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OverActive Media Corp. and Abigail Capital Corp. have received conditional listing approval from the TSX Venture Exchange in connection with the qualifying transaction as described in Abigail's prior press release dated April 19, 2021, and have filed a filing statement in connection with the transaction, which is available under Abigail's SEDAR profile. Further to the comprehensive news release dated April 19, 2021, OverActive will amalgamate with a wholly-owned subsidiary of Abigail in order to facilitate the completion of the Qualifying Transaction. Upon completion of the Qualifying Transaction, the resulting company will continue to carry on the business of OverActive. The completion of the Transaction is subject to a number of conditions, including but not limited to final TSXV acceptance, and satisfaction of other customary closing conditions. Closing of the Transaction is expected to occur during the week of July 5th.
TGS Esports Inc. ("TGS" or the "Company") (TSXV: TGS) (OTCQB: TGSEF) (FRA: 5RH) is pleased to announce its grand re-opening for live events, starting with Pinnacle–Canada's first post-pandemic live esports event–hosted at the world-class Vancouver Convention Center. The event will run for three days, offer a $20,000 prize pool, and expects to draw 2000+ attendees from across North America. Pinnacle, which TGS first launched in 2018, is one of Canada's largest and most renowned esports events. This year's event builds on the success of previous Pinnacle events and will benefit from key acquisitions TGS has made including: New fighting game events hosted by Even Matchup Gaming, Scholastic and collegiate events hosted by Volcanic, Meet and greet with pro players organized by Discover, and a more immersive tournament experience powered by Pepper.
BBTV Holdings Inc. (TSX: BBTV) (OTCQX: BBTVF) ("BBTV" or the "Company"), today announced that it has filed its Notice of Intention to make a Normal Course Issuer Bid ("NCIB") with the Toronto Stock Exchange ("TSX"). The NCIB remains subject to approval by the TSX. BBTV believes that share purchases pursuant to the NCIB will contribute to the facilitation of an orderly market and be in the best interests of the Company and its shareholders. In the event that BBTV believes that its subordinate voting shares ("Subordinate Voting Shares") begin trading in a price range that does not adequately reflect their underlying value based on BBTV's business prospects and financial position, BBTV may purchase Subordinate Voting Shares pursuant to the NCIB.
Acquisitions, public offerings and other investments in the games industry have reached $60 billion during the first half of 2021. That's almost twice as much as the amount for the full year of 2020, investment bank Drake Star Partners reported. 635 deals have been announced and/or closed during the first six months of 2021, with the wide majority of them being private placements (364), followed by merger and acquisitions with 169. In terms of value, M&A represented the highest value, with a total of $23 billion invested during H1 2021, followed by public financings at $16.4 billion and IPOs at $11.2 billion. Looking at the M&A deals by segment, there were 51 M&As in the PC/console sector, 44 in mobile, 38 in esports, 28 in hardware/tools, and 8 in platform. Among the acquisition highlights of the first half of the year, the report mentioned EA acquiring Playdemic for $1.4 billion, WarnerMedia joining with Discovery in a $43 billion deal, and Take-Two acquiring Nordeus for $378 million.
Pokémon Go surpassed $5 billion in lifetime revenue just as it's celebrating its five-year anniversary. According to Sensor Tower's latest report, Niantic's geolocation title made $1 billion a year on average since its launch on July 6, 2016. 2020 was Pokémon Go's best year yet, with $1.3 billion generated globally, a 41% rise year-on-year. The analytics firm added that Pokémon Go generated $641.6 million in the first half of 2021 alone, which is its strongest start of the year ever. Revenue was up 34% compared to H1 2020, and 130% compared to H1 2017. The US remained the No.1 revenue generating country for the title, with lifetime player spending reaching $1.9 billion -- 36.6% of the total. It was followed by Japan, with 32%, and then Germany at 5.4%.
Atari is shaking up its business strategy once again. Today the company announced that its board of directors has signed off on a new approach centered around making premium games for PCs and consoles, with reduced emphasis on mobile and free-to-play games. "Our intent with any gaming experience is to provide accessible and joyful moments of meaningful play," said Atari's recently appointed CEO Wade J. Rosen. "That's the core of Atari and what binds our history with our future. To that end, we feel that premium gaming is better representative of this type of gaming experience and the Atari DNA." The company said "the competitive and marketing environment is weighing on the free-to-play business model," but it will continue to operate successful free-to-play titles with a continuing user base."
