CSGO Esports League of Legends

Astralis Group Register a “Satisfactory” 2020 Despite a $8.5M Total Loss

Astralis 6th Logo

In its newly-published public report posted this Monday, Astralis Group presented its financial results for 2020, a year in which the company registered a total loss of $8.5M. Despite that, Astralis deems these results as “expected”, pointing to a general growth compared to 2019.

The Astralis brand has established itself on various titles such as Counter-Strike, FIFA and most recently League of Legends, through the merging of Origen.

Out of all these, it was the CS:GO division the one to present the most profit, with a number of successful tournament runs and the transfer of Patrick ‘es3tag’ Hansen over to Cloud9 amounting to nearly $6M of revenue.

Its European League of Legends team, which placed second-to-last in the LEC Standings, has also gathered around $1M, with the FIFA presenting the lowest earnings at $240,000.

Nevertheless, the Danish company has seen the results as “satisfactory” given the economic toll of the ongoing global pandemic, with an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of -$2.3M in a year where LAN events were largely absent.

Astralis CS:GO was only present at two LAN events during 2020 (Credit: BLAST)

In a year where the effects of the global pandemic effectively delayed our growth plans by 9-12 months, we are satisfied with the result and our development of the business.

Anders Hørsholt, Astralis Group CEO

According to its CEO, the increase of value in league franchise rights and the media rights income has been essential for the growth of the industry during this difficult economic period, pointing out that the value of these rights might increase even further in the future.

The company also revealed the origin of this revenue, with 66% coming from sponsorships, 27% from prize money and league revenue, 3% from merchandise, 2% from royalties, and the remaining 2% from “other revenue.”

It has been a big year for Astralis sponsorships, with the Danish brand signing with tech companies such as Garmin and establishing partnerships with mass-market brands such as Universal Music Group and Hummel.

Enjoy this piece? Don’t forget to share our work with the buttons below. Also, be sure to follow us on Twitter to get the latest gaming news straight to your feed.