CMG Holdings, Inc. Announces Partnership With Good Gaming, LLC "eSports" Video Game Competitions
(ACCESSWIRE (Canada) Via Acquire Media NewsEdge) Category: Baystreet Newswire
Company: TackleBox Newswire
Date: Tuesday, October 22, 2013
CMG Holdings, Inc. Announces Partnership With Good Gaming, LLC “eSports” Video Game Competitions
October 22, 2013 / Chicago, Illinois / ACCESSWIRE / CMG Holdings Inc. (CMGO-OTCBB) is pleased to announce the company has formed a partnership with Good Gaming LLC. “Through this partnership we plan to use the synergy between XA and Good Gaming to assume the number one spot for Amateur/Collegiate level eSports,” said Jeff Devlin, CEO of CMG Holdings, Inc.
“eSports”, is a general term used to describe video game competitions. Much like athletic sporting events, eSports games are often played before live audiences and are also broadcast over the Internet. eSports is a massive force coming this way and currently there is only a small amount of exposure on a social level in the US. In Korea, it is as popular as any traditional sport. In 2005, 120,000 people in Korea filled a stadium to watch the “Starcraft” championship.
Some interesting statistics for eSports:
- There are 400 million players of multiplayer online games in the world. This compares to 500 million fans for Formula 1, the #2 worldwide sport (behind soccer).
- There is $500 million of secondary market activity in the multiplayer world (buying and selling of accounts and in-game services.
- The “League of Legends” 2012 championship had 8.3 million viewers. To put that in perspective, the seven games of the 2013 NBA finals between the Miami Heat and San Antonio Spurs averaged 17.7 million viewers per game. NBC is jumping for joy with the 2013 NHL Stanley Cup averaging 5.4 million viewers per game after four games – significantly less than the “League of Legends” championship.
- The “League of Legends” 2012 championship prize pool was $5 million. The Masters had a prize pool of $8 million in 2013.
- The average gamer plays 22 hours/week while the average American watches TV 28 hours/week. The average gamer only watches TV 7.7 hours/week.
- 40% of all gamers are female.
CMG Holdings Inc. intends to use the rising popularity of eSports and the unique skill set we have fostered over the last year with Good Gaming to provide rich media content and a one of a kind gaming life style experience to millions of amateur gamers. While the upper echelons of eSports are well on their way to a healthy existence there is still a Grand Canyon sized chasm between your average player and the well backed professional eSports player. CMG Holdings Inc. plans to focus its efforts in this space and essentially be the creators of the link between these two groups – in simple terms creating the “minor leagues of eSports”.
CMG Holdings Inc. believes this partnership and our overall approach will provide us two distinct advantages that will be attractive to shareholders.
“First, there is a high barrier to entry into this space, requiring a significant time investment to build the crucial relationships with key social nodes. This barrier is one that cannot be solved with a large capital infusion alone. By partnering with Good Gaming we take a significant leap forward in this process which we believe will immediately place us in a leadership position.”
“Secondly, unlike traditional business models we believe we will be profitable in the first year. Our unique approach with successful implementation will provide rapidly increasing margins and scaling ability while reducing costs, which is a very attractive component of this business space, ” said CMGO CEO, Jeff Devlin .
CMG Holdings Inc. estimates with successful implementation, first full year revenue will range from $1-$3 million. CMG Holdings Inc. projects by year three revenue will increase by over 400% and profitability should be extremely solid.
In the coming months CMG Holdings Inc. will be issuing updates as we develop our cutting-edge platform and further work through our planned soft opening for our unique eSports website.
About CMG Holdings, Inc.
CMG Holdings Group, Inc., a marketing communications holding company, engages in the acquisition and operation of organizations in the alternative advertising, digital media, experiential and interactive marketing, entertainment, and Internet content publication and distribution technology sectors. Its experiential marketing business is involved in the production and promotion, event design, sponsorship evaluation, negotiation and activation, talent buying, show production, stage and set design, and data analysis and management activities; and the provision of branding and design services to provide its clients with custom private digital media networks to design and develop individual broadcasting digital media channels to sell, promote, and enhance their digital media video content through mobile, online, and social media. The company?s event management business engages in marquis hospitality, sponsorships and licensing, broadcast production, and implementation of events, including hospitality services to clients in sports sectors. Its Internet content publication and distribution software business offers embedded audio navigation, and Internet content publication and distribution software that enable the conversion of any media into accessible formats, as well as allows for real time distribution to end users on any Internet connected device; and solutions that include e-learning and e-commerce systems, and Internet publishing products and services that enable customers to create and deliver Web-based applications. The company’s commercial rights business is involved in branding, consulting, endorsement, licensing and sponsorships, and sales and marketing; and talent management business manages personalities in the entertainment and arts, athletes, and literary industries. The company serves clients across the marketing communication industry. CMG Holdings Group, Inc. is based in New York, New York.
Forward looking statements:
Although these forward-looking statements are believed to be true when made, they may ultimately prove to be incorrect. These statements are not guarantees of the future performance of CMG and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.
For more information:
At The Company:
Mr. Jeff Devlin, CEO
Source: CMG Holdings Inc.
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