Forbes unveiled its list of the most valuable esports companies in 2022 amid industry challenges that have forced businesses to diversify.
The top 10 esports companies are worth an average of $353 million, a 46% increase compared to December 2020.
FaZe Clan announced plans in October 2021 to go public through a merger with blank-check company B. Riley Principal 150 Merger Corp., valuing the combined entity at $1 billion. The deal would give FaZe the highest-ever valuation for an esports company, surpassing TSM.
FaZe’s plan to go public has come with risks. Last month, the company submitted an amended filing to the SEC indicating that FaZe posted an adjusted EBITDA loss of $28.7 million in FY2021, compared to a projected loss of $19 million.
It also reported that $24.8 million of the $53 million in revenue generated in 2021 came from brand sponsorships. FaZe saw its net losses increase 28% year-over-year in 2021.
Sony has announced that it’s leaning further into the gaming space — this time, within its own studios.
On Tuesday, Roblox reported less-than-expected earnings for the first quarter as bookings.
Electronic Arts announced its relationship with FIFA has officially ended after nearly 30 years — hours before the company failed to meet expectations with its latest earnings report.
Embracer Group has entered an agreement to acquire Crystal Dynamics, Eidos, and Square Enix Montreal for $300 million.
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