selling player merchandise includes everything from player-branded clothing and hats to team-branded accessories. The most common way for this to work is when a player decides to sell their merchandise in addition to representing the team.
Players can sell their brands of gear on their websites, as well as an esports organization selling branded apparel through its online store.
Sponsorships are the most significant source of income for esports. They’re usually short-term but can also be long-term, depending on various factors. Sometimes they’re monetary, and others are non-monetary.
Local sponsorships can be within one region or province. Regional sponsorships include multiple areas across a continent or country, while national sponsorships are found on a national level in some countries. For example, soccer teams are sponsored by major corporations like Coca-Cola.
These would have local reach and international reach since they’re famous enough to be recognized around the world. Global sponsorships are when you see something like “This video game was made possible by…” at the beginning of your favorite streamer’s videos.
Companies sponsoring a team want worldwide exposure. So, they’ll likely choose someone who has vast followership across all social platforms, such as YouTube Gaming or TwitchTv.
If a company wants to sell its product or brand, it must first license the rights to do so. The process is simple; one party grants permission to another party to use a trademark in exchange for money. Licensing is a great way to make money from your brand, and esports are no exception!
Some famous brands that have licensed their products include Coca-Cola and McDonald’s. Licensing can also be used. An effective marketing strategy for expanding your current audience and reaching new ones.
You can provide official apparel, accessories, and other gears that fans can buy online or in stores.
It’s essential for esports because they need all the exposure they can get!
Intellectual property is the legal right to an idea. It can include anything from a song to a game, and it’s used in esports to protect teams from copycats.
For example, if you had a fantastic idea for a new FPS game with all these great features, but someone took it and published it as their work before you did, they could sue you for using their intellectual property.
There are also non-game-related types of intellectual property like merchandise and music rights. They are sold separately from teams’ sponsorships and streaming deals.
These can be lucrative sources of income for esports teams because they’re unlikely to compete with other projects that have nothing directly related.
Esports can also generate revenue from winning tournaments whenever they compete. Although it’s not a consistent source of income for esports teams since they might not succeed in every game, the tournament winnings can sustain the time.
Players are motivated to stay competitive and win more for the team to run its activities smoothly and for the players to make a sustainable career in the esports world.
Esports, previously considered a fringe activity for nerds, has become a multibillion-dollar industry. Many people are still surprised to hear that it’s possible to make money playing video games, but the truth is that this has been an emerging market for many years now.
Esports’ popularity is growing exponentially, and it will soon be one of the largest entertainment sectors in the world. But how are these players paid? It turns out they have various ways to make their money!
Red Bull Solo Q Kicks-Off This February, bringing the best duelists to London with Epic LAN Final In London, May 18-19th!
Red Bull Solo Q, the official 1v1 League of Legends tournament, has revealed details of its return in 2023! Red Bull Solo Q is the ultimate grassroots 1v1 League of Legends tournament, giving talented duelists around the world the chance to shine on the world stage. This year, the Red Bull Solo Q World Finals will be held at the Red Bull Gaming Sphere in London, a state-of-the-art gaming and event venue in the heart of the capital, on May 18-19th, alongside the League of Legends Mid-Season Invitational (MSI), one of the biggest events on the global esports calendar featuring the best teams in the world.
Starting from February, national events in 18 countries across Europe, MEWA, North and South America will commence, with additional international regional qualifiers for players in NA, EU and LATAM to secure the final lineup headed to the Red Bull Solo Q World Final in May. The Red Bull Gaming Sphere in London will host the pinnacle of the competition. The winners of each national and international qualifier will also be offered an exclusive experience at MSI, alongside the Red Bull Solo Q World Finals, where players will represent their country and region with hopes to follow the footsteps of Red Bull Solo Q Champions who have continued their success in the League of Legends scene.
Players from the countries listed here can look forward to their national campaigns starting shortly: Argentina, Austria, Belgium, Brazil, Bulgaria, Canada, Chile, Colombia, Denmark, Egypt, France, Greece, Hungary, Latvia and Turkey.
More information about each national campaign can be found on the Red Bull website.
For those not part of the listed countries above, they will still have a chance to participate in regional qualifiers with a spot at the Red Bull Solo Q World Finals up for grabs. Regional qualifiers will begin on April 13th, with the first qualifier taking place in North America. Additional qualifiers for EUW, LATAM and NA will take place throughout April and May.
Red Bull Solo Q adds a unique twist to traditional League of Legends gameplay with a 1v1 format which paves the way for new strategies and methods to be deployed and offers fans the unique opportunity to see champions and approaches they might not otherwise see. As well as the unique format, Red Bull Solo Q also offers a different way of winning, where players win by securing First Blood, taking down the opponent’s tower, or reaching a 100-minion score to claim victory.
Red Bull Solo Q returns from a successful 2022 season which saw an all-Greek final in New York. The 2022 Red Bull Solo Q Champion, Ahilleas ‘SneakyLemon’ Natsis, put some incredible skill and resilience on display, as he saw off fellow Greek player Arnas “arnax” Stepanauskas. “Having people in the background cheering for me, waving at me and applauding me was the highlight of the entire tournament,” said SneakyLemon following his win. “Winning feels amazing, it’s the best feeling. I can walk down the street and know that I’m the winner!”
