By Alexander Lee – December 18, 2024 –
After an enthusiastic, however abortive, effort to diversify its company 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 attaining 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 representatives decreased to define the particular dollar worth of its sponsorship offers, which generally 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, in addition to more bespoke custom-made activations.
In spite of lots of esports business’ efforts to leave the discomfort of brand names’ diminishing marketing spending plans, 100 Thieves’ advancement over the previous year demonstrates how the market at big remains based 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 Higroundreleasing an energy beverage and opening a video game advancement armefforts led by then-CEO Haag in a specific effort to diversify the group’s service and decrease its reliance on esports brand name collaborations.
100 Thieves’ push to diversify led to a minimized focus on the business’s brand name collaboration organization, which formerly formed the lifeline of its profits technique. 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 services and revealed that it would refocus on its core item of esports.
Management modifications
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 worked as 100 Thieves’ svp of individuals; Jacob Toft-Andersen, previously the org’s vp of esports, rose to president; and Haag has silently went back from his CEO duties 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 everyday; he was making innovative choices, organization choices. And over the last couple years, he’s actually been stressed out, and actually wished to return to the important things that he actually delights in doing, which is developing content,” Van stated. “And he feels, and we feel, like that’s the very best usage of his time, due to the fact that not just is he clearly promoting his own brand name, however he continues to promote and represent 100 Thieves.”
100 Thieves’ increased sponsorship numbers show the progressively imaginative methods which 100 Thieves has actually found out to link brand names with its fan base beyond the typical logo design slaps, consisting of activations such as a 100 Thieves-hosted celebration commemorating Heineken’s “Player 0.0” sim racing league and a team-branded “Summer Block Party” in August including sponsors like Neuro Gum.
“An essential element of 100 Thieves’ sponsorship technique is their focus on genuine combination and partnership,” stated Ryan Chen, the CFO of Neuro, which signed a sponsorship handle 100 Thieves in July 2024. “They have a history of producing distinct, co-branded items and experiences with their partners, which resonate deeply with their neighborhood.”
Partner enjoyment
As 100 Thieves gets in the brand-new year, the esports company’s sponsors seem pleased with its brand-new instructions. In August, Lexus revealed an extension of its multi-year collaboration with the group, which began in 2021.
The auto brand name’s choice to double down on its collaboration with the org is one indication that 100 Thieves is keeping sponsors pleased after stumbling in its relationships with some brand name partners in 2023. Train, for instance, ended up being the main sponsor of the group’s “League of Legends” team in May 2023, however did not re-sign with 100 Thieves in 2024, and the business offered its “League” franchise area back to Riot Games in October of this year. Energy beverage brand names were likewise switched off by 100 Thieves’ ownership of its own drink brand name at the time, injuring the group’s possible sponsorship service because classification.
“One of the important things that makes this collaboration work is how quickly we have the ability to get one another and make things work, in regards to what our requirements are at Lexus– efforts that may not always be focused around reaching the video gaming neighborhood, and vice versa,” stated Lexus senior media supervisor Lorenzo Harris. “For example, having them support us with a few of the occasions we may have for our dealerships, or belonging of a few of the races that we have with our motorsports groups.”
100 Thieves’ management modifications and upgraded sponsorship technique were one factor behind the business’s enhanced fortunes in 2024, however the getting better of its collaboration service likewise shows a basic increase in online marketers’ interest in esports following the “esports winter season” of 2023. There are less active esports groups now than recently, implying the biggest and most popular esports residential or commercial properties that still stay– such as 100 Thieves, Team Liquid and popular occasions such as the “League of Legends” World Championship and Esports World Cup– are the ones that might stand to benefit most from brand names’ go back to the area.
“When you’re right at the top of the triangle, your chance for brand names is rather tight, and you’re actually targeted at a particular audience– which works well for some brand names and some sponsorship chances,” stated Gareth Leeding, worldwide chief method officer at the video gaming marketing business Livewire. “But when you discover methods to widen it out, bringing other artists and home entertainment into the experience, then suddenly, it ends up being less about a story around esports and more around simply competitors and individuals typically having a good time.”
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