- September 29, 2021
- Posted by: Stratford Team
- Category: Business
Immortals Gaming Club, the professional video game organization backed by Meg Whitman and AEG, is restructuring its business as it seeks a more efficient and fiscally sustainable esports enterprise.
IGC is separating its brands into four distinct business units: the group’s Overwatch League franchise (the Los Angeles Valiant), a matchmaking platform (Gamers Club), a pro team based in Brazil (MIBR) and Immortals (which includes its main League of Legends franchise). Each individual unit is cash-flow positive, according to the company, which expects to enter 2022 with more revenue booked than it earned in all of 2021.
Professional video gaming has struggled in the COVID-19 pandemic, which arrived on the heels of a three-year stretch that saw massive investment in the space and a rush to create franchised leagues with structures akin to the NFL or NBA. Now a few of the industry’s more prominent organizations are beginning to rethink their…