BUSINESS

Madison Square Garden Company moves into the esports business

TAGs: Counter Logic Gaming, eSports, madison square garden

Madison Square Garden Company has moved into the esports market after acquiring a controlling stake in League of Legends side Counter Logic Gaming, and broadcasters in South East Asia and Australia prepare to launch Reality TV style esports shows.

Madison Square Garden Company moves into the esports businessIn 2015, the iconic Madison Square Garden in New York City played host to the North American League of Legends (LOL) Championship Series Summer Finals. It was the first time the home of sport in the Big Apple had entertained the esports crowd. Counter Logic Gaming (CLG) won the title. The Madison Square Garden Company must have liked what they saw.

Earlier today, ESPN announced that CLG would join the likes of the New York Knicks, and the New York Rangers, in the Madison Square Garden Company Sports Division, in a deal that ensured a controlling stake in the esports team.

Founded in 2010, CLG is the oldest LOL team in the business, but also has teams heavily involved in five other esports games. The sports advisory company Catalyst Sports & Media brokered the deal. The price is a secret.

It’s the second big news story for CLG in 2016, after the team signed a sponsorship deal with the American energy drinks brand 5-Hour Energy.

“We have been actively exploring opportunities to enhance MSG’s portfolio of live experiences; we have been keenly interested in esports as a natural extension of our core business,” David O’Connor, President and CEO of the Madison Square Garden Company told ESPN. “The sport now stands on the verge of enormous change.”

Esports Prepares for Reality TV Debut

As part of this enormous change, the Esports Observer has noted that TV companies in Australia and South East Asia are preparing to bring esports to the world of Reality TV.

Yes, we are going to see millennials running around in their underwear in the claustrophobic setting of Big Brother style shows.

The Singapore-based production company, Spout Entertainment, and Asian media investor Aurora Media Holdings are planning to launch a project called Game to Fame. The ambitious multi-season Reality TV show doubles as a movie franchise with an initial focus on FIFA, before moving into the other three key games: Dota 2, League of Legends, and Counter-Strike: Global Offensive.

Spout Entertainment plan to leverage their 30 million unique global visitors across their broad range of media subsidiaries to make this thing work.

The second show is called The Next Gamer. Its focus is on League of Legends, with the winner taking home a $10,000 purse and a six-month contract in a yet to be determined esports team based in Australia.

The Next Gamer will broadcast entirely on YouTube.

It’s little wonder that esports is drawing the attention of the biggest sporting and TV broadcasting brands.

In a white paper created by BITKRAFT, the first dedicated esports venture fund, they assume that esports viewership will surpass 600 million eyeballs by 2019, earning $1.2 billion in advertising and sponsorship money.

A white paper created by the sportsbook BetGenius believes esports gambling has the capability of exceeding $3.3 billion in gross gaming revenue (GGR) in that same timeframe.

Madison Square Garden Company has moved into the esports market after acquiring a controlling stake in League of Legends side Counter Logic Gaming, and broadcasters in South East Asia and Australia prepare to launch Reality TV style esports shows.

In 2015, the iconic Madison Square Garden in New York City played host to the North American League of Legends (LOL) Championship Series Summer Finals. It was the first time the home of sport in the Big Apple had entertained the esports crowd. Counter Logic Gaming (CLG) won the title. The Madison Square Garden Company must have liked what they saw.

Earlier today, ESPN announced that CLG would join the likes of the New York Knicks, and the New York Rangers, in the Madison Square Garden Company Sports Division, in a deal that ensured a controlling stake in the esports team.

Founded in 2010, CLG is the oldest LOL team in the business, but also has teams heavily involved in five other esports games. The sports advisory company Catalyst Sports & Media brokered the deal. The price is a secret.

It’s the second big news story for CLG in 2016, after the team signed a sponsorship deal with the American energy drinks brand 5-Hour Energy.

“We have been actively exploring opportunities to enhance MSG’s portfolio of live experiences; we have been keenly interested in esports as a natural extension of our core business,” David O’Connor, President and CEO of the Madison Square Garden Company told ESPN. “The sport now stands on the verge of enormous change.”

Esports Prepares for Reality TV Debut

As part of this enormous change, the Esports Observer has noted that TV companies in Australia and South East Asia are preparing to bring esports to the world of Reality TV.

Yes, we are going to see millennials running around in their underwear in the claustrophobic setting of Big Brother style shows.

The Singapore-based production company, Spout Entertainment, and Asian media investor Aurora Media Holdings are planning to launch a project called Game to Fame. The ambitious multi-season Reality TV show doubles as a movie franchise with an initial focus on FIFA, before moving into the other three key games: Dota 2, League of Legends, and Counter-Strike: Global Offensive.

Spout Entertainment plan to leverage their 30 million unique global visitors across their broad range of media subsidiaries to make this thing work.

The second show is called The Next Gamer. Its focus is on League of Legends, with the winner taking home a $10,000 purse and a six-month contract in a yet to be determined esports team based in Australia.

The Next Gamer will broadcast entirely on YouTube.

It’s little wonder that esports is drawing the attention of the biggest sporting and TV broadcasting brands.

In a white paper created by BITKRAFT, the first dedicated esports venture fund, they assume that esports viewership will surpass 600 million eyeballs by 2019, earning $1.2 billion in advertising and sponsorship money.

A white paper created by the sportsbook BetGenius believes esports gambling has the capability of exceeding $3.3 billion in gross gaming revenue (GGR) in that same timeframe.

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