OverActive Media Welcomes Riot’s Vision for Esports
TORONTO, March 15, 2024 – OverActive Media (TSXV:OAM) (OTC:OAMCF) (“OverActive” or the “Company“), a premier global esports and entertainment company for today’s generation of fans, today responded to Riot’s proposed changes for League of Legends esports contained in a blog post1 by John Needham, President of Esports, Riot Games. OverActive is fully committed to working alongside Riot Games in this transformative process.
Riot Games’ proposed model aims to ensure the sustainability of LoL Esports, focusing on more predictable revenue streams for teams through enhanced partnerships and innovative in-game digital sales strategies. This performance-based approach is consistent with OverActive’s vision for a robust and dynamic esports ecosystem, where the emphasis on shared success plus additional upside for high-performing organizations underpins future growth.
“MAD Lions KOI, our League of Legends franchise, has consistently been a top performer in the LEC, securing multiple championships, making regular appearances at the Mid-Season Invitational (MSI), and never missing a World Championship since joining the LEC in 2019. We also lead in peak viewership and average minute audience (AMA) in 2024, underscoring our commitment to competitive success and fan engagement,” stated Adam Adamou, CEO of OverActive.
“OverActive sees this as an opportune moment to also revisit discussions around the payment of franchise fees with Riot Games,” added Adam Adamou. “As part of this collaborative process, we aim to explore adjustments to these fees by seeking terms that reflect the evolving esports ecosystem and that support our mutual goals for sustainability and growth.”
ABOUT OVERACTIVE MEDIA
OverActive Media Corp. (TSXV:OAM) is headquartered in Toronto, Ontario, with operations in Madrid, Spain, and Berlin, Germany. OverActive’s mandate is to build an integrated global company delivering sports, media, and entertainment products for today’s generation of fans with a focus on esports, videogames, content creation and distribution, culture, and live and online events. OverActive owns team franchises in professional esports leagues, including the Call of Duty League, operating as the Toronto Ultra, the League of Legends EMEA Championship (LEC), operating as MAD Lions KOI, the VALORANT Champions League (VCT) EMEA, operating as Movistar KOI and other professional esports leagues and competitions.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding the plans, intentions, beliefs and current expectations of OverActive with respect to future business activities and operating performance. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding the anticipated financial and operating results of OverActive in the future.
Investors are cautioned that forward-looking statements are not based on historical facts but instead OverActive management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although OverActive believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the OverActive. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements include the following: the potential impact of OverActive’s qualifying transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; the ability of the Company to continue to execute on its existing partnerships and business strategy; the ability of the MAD Lions and Call of Duty Leagues to maintain viewership; the successful completion of the Company’s new venue; and other risk factors set out in OverActive’s annual information form for the year ended December 31, 2021 and its other filings with Canadian securities regulators, copies of which may be found under OverActive’s profile at www.sedarplus.ca. These forward-looking statements may be affected by risks and uncertainties in the business of OverActive and general market conditions, including COVID-19.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although OverActive has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. OverActive does not intend and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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