MTG Invests in ESL
Modern Times Group (MTG) invests in the world’s largest eSports company, ESL. MTG purchased a 74% share of ESL for almost $87 million (P3.9 billion), serving as a key milestone in the company’s digital development.
MTG is one of the leading digital entertainment companies that operates in television, online services and radio stations and they will be working alongside Turtle Entertainment, a digital entertainment company under ESL that promotes eSports.
According to Jørgen Madsen Lindemann, MTG President and CEO, eSports has become one of the fast growing industries and it has a lot of potential. The number of eSports enthusiasts is almost the same number of enthusiasts in Hockey and it will still continue to grow as there are more advancements in technology and video games.
“We look forward to working with the talented Turtle team to grow the global esports community, and to make this exciting content even more broadly available online and on TV,” said Lindermann.
With the success of ESL in eSports, MTG aims to work with ESL in taking video streaming of tournaments to the next level and even aiming to reach the mainstream audiences. Ralf Reichert, Managing Director of Turtle Entertainment shared his excitement on the said investment and he said that it will help bring ESL and eSports to many more places around the world.
“The ESL leadership team could not be more excited about accelerating the development of the entire eSports industry together with MTG for years to come.”
Aside from MTG, Amazon also eyed the huge potential of eSports and acquired Twitch for $970 million (P43.8 billion) last 2014.
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