League of Legends is joining the big boys as it gets its own streaming app to supplement platforms like YouTube and Twitch.
“Our goal has always been to build League of Legends into a major global sport. We want our sport to be funded by itself and we think this deal is going to help us get there,” said Riot eSports director Jarred Kennedy.
The app comes as a result of a deal struck between BAMTech, a spin-off of MLB Advanced Media partially owned by Disney and the NHL, and League of Legends owners (Tencent Holdings) parent company Riot. BAMTech will own exclusive rights to stream and monetise League of Legends until 2023. The deal will cost BAMTech $300 million- minimum!
But with so many people watching League of Legends streams, $300 million may well just be pocket change as BAMTech will certainly make the money back quick. “No other sport has seen this kind of global online audience for live events,”.