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The NBA's foray into esports has been a strategic move to tap into the growing industry, leveraging the popularity of gaming to expand its audience and revenue streams.
One significant initiative is the NBA 2K League, a professional gaming league centered around the NBA 2K video game series. This league, managed by the NBA, has not only attracted diverse players but also garnered substantial viewership. Several teams, like the Golden State Warriors and the Houston Rockets, own their own NBA 2K League franchises.
The NBA is also learning from esports on engaging fans, utilizing platforms and strategies to enhance interaction. This synergy between the NBA and esports has created growth opportunities for both sectors, allowing the NBA to reach a wider audience and establish a presence in the rapidly expanding esports industry.
NBA team owners, including ownership behind the Cleveland Cavaliers, Golden State Warriors and Philadelphia 76ers have also invested in esports organizations. Even athletes like Steph Curry, star of the Golden State Warriors, made an investment in Team SoloMid (TSM),1 a Los-Angeles based esports team with an estimated valuation of US$540 million.2
The NBA's partnerships and branding efforts have led to audience growth, especially in the Asia Pacific region, a key market for esports. This expansion has been supported by revenue streams unique to esports, such as in-game purchases and digital advertising, alongside traditional sports revenue sources.
Another esports organization making waves in the esports arena is OverActive Media (TSXV:OAM) (OTC:OAMCF), Canadas largest esports ownership group with a roster of widely popular professional esports team, including the Toronto Ultra in Call of Duty League, the MAD Lions for the League of Legends EMEA Championship and the Toronto Defiant in the Overwatch Champion Series.
OverActive Media Strengthens Position in Esports with Acquisitions and Major Partnerships
OverActive Media (TSXV:OAM) (OTC:OAMCF) has significantly strengthened its position, emerging as the top brands globally for viewership and engagement following the acquisition of two widely popular esports teams.
On March 1, OverActive Media (TSXV:OAM) (OTC:OAMCF) completed the acquisition of Spanish esports organizations KOI and Movistar Riders, forming a global esports powerhouse with more than 100 million dedicated followers. The deal, which is the largest in the companys history, broadens OverActive Medias (TSXV:OAM) (OTC:OAMCF) global footprint to fast-growing international markets and brings with it a diverse range of top-tier Esports assets.
KOI is a prominent Esports organization in Europe, established by Ibai Llanos, a world-leading Twitch streamer, and Gerard Piqu, a soccer icon formerly with FC Barcelona. Ibai grew KOI to become one of the biggest brands in Europe. Gerard Piqu, celebrated for his triumphs with FC Barcelona, Manchester United, and as a FIFA World Cup and UEFA EURO champion, launched the Kings League in 2022, one of the world's most-watched sports channels on digital platforms, with more than 100 million views in 2023. OverActive has entered into service agreements with Ibai and Gerard .
Movistar Riders, another leading Esports entity in Spain that competes in the most popular games such as League of Legends, CS2, or VALORANT, as well we for FIFA via its Atltico de Madrid team, has a longstanding collaboration with Telefnica, a major Spanish telecom multinational.
The acquisitions of KOI and Movistar Riders mark a significant milestone for OverActive Media, which expects the acquisitions to add C$10 million to C$12 million in revenues in 2024 and increase its reach to over 100 million across its portfolio.
Adding KOI and Movistar Riders to OverActive will solidify our position in Spain, EMEA and Latin America, Adam Adamou, CEO of OverActive Media, said. Both brands are active in complementary esports titles, have industry-leading talent and social influence, top-tier relationships, and related services that bring strong synergies across our combined portfolio of assets. We have spent much time with Ibai, Gerard, Fer, Carlos, Gabriel and their respective teams, and we are all aligned in wanting to make an immediate impact through this combination.
The company's recent multi-million-dollar partnership with Telefnica, a major global telecom operator, further strengthens its position. Telefnica, a long-time partner of Movistar Riders, has renewed its sponsorship for three years and is now a shareholder in OverActive Media. Movistar Riders' expanded partnership with Telefnica is the largest financial partnership in OverActive Media's history.
In conjunction with changes to OverActive Media's esports operations in the EMEA region, Movistar Riders' Founder Fernando Piquer will join the company as its Chief Strategy Officer, while Movistar Riders CEO Carlos Garcia-Acevedo will become the Chief Commercial Officer for the EMEA region.
Movistar Riders co-founder Gabriel Saenz de Buruaga and Piqu will join the OverActive Media board of directors.
Click here for more information about OverActive Media (TSXV:OAM) (OTC:OAMCF).
[1] https://www.kemperlesnik.com/2020/10/why-athletes-are-investing-in-esports/
[2] https://www.sportspromedia.com/news/most-valuable-esports-organisation-2022-team-solomid/
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