Misfits Gaming Group has been one of the industry’s fastest-growing esports organisations, operating from Florida since 2016. Today, in the League of Legends, Call of Duty and Overwatch, the organisation works for high-performance teams, but there is also profound history in other areas. Now, the Misfits Gaming Group (MGG) announced a significant $35 million investment round.
The investment cycle promises to propel MGG even higher, driven by E.W. Scripps, an American broadcasting company. The main aim of this round was, in particular, to establish tactical partnerships in the field of esports media. Scripps, the event’s leading partner, promised an investment of $10 million for broadcasting rights across Florida and the United States.
The industry is expected to endure incredible growth in the next few years, as we have recently reported. Misfits Gaming Group has identified, in a strategic effort, the most lucrative areas of this imminent growth, including broadcasting and media. MGG has only multiplied its potential with this investment round.
Brian Lawlor, the president of the local media for Scripps, has revealed in a statement:
“The combination of Misfits and Scripps will help build energy around esports competitions, and that will boost content and connect advertisers with young audiences.”
Like many modern esports organisations, Misfits Gaming Group seeks to transcend competitive gaming, becoming an esports media giant. Right now, Misfits’ presence is mostly felt in and around Florida, but with this deal, it’ll expand the organisation’s profile greatly.”
Misfits currently own the CDL team, the Overwatch team, Florida Mayhem, the Florida Mutineers team and the Missfits Gaming LoL team. Misfits compete in top-level tournaments in these fields, but it is currently seeking to continue to grow.
And behind the organisation, there is already a remarkable basis. MGG is partly the property of the sports equipment Miami Heat and Orlando Magic.
It was recently announced that $100 million in its own round of investment was raised by StreamElements, a popular streaming tools company. This platform delivers overlays, widgets and interactive elements for streams and videos to some of the best content creators. Whether you’re one of the best call-of-service streamers or a Fortnite YouTuber, StreamElements helps.
This is one of the best examples of confidence in the sports industry from third-party organisations. While SoftBank Vision Fund 2 chiefly driven the investment round, a number of companies, including PayPal, participated. One of the major investors participating in the deal stated:
The demand for authentic creator-driven content has increased exponentially as online entertainment continues to evolve as an immersive experience.
We are almost bound to see such opportunities for investment with the passing of time. In future years, the potential of sports will hundreds of people growing into a massively valuable industry.