CMG Holdings, Inc. Announces Partnership With Good Gaming, LLC “eSports” Video Game Competitions
October 22 2013 - 8:00AM
Access Wire
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 companys 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
captjudge@aol.com
646-820-1580
Source: CMG Holdings Inc.
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