Forbes has released its top-ten list of the most valuable esports companies in the world, with Los Angeles-based Team SoloMid (TSM) at the top. The list comes at a time when the industry is suffering from the inability to hold live events due to the ongoing COVID-19 pandemic. The lack of sold-out tournaments in turn led to fewer merchandise sales, media rights, and sponsorships.
While most esports leagues were able to transition online, international tournaments were hit the hardest. Though the 2020 League of Legends World Championship managed to be held in Shanghai, China with incoming teams doing the mandatory two-week quarantine (though the Vietnamese representatives were unable to attend due to travel restrictions), CS:GO majors and the Dota 2 International were not so lucky, and have been canceled or greatly delayed.
Forbes spoke to "two dozen esports organizations, investors, advisors to investors, and analysts" in order to compile its rankings which are as follows:
- Team SoloMid — $410 million
- Cloud9 — $350 million
- Team Liquid — $310 million
- FaZe Clan — $305 million
- 100 Thieves — $190 million
- Gen.G — $185 million
- Enthusiast Gaming — $180 million
- G2 Esports — $175 million
- NRG Esports — $155 million
- T1 — $150 million
While Cloud9 in second place and Team Liquid in third place experienced a -13% and -3% respective decrease in value considering that majority of their revenue comes from esports, FaZe Clan in fourth place saw a +27% increase with only 20% of its estimated $40 million revenue coming from esports. The Los Angeles-based organization has considerable presence as a lifestyle and streetwear brand, having signed basketball players LeBron "Bronny" James Jr. and Ben Simmons as ambassadors. The group has also collaborated with English soccer team Manchester City and the estate of the late rapper Juice WRLD.
The biggest riser was Enthusiast Gaming, who entered the list for the first time in seventh place. The Toronto-based organization purchased Omnia Media for $38 million this year, adding the likes of Pokimane, shroud, and MrBeast to its portfolio. The company, which is publicly listed on the Toronto Stock Exchange, only considers 6% of its $95 million revenue to come from esports. The group is Luminosity Gaming's parent company and holds franchise spots in the Call of Duty League and the Overwatch League.
Another team that also made its first appearance on the list was South Korean team T1 in tenth place. The organization is the joint venture between Korean telecommunications operator SK Telecom and American sports company Comcast Spectacor and has teams in League of Legends, VALORANT, and Fortnite. Its League of Legends team recently collaborated with K-pop boy band BTS.
Source: Forbes