OverActive Media Signs Agreement with Riot Games

OverActive Media Signs Agreement with Riot Games

Business

14 November 2024 21:22

OverActive Media has announced a long-term partnership with Riot Games, ensuring its continued participation in the League of Legends EMEA Championship (LEC). OverActive, which was awarded an LEC franchise in 2018, will continue to be in the League.

According to release, OverActive's expects a stronger market presence and opens new revenue streams, including expanded sponsorships, merchandise sales, in-game purchases, and media rights.

As part of the agreement, OverActive will also see a $2 million reduction in franchise fees due in 2025, removing those financial obligations from its balance sheet.

More:Funstop Games Secures $5 million

“With this agreement, we have eliminated all future franchise obligations from our balance sheet and we now own 100% of our franchises without any associated liabilities,” said Adam Adamou, CEO of OverActive Media. “This long-term partnership with Riot Games reaffirms our commitment to the League of Legends EMEA Championship and strengthens our strategic position in esports. We are excited to deepen our connection with fans and partners through our continued participation in the LEC, as we focus on delivering sustainable, long-term value for our shareholders.”

Tags: OverActive Media

Share:

Sources:

Report mistake   

Submit news   

Related news

View All

OverActive Media Partners with CUPRA

OverActive Media announced a new partnership with car manufacturer CUPRA. According to the deal CUPRA logo will be displayed...

Business

Apr 24, 2024

KOI and Movistar Riders Acquisition Completed

OverActive Media has announced the acquisitions of Spanish esports organizations KOI and Movistar Riders. Furthermore, Ibai Llanos and...

Transfer Market

Mar 04, 2024

OverActive Media Partners with Blacklyte

OverActive Media announced a new partnership with Blacklyte. As a result of the partnership Blacklyte will have access to...

Sponsorships

Jan 26, 2024

OverActive Media to Acquire KOI and Movistar Riders

OverActive Media announced that they signed a letter of intent to acquire KOI and Movistar Riders at the same...

Business

Jan 04, 2024

OverActive Media Reveals Financial Results

OverActive Media revealed its Q3 2023 financial results. Adam Adamou, CEO, OverActive Media stated “The positive momentum is a...

Business

Nov 22, 2023

OverActive Media Signs Agreement with Riot Games

Business

14 November 2024 21:22

Tags: OverActive Media

OverActive Media has announced a long-term partnership with Riot Games, ensuring its continued participation in the League of Legends EMEA Championship (LEC). OverActive, which was awarded an LEC franchise in 2018, will continue to be in the League.

According to release, OverActive's expects a stronger market presence and opens new revenue streams, including expanded sponsorships, merchandise sales, in-game purchases, and media rights.

As part of the agreement, OverActive will also see a $2 million reduction in franchise fees due in 2025, removing those financial obligations from its balance sheet.

More:Funstop Games Secures $5 million

“With this agreement, we have eliminated all future franchise obligations from our balance sheet and we now own 100% of our franchises without any associated liabilities,” said Adam Adamou, CEO of OverActive Media. “This long-term partnership with Riot Games reaffirms our commitment to the League of Legends EMEA Championship and strengthens our strategic position in esports. We are excited to deepen our connection with fans and partners through our continued participation in the LEC, as we focus on delivering sustainable, long-term value for our shareholders.”

Share:

Sources:

Report mistake   

Submit news   

Related news

View All

OverActive Media Partners with CUPRA

OverActive Media announced a new partnership with car manufacturer CUPRA. According to the deal CUPRA logo will be displayed...

Business

Apr 24, 2024

KOI and Movistar Riders Acquisition Completed

OverActive Media has announced the acquisitions of Spanish esports organizations KOI and Movistar Riders. Furthermore, Ibai Llanos and...

Transfer Market

Mar 04, 2024

OverActive Media Partners with Blacklyte

OverActive Media announced a new partnership with Blacklyte. As a result of the partnership Blacklyte will have access to...

Sponsorships

Jan 26, 2024

OverActive Media to Acquire KOI and Movistar Riders

OverActive Media announced that they signed a letter of intent to acquire KOI and Movistar Riders at the same...

Business

Jan 04, 2024

OverActive Media Reveals Financial Results

OverActive Media revealed its Q3 2023 financial results. Adam Adamou, CEO, OverActive Media stated “The positive momentum is a...

Business

Nov 22, 2023