BAMTech just closed a deal with Tencent's Riot Games that gives it the exclusive rights to stream and monetize League of Legends competitions through 2023. WSJ reports the deal includes a minimum payment of $300 million.
It sounds like a lot but the eSports scene is very big, two months ago over 43 million viewers worldwide watched a championship held at the Staples Center in Los Angeles before a crowd of about 15,000 people.
BAMTech, a spinoff of MLB Advanced Media that counts Walt Disney Co. and the National Hockey League as stakeholders, plans to launch a streaming app for “League” in 2017 that will run on smartphones, PCs and other devices. It also will handle distribution of “League” content it streams on other platforms, such as Amazon.com Inc.’s Twitch.
League of Legends has over 100 million monthly players and is on track to generate $1.89 billion in revenue this year.