eSports
Glisco Partners leads $12.4 million investment in GGTech Entertainment, with Heart Beat contributing $1.4 million
Glisco Partners, a leading growth equity investment firm for disruptive and cross-border high-growth companies, and Heart Beat, an investment manager focused on the Americas, has announced the closing of a $12.4 million investment in Spanish company GGTech Entertainment. A leader in the gaming and esports environment, GGTech is one of the main organisers of esports events and competitions worldwide, which has experienced exponential growth in recent years. This investment will see GGTech consolidate its global presence across Europe, the Middle East, North Africa and Latin America, as well as accelerate its entry into the US market, one of the largest gaming and esports markets in the world.
GGTech Entertainment is an international company with a presence in Europe, North America, South America, the Middle East and North Africa, dedicated to the development of innovative leisure, entertainment and education projects through gaming, esports and technology. The company offers a wide range of technological solutions to promote the development of society and provides the best leisure, competition and entertainment experiences. GGTech has an international team of highly qualified professionals focused on the creation and operation of products in the gaming and sports industry, and is making significant progress in the development of applied technology.
In the UK, GGTech develops Amazon UNIVERSITY Esports. Present in 16 countries across 4 continents, the project seeks to integrate the recreational and competitive aspect of video games with educational activities. Each country offers workshops presented by professionals in the esports industry to university students interested in learning more about the industry.
GGTech recently announced the acquisition of NUEL, UK-based grassroots esports tournament and community organiser.
José Parrilla, co-founder and CEO of GGTech Entertainment: “As the leading organiser of multi-language esports events and tournaments in Europe, MENA and Latin America, we are very confident about our growth prospects in the US. Video games, and esports in particular, have been growing in popularity year after year, especially in the US, where more than half of the US population play games on a regular basis. This trend is expected to grow exponentially over the next decade and our goal at GGTech is to strengthen our presence in this market over the next few years. We also have the support of major brands and publishers, who we already have solid alliances with, to help contribute to our growth in the US market.
Commenting on the investment, Alfredo Castellanos, Managing Partner at Glisco Partners, said: “Our investment in GGTech is part of our strategy to help highly disruptive companies grow their market share and enter the US market. GGTech is particularly attractive because of its proven business model and strategy to leverage its content production studios in Mexico and Spain to serve the growing esports market in the US.”
Industry numbers
The video games industry reached more than 3 billion players worldwide and revenues of $192.7 billion in 2021, making it the second largest segment of global entertainment. According to the latest research from Statista, esports had a global audience of over 532 million viewers in 2022, including enthusiasts and casual viewers. This is an increase of more than 60 million on the previous year and makes esports the second most watched sport in the United States, after the NFL.
Today, Virtus.pro kick things off at Esports World Cup 2024 — the largest event in esports history.
EWC marks the first championship of this scale. Our club is represented by eight rosters that have already secured their spots, with two more currently competing in qualifying matches for the chance to face the world’s best teams. Virtus.pro have made a significant leap towards multi-gaming, catering to every fan with their preferred title.
For the tournament’s start, Virtus.pro has prepared a video, crafted with respect for the fans and their passion for the club. It features numerous references to the two-decade history of Virtus.pro.
With the main character, a polar bear, viewers will journey from the team’s inception to triumphant victories at global competitions, establishing themselves as one of the leaders in the industry. The video is rich with references to key moments in the club’s history and emotional events that have touched fans’ hearts, including the famous arrow at TI9. From the first frame to the last, this video is a love letter to our fans!
Virtus.pro’s new challenges in Riyadh will begin tomorrow. Cheer for the Bears and become a part of the history we are writing together right now!
The following Virtus.pro line-ups will compete at Esports World Cup 2024 in Riyadh:
Dota 2
Tournament dates: July 4-21, prize pool: $5,000,000
CS2
Tournament dates: July 17-21, prize pool: $1,000,000
Overwatch 2
Tournament dates: July 24-28, prize pool: $1,000,000
Apex Legends
Tournament dates: July 31 – August 4, prize pool: $2,000,000
Street Fighter 6
Tournament dates: August 8-11, prize pool: $1,000,000
StarCraft II
Tournament dates: August 14-18, prize pool: $1,000,000
PUBG
Tournament dates: August 21-25, prize pool: $2,000,000
Rennsport
Tournament dates: August 22-25, prize pool: $500,000
Additionally, two of our teams will soon compete in qualifying matches for EWC: Rainbow Six Siege and Honor of Kings.
The post Virtus.pro present an announcement video for the start of Esports World Cup 2024 appeared first on European Gaming Industry News.
Inaugural Esports World Cup is a global celebration of competitive excellence and esports fandom, with a record-breaking prize pool of over $60 million (500 Cr.)
