Gfinity levels up in esports industry as growth accelerates
What it does
AIM-quoted Gfinity (LON:GFIN) is a world leader in the fast-growing market for esports.
The company provides full end-to-end esports solutions, including bespoke content, tournament and event solutions for commercial partners via its proprietary online platform and live broadcasting studio, plus it is building its owned Elite Series brand and hosting its proprietary Elite Series tournament format.
Revenues are derived from managed services fees for third-party events, and advertising and sponsorship.
Several big names have hired Gfinity to be its event partner and to look after the logistics of running a successful tournament, including none other than Microsoft.
The tech giant has partnered with Gfinity on numerous occasions, including for its Halo and Forza Racing championships.
Formula 1 has also used the company’s services to run its competition to find the best virtual racer in the world, as has the Premier League, which launched its ePremier League last year and in February 2020 appointed Gfinity to operate a US version of the tournament in partnership with the NBC Sports network.
The company also has a digital media group Gfinity Digital Media, which it launched in July to build on the excellent growth of its web channels and social platforms.
How it is doing
In March, the AIM-listed firm unveiled a new partnership between its Gfinity Digital Media (GDM) business and Magic Lamp Technologies, the owner of interactive video game map creator MapGenie.
Under the deal, GDM will embed MapGenie’s interactive video game maps into relevant articles across its network, allowing users to track their gameplay progress and access wider information and features.
It also signed a commercial agreement with IQONIQ, a fan engagement platform, to become its official esports and gaming partner for the next three years.
Gfinity also achieved its first quarterly profit in the three months to December, with a cash position of £1.7mln at the end of the period.
What the boss says: Talal Musa, head of GDM
“Through the integration of MapGenie’s highly popular interactive maps, we will add further depth to our popular editorial and video content, driving the improvement of core site metrics like returning users, bounce rate and dwell time. Our strategic focus is to drive deeper user engagement across our ecosystem and MapGenie will help us to provide an enriched user experience.”
“This partnership is the first of many initiatives the GDM will be rolling out over the next few months as we accelerate the growth and engagement of our users.”
Lockdown aside, analysts expect the industry to keep grabbing interest worlwide. At the moment it’s worth US$150bn, with an annual growth of 12% since 2015.