RightBridge Ventures Group AB ("RightBridge" or the "Company") has previously communicated to update the market through market and operational updates. RightBridge now communicates an update regarding the latest growth presented on November 30 and an overview of the market in esports and gaming.
SUMMARY MARKET AND OPERATIONAL UPDATE
- RightBridge VenturesGroup's Esports and Gaming business shows 68% organic revenuegrowth in the first 9 months of the year.
- GAMERS aren't just teenagers.
- Gamers are overrepresented as consumers
- Tricked is presented in the Swedish national broadcasting channel SVT documentary ("Esport from within")
- Esports and gaming are the spearhead of WEB 3.0's social transformation.
- MENA region: the next "powerhouse" in esports and gaming.
THE OPERATIONAL HIGHLIGHTS
- Revenue for RightBridge ventures Group's esports and gaming business for the first three quarters of 2022 is growing by 68%, more than 3 times faster than the market.
Currently, the esports industry is growing by about 22% on a year-on-year basis. The operational highlights were presented in the voluntarya pro forma information that was an addendum in the latest quarterly report, which was communicated to the market on November 30, 2022.
There, net sales for the first 9 months were presented, which amounted to almost SEK 8 million. RightBridge Ventures AB's net profit for the period January to September 2022 shows a profit of SEK 2.5 million. This result is primarily due to a combination of revenue growth for the period, as well as several cost measures that are part of the portfolio companies' business transformation, as well as depreciation (non-cash item) of previous shareholders' loans in the company Team Singularity.
- Lilmix's position as a top-tier Scandinavian CS:GO team is cemented with the recent qualification for the FragLeague semi-finals. Lilmix also won the title last year. In addition, Lilmix has created a non-profit association with the aim of making esports accessible to a wider audience.
- Team Singularity won the South America regional playoffs for the APEX Legends Global Series (ALGS) World Championship and now the APEX team is rated as the best in South America. ALGS has a prize pool of SEK 18 million. APEX is a battle royal gaming game played by over 128 million people worldwide. In addition, Team Singularity signed a $60,000 agreement with MAS Holdings to operate and sponsor their gaming wearable’s technology under the GAMERTECHTM brand.
- Music Gaming Arenas (muga.espl.gg) collaboration between ESPL and Warner Music Thailand has resulted in two new events. MUGA Arena is a collaboration between Warner Music and ESPL that launched earlier this year to create engagement between music artists and music fans combined with esports for the ultimate fan event.
- Knacks successfully closed the "Graj Swoje" (https://www.grajswoje.pl/) campaign. Together with NTT, Knacks created a special series of six episodes for the YouTube channel with one of Knack's talents - Michał "Miszel" Niedziałkowski who conducted interviews with invited guests. The serie of events were aimed at young mentees in FPS gaming (First Person shooter gaming) who will improve their skills, from gaming to mental training.
- Tricked Esport is presented in Sveriges Television "Esport from within" – only in Swedish, as one of the companies that drives esports development with a strong value base and for a societal development.
MARKET HIGHLIGHTS
- GAMERS aren't just teenagers. According to Deloitte's analysis from February 2022, 48% of hardcore consumers of gaming and gaming content are so-called "Millenials", compared to 27% who are "GENZ".
- Gamers are overrepresented as consumers. Gaming and esports' consumption in the Nordic countries and Poland is among the highest in the world. In both cases, esports and gaming content is consumed by over 30% of both countries' total consumer population 18 – 99 years. RightBridge owns the company Knacks, which has its home ground in Poland. Here, the Company sees a great development opportunity.
- E-sports and gaming are the spearhead of WEB 3.0's social transformation. E-sports and gaming are catalysts for WEB 3.0's social transformation. Web 3.0 provides the ability to democratize the entire online experience, enable users to regain control of their data, and open the door to mass customization with one or more digital twin identities. In the past, gaming development was driven by computer hardware, platforms or search engines that have created the foundation for today's digital media conglomerates - Meta and Alphabet. Today, however, the esports and gaming companies as well as users are at the merge of social digital media and the WEB 3.0 technology (blockchain, artificial intelligence, machine learning ...). An entire digital generation today is learning to create new social and economic rules for the digital twin society, the analog a and digitala. At the same time in these changes, knowledgeable brands are creating new products, distribution channels and media that challenge the oligopoly of traditional digital media conglomerate. RightBridge Ventures Group's portfolio companies are contributing to these changes and helping brands find their audience and new markets.
- MENA region: the next powerhouse for esports and gaming. With its tech-savvy and young demographics — about half the population of Saudi Arabia, the United Arab Emirates and Egypt are under the age of 30 — the outlook for esports in the MENA region is particularly brightNewzoo predicts a compound annual growth rate of 15.1% by 2024, compared to 10% globally. Saudi Arabia's gaming industry alone, was worth $1 billion in 2021, according to Niko Partners, and a new report from Boston Consulting Group suggests this could reach up to$6.8 billion by 2030.'
- No one is more aware of the enormous potential of the Middle East than the big gaming companies and hardware manufacturers, who have spent the last few years staging high-profile esports tournaments all over the world to optimize local fan engagement. In April, California's announced Riot Games, one of three dominant gaming publishers in the region. That they along with Chinese Tencent and French Ubisoft, and the American tech giant Intel. Will jointly expand this year's IAC tournament - their third esports collaboration in the Middle East and will then have a prize pool of $130,000
- "Mena-gaming will exceed unprecedented heights, following the jump seen in 2020-21, due to the Covid-19 pandemic. Expected sustained growth for the markets. Gaming content localization and Web3 are other key drivers, RedSeer says. In addition, the growing influx of consumers from "underrated cohorts," which women and Gen X (between the ages of 41 and 56) is bringing gamers to the industry, the consulting firm says.
- In the Emirates, nearly 64 percent of adult men are online and 58 percent of online women are interested in digital gaming, while Saudi has 68 percent of male gamers online and 69 percent of female gamers online, according to the report.
- More than one in five gamers in the Mena region participate in play-to-earn gaming, among other things, to supplement their income.
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For further questions, please contact:
Carlos Barrios - CEO RightBridge Ventures Group AB
Telefon: +46 705 112579
E-post: carlos.barrios@rightbridge.se
RightBridge Ventures is a compounder and investment company based in Stockholm (Sweden) dedicated to investing in companies that shape the future of esports and gaming as part of the digital media and entertainment industry. For more information visit www.rightbridge.se or get updates by following us on Twitter on Instagram and LinkedIn.
RightBridge Ventures Group AB (publ)'s shares are traded on the Nasdaq First North Growth Market and Amudova AB is a Certified Adviser.
