By Alexander Lee – December 18, 2024 –
After an enthusiastic, however abortive, effort to diversify its organization in 2023, the esports group 100 Thieves refocused on brand name collaborations in 2024– and was rewarded by a substantial increase in sponsor interest.
100 Thieves' restored concentrate on sponsorships has actually currently settled. After signing 11 brand-new sponsors and accomplishing a 50 percent sponsorship renewal rate in 2023, the org handled to cause 23 brand-new sponsors in 2024, consisting of brand names such as Crocs, Adidas and Google Play, with a renewal rate of 75 percent over the previous twelve months, according to numbers shown Digiday by 100 Thieves. Business associates decreased to define the particular dollar worth of its sponsorship offers, which usually include the brand name paying the group a charge in exchange for a set variety of deliverables, such as social networks posts, material pieces and jersey logo design slaps, along with more bespoke customized activations.
In spite of lots of esports business' efforts to get away the discomfort of brand names' diminishing marketing budget plans, 100 Thieves' development over the previous year demonstrates how the market at big remains depending on marketing to survive, for much better or even worse.
Based in Los Angeles, 100 Thieves was established by previous professional player Matthew “Nadeshot” Haag in 2017, constructing a fan base in the millions thanks to its group of popular creator-owners and hip, streetwear-inspired visual. In between 2021 and 2023, 100 Thieves went on a diversity spree by obtaining the peripherals business Higround, releasing an energy beverage and opening a video game advancement arm, efforts led by then-CEO Haag in a specific effort to diversify the group's service and lower its reliance on esports brand name collaborations.
100 Thieves' push to diversify led to a lowered focus on the business's brand name collaboration company, which formerly formed the lifeline of its income method. Feeling overlooked, sponsors started to leap ship, and the whole business suffered as an outcome, with 100 Thieves laying off approximately 15 percent of its personnel in 2015. At the end of 2023, the business spun off its energy beverage and video game advancement companies and revealed that it would refocus on its core item of esports.
100 Thieves' choice to refocus on esports– and the sponsorships it brings– was marked by modifications throughout the group's executive management group. In March 2024, previous COO John Robinson entered an advisory function and was changed by Julie Van, who formerly acted as 100 Thieves' svp of individuals; Jacob Toft-Andersen, previously the org's vp of esports, rose to president; and Haag has actually silently gone back from his CEO obligations to refocus on material development, although some main business products still describe him as CEO.
“For the very first 4 years, Matt remained in practically every conference. He was associated with the daily; he was making imaginative choices, company choices. And over the last couple years,
