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Enthusiast Gaming Holdings (NASDAQ:EGLX) announced a collaboration with Nielsen to conduct a study measuring the social reach and Twitch viewership of its esports audience, Luminosity Gaming. The study, conducted from July 1 to July 31, 2021, revealed that Luminosity Gaming reaches over 132 million followers and has surpassed 1 billion views on Twitch. Additionally, Luminosity maintained the No. 1 position for hours watched and ranked first for average and peak concurrent viewers, demonstrating its strong market presence. The insights will be used for direct sales strategies.
Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) reported a record high of **45.3 million Unique Visitors** in the U.S. for July 2021, reflecting a **9% increase** from June. This achievement marks July as the highest month for U.S. traffic in 2021. The company also advanced 4 positions in **Comscore's Top 100 Properties** ranking, now standing as the second-highest in the Gaming Information category. CEO Adrian Montgomery emphasized the platform's appeal to Gen Z and Millennial gamers amidst various entertainment options.
Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) reported a consolidated revenue of $37.1 million for Q2 2021, a significant increase from $7.0 million in Q2 2020. The gross profit reached $8.0 million, up from $3.2 million the previous year. Direct advertising sales soared to $4.4 million compared to $0.6 million in Q2 2020. Despite a net loss of $12.8 million for the quarter, paid subscribers grew to a record 155,000. The company raised $60.1 million from a public offering and completed acquisitions of key web properties.
Enthusiast Gaming Holdings (NASDAQ:EGLX) has formed a media and esports partnership with America’s Navy to promote Navy life and career opportunities in STEM fields. This initiative will feature unique gaming activations, competitive events where Navy’s Goats & Glory team faces Enthusiast Gaming’s Luminosity players, and the Navy sponsoring Luminosity Live, a major esports production. The partnership aims to engage and educate the Gen Z demographic, showcasing similarities between gaming skills and Navy operations.
Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) announced that it will release its financial results for the second quarter ending June 30, 2021, on August 10, 2021, after market close. A conference call will follow at 5:00 p.m. EDT to discuss the results. The company's forward-looking statements highlight anticipated developments in the esports and media industry while cautioning investors about risks and uncertainties. Enthusiast Gaming is focused on creating a comprehensive platform for video game and esports fans, leveraging media, talent, esports, and experiences.
Enthusiast Gaming Holdings (NASDAQ:EGLX) has renewed its 18-month sponsorship with G FUEL, enhancing its partnership through custom content, talent activations, and the launch of a new G FUEL flavor. The sponsorship aims to engage the gaming community and showcase G FUEL products through prominent placements on Luminosity Gaming's jerseys and Enthusiast Gaming merchandise. Since 2020, this collaboration has generated significant fan engagement, with events like EGLX Digital 2020 reaching over 12 million viewers. CEO Adrian Montgomery emphasized the partnership's value and impact on client relations.
Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) announced the appointment of John Albright to its Board of Directors and Audit Committee. Albright, co-founder of Relay Ventures, brings extensive experience in venture capital and private equity, having advised startups through various growth stages. His addition is anticipated to provide significant value in the company's growth areas. Additionally, Blue Ant Media has transferred 6 million shares to non-voting shareholders, establishing Relay Ventures as a significant stakeholder. Robb Chase has resigned from the Board, with gratitude expressed for his service.
Enthusiast Gaming (NASDAQ:EGLX) announced a joint venture with Torstar Corporation to launch AFK, an original online news platform for gamers. AFK aims to integrate Enthusiast's expertise in building online communities with Torstar's content capabilities. A crowd-sourced contest called ‘Find a Host’ will precede the platform's debut on YouTube, inviting video auditions on key topics. The winner, selected from six finalists, will be announced in September 2021, with the platform set to launch in fall 2021.
Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) held its Annual General Meeting (AGM) on June 30, 2021, where all proposed nominees were elected to the Board of Directors. Adrian Montgomery received 94.81% approval, while Michael Beckerman achieved the highest at 97.90%. Additionally, shareholders approved the number of directors set at eight and reappointed KPMG LLP as the auditor. Voting results showed significant support for both the directors and auditor, indicating strong shareholder confidence in the company's governance.
Enthusiast Gaming Holdings has successfully completed the acquisition of Tabwire LLC for US$11 million, enhancing its gaming social network and subscription offerings. The purchase includes a cash payment of US$5 million and 790,094 common shares valued at CAD$9.51 per share, subject to a lock-up period. Tabwire's platform, with over 13 million gamer profiles, provides a unique user identification feature and a cheating detection system. This acquisition supports the development of Project GG, a gaming-centric social network aimed at connecting fans across platforms.