OverActive Media Welcomes Riot's Vision for
Esports
TORONTO, March 15,
2024 /CNW/ - OverActive Media (TSXV: OAM) (OTC:
OAMCF) ("OverActive" or the "Company"), a premier
global esports and entertainment company for today's generation
of fans, today responded to Riot's proposed changes for League
of Legends esports contained in a blog post1 by
John Needham, President of Esports, Riot Games. OverActive is
fully committed to working alongside Riot Games in this
transformative process.
Riot Games' proposed model aims to ensure the sustainability of
LoL Esports, focusing on more predictable revenue streams for teams
through enhanced partnerships and innovative in-game digital sales
strategies. This performance-based approach is consistent with
OverActive's vision for a robust and dynamic esports ecosystem,
where the emphasis on shared success plus additional upside for
high performing organizations underpins future growth.
"MAD Lions KOI, our League of Legends franchise, has
consistently been a top performer in the LEC, securing multiple
championships, making regular appearances at the Mid-Season
Invitational (MSI), and never missing a World Championship since
joining the LEC in 2019. We also lead in peak viewership and
average minute audience (AMA) in 2024, underscoring our commitment
to competitive success and fan engagement," stated Adam Adamou, CEO of OverActive.
"OverActive sees this as an opportune moment to also revisit
discussions around the payment of franchise fees with Riot Games,"
added Adam Adamou. "As part of this
collaborative process, we aim to explore adjustments to these fees
by seeking terms that reflect the evolving esports ecosystem and
that support our mutual goals for sustainability and growth."
ABOUT OVERACTIVE MEDIA
OverActive Media Corp. (TSXV: OAM) is headquartered in
Toronto, Ontario, with operations
in Madrid, Spain and Berlin, Germany. OverActive's mandate is to
build an integrated global company delivering sports, media and
entertainment products for today's generation of fans with a focus
on esports, videogames, content creation and distribution, culture,
and live and online events. OverActive owns team franchises in
professional esports leagues, including the Call of Duty League,
operating as the Toronto Ultra, the League of Legends EMEA
Championship (LEC), operating as MAD Lions KOI, the VALORANT
Champions League (VCT) EMEA, operating as Movistar KOI and other
professional esports leagues and competitions.
Cautionary Note Regarding
Forward-Looking Information
This press release contains statements which constitute
"forward-looking statements" and "forward-looking information"
within the meaning of applicable securities laws (collectively,
"forward-looking statements"), including statements regarding the
plans, intentions, beliefs and current expectations of OverActive
with respect to future business activities and operating
performance. Forward-looking statements are often identified by the
words "may", "would", "could", "should", "will", "intend", "plan",
"anticipate", "believe", "estimate", "expect" or similar
expressions and includes information regarding the anticipated
financial and operating results of OverActive in the future.
Investors are cautioned that forward-looking statements are not
based on historical facts but instead OverActive management's
expectations, estimates or projections concerning future results or
events based on the opinions, assumptions and estimates of
management considered reasonable at the date the statements are
made. Although OverActive believes that the expectations reflected
in such forward-looking statements are reasonable, such statements
involve risks and uncertainties, and undue reliance should not be
placed thereon, as unknown or unpredictable factors could have
material adverse effects on future results, performance or
achievements of the OverActive. Among the key factors that could
cause actual results to differ materially from those projected in
the forward-looking statements include the following: the potential
impact of OverActive's qualifying transaction on relationships,
including with regulatory bodies, employees, suppliers, customers
and competitors; changes in general economic, business and
political conditions, including changes in the financial markets;
changes in applicable laws and regulations both locally and in
foreign jurisdictions; compliance with extensive government
regulation; the risks and uncertainties associated with foreign
markets; the ability of the Company to continue to execute on its
existing partnerships and business strategy; the ability of the MAD
Lions and Call of Duty Leagues to maintain viewership; the
successful completion of the Company's new venue; and other risk
factors set out in OverActive's annual information form for the
year ended December 31, 2021 and its
other filings with Canadian securities regulators, copies of which
may be found under OverActive's profile at www.sedarplus.ca. These
forward-looking statements may be affected by risks and
uncertainties in the business of OverActive and general market
conditions, including COVID-19.
Should one or more of these risks or uncertainties materialize,
or should assumptions underlying the forward-looking statements
prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed,
estimated or expected. Although OverActive has attempted to
identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended and
such changes could be material. OverActive does not intend and do
not assume any obligation, to update the forward-looking statements
except as otherwise required by applicable law.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
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1
https://www.riotgames.com/en/news/lol-esports-strategy-adjustments-2024
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SOURCE OverActive Media