LionsGate and Michael Milken invest into eSports

LionsGate and Michael Milken invest into eSports

Esports has been growing at a phenomenal pace in the recent weeks. There have been reports of investments on multiple fronts. Investors are not only investing in teams but also in streaming services, organisations or are just idling with their investments till an appropriate time.

 

Immortals is based in North America, but they have teams all over the world. They have diversified into various esports and that puts them in a very low risk assessed team. Their teams play various esports such as  League of Legends, Counter-Strike: Global Offensive, Overwatch, and Super Smash Brothers.

We’re delighted to be an early mover in a market that has the potential to transform the face of sports entertainment,” said Lionsgate president of Interactive Ventures & Games, Peter Levin, in a statement. “Our involvement in eSports creates tremendous opportunities to develop new content and utilize our suite of distribution platforms for a coveted consumer demographic with compelling engagement metrics. Collaborating with an elite group of partners, the combination of the Lionsgate and Immortals brands will be formidable.

LionsGate has been stepping up its investment into esports. Although this is the first instance of direct investment into eSports by Lionsgate, they have had contact with esports in the previous year. Last year, Pilgrim Media Group, in which Lionsgate is a majority investor, announced that it was partnering with ESL, the world’s largest eSports promoter, to create original esports entertainment content for television and digital platforms.

“Lionsgate joins a dream team of media, tech, and traditional sports partners who share our vision of building a dynamic Immortals organization and a strong e-sports foundation,” said Immortals chairman and CrossCut Ventures managing director Clinton Foy, in a statement. “What we’re doing today in eSports is like the early days of building the NFL and NBA. It’s not the evolution of games — it’s the evolution of sports, technology, and media.”

Source : VentureBeat

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