From sponsorships to industry-wide announcements, Insider Sport has you covered when it comes to the world of esports.
This week’s edition highlights the latest developments in the esports sector, including GG.BET forming a new partnership and Guild Esports’ financials.
GG.BET extends Team Vitality partnership into 2024
The global betting brand GG.BET has announced the extension of its deal with international esports club Team Vitality into 2024.
GG.BET partnered with the esports team in 2022, which has led to several online projects and face-to-face activations, including integration with the mobile blockchain app V.Hive, which was downloaded by 80,000 fans of the team.
As part of the partnership, the two organisations are planning to organise online projects and large-scale offline events for supporters of the esports club, fans of Counter-Strike and other disciplines.
BLAST launches mobile app for BLAST.tv viewing platfor
Tournament organiser BLAST has launched the beta version of an app for BLAST.tv, its tailored viewing platform.
The firm said that the app would allow esports fans to watch Counter-Strike on the go with a ‘tailored viewing experience’.
BLAST has claimed that the BLAST.tv app received over 3500 downloads during the first week, however, there is no timeline for when the app will be published.
Microsoft lays off 1,900 employees from gaming workforce
Software company Microsoft has cut its workforce, which spreads across recently-acquired Activision Blizzard and the company’s gaming team.
Microsoft acquired Activision Blizzard in late 2023 for $58.7bn, which initially upheaved its reputation in the video game market.
Since the purchase, the company has been relatively quiet regarding restructuring up until now. However, several other big firms have recently cut staff in order to lower costs and boost profitability.
Guild Esports announces £4.5m loss in 2023 but increased revenues
The organisation has reported a 24% increase in revenue, from £4.45m in 2022 to £5.53m. However, the organisation has reported a loss of £4.5m.
The report also outlined the organisation’s developments throughout the period, including the renewal of six partners in 2023, taking its commercial portfolio to eight partners.
Derek Lew, Guild Esports Non-Executute Chairman, stated in an excerpt from the report: “Looking ahead, our effective cost-cutting programme and our growing revenues give great cause to be optimistic, with MENA a key target for international expansion.
ESL FACEIT Group expands partnership with Acer and Intel
ESL FACEIT Group and Acer have further expanded their collaboration, with Intel, EFG’s long-standing partner, now supporting the partnership.
Bastian Veiser, Director of Partner Management at EFG, commented on the deal: “Acer has consistently shown their commitment towards elevating the esports scene and delivering outstanding experiences for fans all over the world, and we’re excited to be renewing and expanding our partnership for another year.
“The partnership has already brought immense value to EFG products and their respective communities, and we look forward to continuing to innovate with Intel and Acer in 2024.”