Riot Games and MLB's BAMTech will join forces to stream League of Legends content in the future, as announced by Riot Games.
In the deal, BAMTech will pay at least $300 million US dollars up to 2023 for the rights to League competitions, and then they plan to launch a streaming app for the competitions next year. This app will run on smartphones, PCs, and more. What's more, BAMTech will also handle the game's content on other platforms such as Twitch.
Revenue beyond $300 million will be shared, although the percentage of the split is unknown. "No other sport has seen this kind of global online audience for live events," commented Bob Bowman, president of MLB's business and media, and chief of MLB Advanced Media.
"Our goal has always been to build 'League of Legends' into a major global sport," added Jarred Kennedy, director of esports at Riot. "We want our sport to be funded by itself and we think this deal is going to help us get there."
"This is a game changer for our sport," Riot said in the announcement. "As we've said in the past, true economic sustainability is a critical means to ensuring a sport that lasts, and this represents a major step towards that goal. As an innovator in digital sponsorship and media sales, BAMTech will help us unlock long-lasting and meaningful value for our digital sport as it matures. In BAMTech, we have found a partner equally committed to building professional League of Legends towards the lasting future we believe in for teams, players and fans. We're honored by their faith and belief in our sport."
Do you think the deal will be a success in the future?