Star Sports Network and the Esports World Cup Foundation (“EWCF”) today announced the acquisition of broadcasting rights for the Esports World Cup (“EWC”) 2024. The tournament, held in Riyadh, Saudi Arabia from July 3rd to August 25th, will unite the global gaming communities and deliver premier competition in a unique format at an unprecedented scale. Over eight weeks, the EWC will feature the world’s top Esports clubs competing in 21 of the most popular game titles, making it the largest multi-game Esports tournament ever. As the official broadcaster, Star Sports is set to deliver comprehensive coverage of the tournament, offering viewers and fans an unparalleled Esports experience with in-depth commentary in English and Hindi. The Esports World Cup will be streamed on Star Sports’ YouTube channel and broadcast on linear TV via Star Sports First and Star Sports 2.
In 2022, BGMI Masters became the first Esports franchise to be broadcast in India by the Star Sports Network, drawing in millions of viewers over its linear television debut. Highlighting the immense popularity of the online multiplayer battle royale game, Star Sports has been instrumental in bringing esports to the mainstream Indian gaming audience.
Vikram Passi, Head Marketing – Sports, Disney Star, stated, “Esports is rapidly emerging as a significant force, fuelled by India’s burgeoning gaming culture and its recognition on the global stage. The BGMI Masters’ Series, in just a few seasons, has firmly established itself as a premier tournament in India, demonstrating the immense potential for world-class Esports competitions. With the upcoming Esports World Cup broadcast, we aim to expand our audience base, energize the gaming community, and foster greater acceptance of Esports among non-gamers. This event will not only captivate dedicated Esports enthusiasts but also engage a younger demographic across our platforms, driving a broader appreciation for the competitive gaming landscape.”
Ralf Reichert, CEO Esports World Cup Foundation, said “Our partnership with Star Sports brings the Esports World Cup to India’s massive and passionate gaming audience. Having witnessed this firsthand, I’m thrilled to nurture India’s growing esports scene and inspire future champions. With the world’s best competing in Riyadh, we hope to spark a new wave of esports fandom in India, and maybe even see an Indian team claim victory.”
The EWC will offer the largest prize pool in esports and feature the most popular esports titles across all major gaming genres. It will welcome a new cross-game competition format, awarding prizes for individual game titles and club performances. This will be a first ever Esports World Cup with a prize pool of more than $60 million (INR 500 crore)
The eight games to be broadcasted on Star Sports Network are Call of Duty: Warzone, Dota 2, Counter-Strike 2, Overwatch 2, Apex Legends, Fortnite, EA Sports FC 24, and PUBG Battlegrounds .
Specific highlights include:
- Opening Broadcast: Week 1 July 3rd at 10 PM on SS First and SS YT Channel with Call of Duty: Warzone in Hindi.
- Weekly Schedule: From Week 3, starting July 18, EWC will be broadcast at 9 PM on SS2 and SS First along with SS YT Channel
- Hindi Commentary: Call of Duty: Warzone (Week 1) and Counter-Strike 2 (Week 3) will be shown with Hindi commentary on SS First along with and SS YT Channel
The Esports World Cup broadcast on the Star Sports Network will further solidify esports as one of the fastest-growing sports in India, bringing the best of global esports action to India. The Esports World Cup Foundation is pleased to share Star Sports’ vision in bringing esports to a broader audience as they continue to pave the way for the future of competitive gaming in India
The post STAR SPORTS NETWORK ACQUIRES BROADCASTING RIGHTS FOR ESPORTS WORLD CUP 2024 appeared first on European Gaming Industry News.
Global energy brand extends relationship with one of the world’s largest gaming festivals
The Esports World Cup Foundation (“EWCF”) and Aramco, one of the world’s leading integrated energy and chemicals companies, announced a strategic partnership that will see Aramco extend its sponsorship of the Esports World Cup, set to take place this summer in Riyadh, Saudi Arabia.
As the official title partner of the Aramco SIM Arena, Aramco will present a high-end simulator zone where racing enthusiasts can compete in community tournaments at the Esports World Cup Festival. The Aramco SIM Arena, offering hyper-realistic simulators that provide an experience akin to driving an F1 car, will be a premier destination for sim-racing fans. This partnership builds on Aramco’s previous successful sponsorships of Gamers Without Borders and Gamers8: The Land of Heroes festival.
Aramco’s involvement with the Esports World Cup is part of a broader ambition to promote economic development and diversification, provide new opportunities for young people in the country, deliver critical STEM skills, and help build a diverse and dynamic Saudi economy.
The partnership between Aramco and the Esports World Cup is set to create a lasting, positive impact on the world of esports. As the festival approaches, both parties look forward to showcasing Saudi talent on the global stage and inspiring today’s youth through the power of gaming and esports.
Starting July 3, 2024, the EWCF will transform Riyadh into the epicenter of esports fandom and gaming culture, with an eight-week festival. The event will feature gaming activations, community tournaments, pop culture celebrations, international experiences and more. Fans can watch their favorite athletes and clubs compete in 21-game championships for a share of more than $60 million in prize money, the largest in esports history.
The post Esports World Cup and Aramco Announce Strategic Partnership appeared first on European Gaming Industry News.
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