![]() ![]() Revenue figures in our table represent an estimate for 2020 and are separated into competitive gaming and related businesses, based on information provided by the companies. To compile this ranking, Forbes spoke to two dozen esports organizations, investors, advisors to investors, and analysts. “There’s not going to be one thing in gaming making you money.” METHODOLOGY “If your goal is just to be the Dallas Cowboys and just operate in competitive gaming, that is cool, but it’s a long way off,” says Andy Miller, CEO of NRG and co-owner of the NBA’s Sacramento Kings. NRG is worth an estimated $155 million this year, up 3%. Last month, the company opened the Castle, a funhouse, gamers’ version of a fraternity house and production studio to churn out digital content that can be sold to sponsors. ![]() Some of the gap was filled with its higher-margin online content business, including sponsored streams on Twitch and videos on YouTube. Revenue flatlined at Los Angeles-based NRG after its CDL and OWL teams had to cancel ticketed in-person events and stage them online for free. It’s an industry-wide reckoning that Sharma, the esports investment advisor, says will trim the weak, empower the strong and open up “very meaningful opportunities and upside.” "If your goal is just to be the Dallas Cowboys, that is cool, but it’s a long way off.” “Now some of those companies have to play catchup with those expectations.” “Many esports companies raised capital based on inflated expectations of how the market will come together, particularly in the U.S.,” says Jens Hilgers, founding general partner of esports investor Bitkraft Ventures and co-owner of G2 Esports, which ranks No. With revenue expected to fall to $8.5 million this year, the team’s value is less than half the $260 million Forbes estimated in 2019. ![]() Immortals is now reportedly shopping its OWL franchise. Last month, it sold its CDL franchise to 100 Thieves and its OpTic Gaming brand name, worth $10 million by Forbes estimates, to its original creator-Hector “HECZ” Rodriguez, now NRG Esports’ co-CEO-to use for that company’s Chicago-based CDL franchise. Live-event cancellations hit revenue by 23%, and the company began unloading teams. Over two years, IGC paid $58 million for city-based teams that compete in each of the three major franchise leagues: the Call of Duty League (CDL), the League of Legends Championship Series (LCS) and the Overwatch League (OWL). Among the hardest hit was Immortals Gaming Club, another Los Angeles-based group, which fell off the list because of a singular focus on competitive gaming. “What you have seen in the last year is other esports companies are catching on to what has been our philosophy from Day 1, which is to explore the outer reaches of what gaming can be,” says FaZe Clan’s CEO, Lee Trink.īut the losers outweighed the winners this year. FaZe now boasts over 230 million followers across all its related social platforms and is worth $305 million to rank No. FaZe’s lineup includes Nickmercs, one of the most popular gamers on Twitch and highest-paid in the industry, earning $6 million last year. The Los Angeles-based company generates 80% of its $40 million in revenue by focusing on creating videos around gaming culture and its stars. It’s a page borrowed from FaZe Clan’s playbook. In addition, 100 Thieves is dipping its toes into traditional sports in November, it signed YouTube stars 2Hype, who have amassed a following of 18 million subscribers through their basketball-themed challenge videos. In January, the company opened a 15,000-square-foot training facility and production studio, and in October, it signed with talent agency CAA for help getting its content distributed to mainstream platforms like Netflix and Amazon. Most of the company’s revenue has occurred outside of competitive play. The company, founded by former Call of Duty champion Matthew “Nadeshot” Haag, 28, expects to make $16 million in revenue this year, a leap of 60%. Valued at $190 million, 100 Thieves jumps to the fifth spot on our list, from No. TSM's League of Legends team is one of the most successful in the game. ![]()
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