Americans now spend more time on TikTok than YouTube. At least, according to analytics firm App Annie’s latest State of Mobile report, which tracks trends in consumer behavior on a wide range of mobile apps from 2019 to 2021. The report found that in the U.S., people who use Android phones now spend an average of 24.5 hours in TikTok per month, compared to 22 hours per month in YouTube. Two and a half hours may be a slim difference, but judging by App Annie’s data, that gap will widen: In December 2019, the beginning of the firm’s management period, Americans were spending just 16 hours per month on TikTok versus around 21.5 in YouTube–meaning TikTok’s user engagement has grown significantly, while YouTube’s has grown very little.
TikTok appears to be testing an in-house Cameo competitor. According to screenshots posted by Fabian Ouwehand, the cofounder of Amsterdam-based TikToker management company Many, some TikTok creators now have the ability to offer commissioned videos. Creators with access to the feature–called TikTok Shoutouts–appear to be delineated by a slim red button on videos they made. The button is above their username and, when tapped, takes visitors to a separate page for ordering a Shoutout. On the order page, TikTok lays out the basic process. First, a user sends an official request for a video to the creator, with payment upfront. The creator then has three days to accept the request.
Instagram wants to be more like TikTok. TikTok is extending the length of its videos to be more like YouTube. Roku seems to be following the Netflix playbook and investing in original video. The streaming wars are generally discussed as a competition between the large global legacy media companies -- Disney, Comcast’s NBCUniversal, AT&T’s WarnerMedia, ViacomCBS, Discovery -- and incumbent players Netflix and Amazon. There’s good reason for this: the products are similar, typically consisting of films, TV series, and sometimes live news and sports. But as television becomes predominately delivered over the internet, the competitive lines between traditional media companies and online video services like TikTok, Google’s YouTube, Facebook’s Instagram and Amazon’s Twitch are blurring.
On TikTok, when Megan Thee Stallion drops a new song, a dedicated dance trend is not far behind. But that’s not what happened after the June release of her song “Thot S---.” Instead, Black creators on the app announced a kind of strike, saying they would abstain from creating a dance trend for others to co-opt. The strike is at least the second time the Black users have held an on-app protest regarding their treatment on the platform, igniting an even larger discussion about ownership, compensation and equity within the digital economy. Black creators and creators of color say they are frustrated and fed up with being major contributors to not only the content and culture of a platform like TikTok but also a driving force behind the popularity of an app run by the $250 billion company ByteDance.
Video gaming entrepreneur Carlos “Ocelote” Rodriguez is turning to the U.S. entertainment market after building one of Europe’s biggest esport franchises. Rodriguez is in talks with several streaming platforms there to develop and sell content based on his Berlin-based G2 Esports teams, their star athletes and Samurai warrior brand, the former professional gamer told Bloomberg. He’s joining a growing band of competitive gaming businesses that are pushing beyond tournaments live-streamed on platforms like Twitch into TV shows, social media videos and even films. “I can clearly see our Samurai, a few years from now, featuring in a Hollywood movie,” said Rodriguez. “A biography of my own life -- I promise you that will happen at some point.
Mobile Premier League, an esports and gaming platform popular in India and Indonesia, launched this week in the United States as the company looks to replicate the success it has had in Asia. Mobile Premier, which has its headquarters in India, secured $95 million in February in a Series D funding round that valued the company at $945 million. Since Sai Srinivas and Shubham Malhotra founded Mobile Premier in 2018, the company has raised a total of $225.5 million. The investors in the latest round included Composite Capital Management of Hong Kong and Moore Strategic Ventures of New York.
The Esports Integrity Commission (ESIC) has announced that three players have received 12 month bans following an incident that took place during the ESL Mobile Open Legends of Runeterra (Ladder 2) tournament. The incident was first brought to light when ESIC received a report by ESL Asia relating to ‘the abnormal progression of particular participants’, according to a statement released by the commission. ESIC’s investigation related to a total of five accounts, three of which were operated by one player called Cuticini. ESIC determined that Cuticini, alongside Le Hiep and DiaComSuon, had colluded to cheat in the tournament by engaging in boosting behaviour.