Danish esports organization Astralis have revealed their financial performance for 2020 through their newly-published annual report.
Astralis Group, the company behind the well-known brand that competes in multiple titles, is a public company and thus have to post their financial results publicly.
Competing in Counter-Strike: Global Offensive, League of Legends, and FIFA, the org is said to have generated total revenue of $8.26m — a figure that was “in line with expectations” according to the report. Their CS:GO division brought in almost $6m of revenue, with their LoL and FIFA teams generating around $1.3m and $240k respectively.
However, despite raising millions of dollars, things don’t appear to be too great on the surface. The group saw a total loss of $8.5m and posted an EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of -$2.3m.
The group have invested in multiple leagues, acquiring long-term slots across two of esports’ biggest titles: Counter-Strike and League of Legends. They hold spots in CS:GO circuits BLAST and ESL Pro League, as well as the premier European League of Legends competition LEC.
Astralis Group used to operate three brands — Astralis, Origen, and Future FC — but consolidated the teams under the Astralis brand in September 2020. Just one month later, their League of Legends squad was fined almost $6,000 by Riot Games due to alleged missed salary payments and “conduct unbecoming of an LEC Team Manager.”
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They have an interesting revenue split for the year, according to the report. 66% of revenue generated came from sponsorship, 27% from prize money and league revenue, 3% from merchandise, 2% from royalties, and the remaining 2% from “other revenue.”
https://twitter.com/astralisgroup/status/1371400763319128066
Astralis Group established numerous new commercial partnerships throughout the year, undoubtedly helping them to minimize losses during a year where offline events were postponed or outright canceled. They also sold CS:GO player Patrick ‘es3tag’ Hansen to Cloud9 in a $2.1m deal just six months after signing him.
They announced deals with the likes of wearable tech company Garmin, Universal Music Group, sports brand Hummel, audio brand Bang & Olufsen, bank app Lunar, market search firm Userneeds, and analytics firm Cavea.