FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “UMG Enters into an Agreement to Acquire Victor’s Gold LAN and Casino esports Platform Provider.”
UMG Media Ltd. (TSX-V: ESPT) has entered into an agreement to acquire Victor’s Gold. Victor’s Gold is a game mode development company, which provides operators with a platform to run unique events in managed e-sports titles.
UMG Online is an eSports website, a high-quality next-generation gaming experience. With origins as a LAN event provider, the company is now set to branch out into the online gaming world. The daily source for tournaments and ladders, offered on multiple games across various platforms.
The company’s professional staff will provide the best and fairest gaming services for all users. As gamers themselves, UMG understands the mechanics of good gameplay and what is needed to ensure an enjoyable, competitive atmosphere. UMG Online is community based, users and their needs will always come first.
With the growth of the eSports industry, gaming has now become a credible career among the youth. Millions of teenagers and young adults around the world are actively striving to become professional players because of the attractive annual income. For instance, Dota 2 player Kuro “KuroKy” Salehi Takhasomi is the highest-earning player in eSports history and collectively earned over USD 4 Million in tournament winnings. However, his earnings do not even include income he may have generated from sponsorships and brand deals. On the other hand, Michael “Shroud” Grzesiek, who was formerly a professional eSports player, has transitioned to the media and casual side of the gaming industry. Based on his Twitch metrics, it is projected the Grzesiek nets approximately USD 4.4 Million in annual revenue. Thanks to high-profile cases like these, the lucrative market has now caught the attention of individual players as well institutions. In particular, a handful of universities and colleges have begun to offer students scholarships as well as courses for eSports. For example, the University of California, Los Angeles(UCLA) and Ohio State University (OSU) both offer eSport courses as well as degrees. And UCLA has even created varsity eSports teams for popular games such as League of Legends, Overwatch, Dota 2 and Hearthstone. Similarly, OSU offers students scholarships for its eSports teams, but in addition, the school also boasts it eSports arena where players train and compete. As of now, only a handful of postsecondary institutions offer eSport curriculums, but as the industry continues to flourish, other institutions may adapt to the changing job market. According to data compiled by Ovum, the global eSports market was valued at USD 733 Million in 2017. By 2022, the agency expects the market to reach USD 1.9 Billion while growing at a CAGR of 20.7%.
For many young adults, the thought of getting paid to play videos is a dream. However, professional players have explained the daunting and grueling process of the industry. Matthew “HotanCold” Stevens, a professional Rainbow Six Siege player for Dark Zero Esports, explained in an interview with WRAL Techwire the routine that professionals undergo on a daily basis. Stevens explained that a normal routine is waking up at 9:30 AM and conducting team workouts from 10 to 11 AM. Typically, the team engages in free weight exercises or runs. After the workouts, the team will practice strategies and tactics in the game from 11:30 AM to 9 PM. While many young adults may find it entertaining to be able to play their favorite games for hours each day, former professionals have voiced their experiences on the matter. Retired professional player, Dennis Fong said that players are essentially expected and required to play a single game as a full-time career. Fong noted that it deters players from pursuing relationships as well as taking part in other daily life activities. During the inception of the eSports industry, it was typically a band of players, training for hours each day to compete against other top-level players. Many said that they get burnt out easily and found no motivation to play on. Nowadays, many professional teams have implemented medical personnel and trainers such as psychiatrists and physical therapists to prevent adverse physical and mental damage. Many organizations, whether they’re a professional team or a school’s roster, strive to provide players with elite treatment in order to avoid long term risks. And with the pace the eSports industry has been growing, more and more individuals and schools have been attempting to create teams. “It’ll be transformative and a way to engage students that right now education is missing out on,” said North American Scholastic Esports Federation Commissioner Mark Deppe. “When I look at esports, I see it as uncharted territory and there is risk involved, but that’s when you find the reward as well.”
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