To provide competitors with the very best equipment, Red Bull Solo Q has joined forces with AGON by AOC, the global leader in gaming monitors, as the Official Monitor Partner for the event, bringing exceptional visual clarity and ultra-high refresh rates to competitors. AMD joins as Technology Provider, ensuring the high-performance computing that will push the boundaries of the tournament.
Nick Venezia joins MOGO as Chief Data Officer
Mobile Global Esports Inc. (MOGO) (NASDAQ Ticker: MGAM), the mobile esports and social platform company driving collegiate esports tournaments, team, and player development in India, today announced that Nicholas (Nick) Venezia has joined MOGO as Chief Data Officer.
Nick has spent the last decade working with clients from various industries, including finance, government, technology, entertainment, non-profit, luxury, Fortune 500, Global 100, and more. Along the way, he has built digital assets that convert directly into increased profit margins. Nick uses complex scientific formulas and analytical mathematics to create unique algorithms and toolsets that guarantee revenue for his clients.
“Nick’s expertise in driving data value while protecting those providing their data is of singular importance as we build out the Indian collegiate esports market,” said Mobile Global Esports CEO Dave Pross. “Behind every data point is a human, and MOGO is determined to build the most robust online sandbox for the Indian esports community that inspires confidence and promotes engagement and interaction with game developers and tournament and arena sponsors. We are at an exciting time in the development of a monetizable India-centric esports continuum featuring India-based data centers and MOGO is pleased to have Nick as an integral part of our team. Our data identity, graph and analytics platform maintained on in-country servers will ensure that Indian data does not leave India.”
“I’m very excited about the opportunity for MOGO to be ahead of the curve in building the infrastructure that will allow for esports to flourish in the new era of internet privacy regulations in India,” said Mobile Global Esports Inc. Chief Data Officer Nick Venezia. “Our job and duty is to protect our players, our customers and our partners. We are engineering an interface for gamers and users to interact with and build on top of, while making the data available to build the games of tomorrow designed and tailored to that specific human. MOGO will be creating extremely valuable datasets that also respect individual consent and align with future privacy standards while delivering qualified and high value audiences.”
Nick Venezia is a mathematician, social data architect, and early contributor to digital-marketing teams at Twitter, LinkedIn, and Snapchat. Nick has worked with many consumer brands, helping them define and connect with their constituent audiences and prospective customers. Nick has been publicly recognized by clients and industry partners alike for his contributions and innovations in the field of digital marketing. Nick has also advised public sector stakeholders and agencies on detecting and combatting coordinated social media-driven election meddling and disinformation.
He is the founder and CEO of Social Outlier, and co-founder + Chief Data Officer at DeepPod. With his latest project, Centillion, Nick has brought together a community of visionary data architects, with the mission to help people exercise sovereignty over their personal data and decide by whom, and under what terms their data can be used. Sovereignty over personal data and the ability to securely capture economic value from its use will be essential pillars for any future universal basic income initiatives.
Nick is a graduate of Loyola Marymount University and a CFA candidate. He began his career as a registered representative of the North American Securities Administrators Association (NASAA).
Bengaluru Based The Esports Club (TEC) Secures $3M Funding to Expand its Operations Globally!
The Esports Club, with funding led by KOMLAY Group & SAMBAVANATH Group, has raised $3 Million in Pre-Series A round to expand its operations in The Middle East and Southeast Asia and build a state-of-the-art esports platform.
Established in 2019 by experienced gaming and esports industry veterans Vamsi Krishna, Ishaan Arya & Mansoor Ahmed Noor, The Esports Club® provides specialized gaming marketing services. Since its establishment, The Esports Club has developed and launched some of the most commercially successful Gaming and Esports IPs in South Asian region, including the largest consumer gaming show, The Arena in partnership with Comic Con India and one of the longest running esports tournament series, TEC Challenger Series & TEC Gauntlet.
QuantAscend Consulting Global, Investment Bankers & CFO Advisors, and Beeline Capital Advisors Private Limited, SEBI registered (CAT- I) Merchant Banker & boutique Investment Banker secured the investment.
“We are thrilled to have secured this funding and to be expanding our operations to new regions,” said Vamsi Krishna, Founder of The Esports Club. “Esports is a rapidly growing industry, and we are excited to be at the forefront of it. We are committed to building a strong and sustainable Esports ecosystem, and this funding will allow us to do just that. We are excited to bring our competitive tournaments, events, and content to new audiences, and to help cultivate the next generation of Esports talent,” he added.
With this investment, The Esports Club looks to support the organization’s growth in the gaming events and Esports space, including the expansion of its operations, events, and content creation. TEC will also be launching new initiatives in regions, including the hiring of local broadcast talent, hosting events, and developing a strong online presence. TEC will be working closely with local communities to foster the growth of esports in these regions, and to provide opportunities for players to showcase their skills and pursue their careers in gaming.
The organization will also be investing in state-of-the-art broadcast facilities and technology to support its tournaments that cater to new markets.
“Globally, esports is one of the fastest growing businesses in the entertainment industry and we are excited to be part of this growth with The Esports Club and the industry as a whole, “said CA Nikhil Shah, Managing Director of Beeline Capital Advisors Private Limited, Ahmedabad, Gujarat.
“At QuantAscend Consulting Global, we have worked with the company from its formative years and we are delighted to find right set of investors who believe in the business model and subscribe to the vision of The Esports Club,” said Ramesh Babu, Co-Founder, QuantAscend Consulting Global.
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