GameSquare Announces Record Monthly Contract Wins of over $14 million in August 2024
Rhea-AI Summary
GameSquare Holdings (NASDAQ:GAME) announced record monthly contract wins of over $14 million in August 2024. These wins span across all operating segments, with a focus on higher-margin sales in Agency, IP, and Teams segments. The contracts, secured from both new and existing customers, are expected to contribute to revenue in 2024 and 2025.
Key highlights include:
- New brand partnerships with TopGolf and Dairy Max
- Agency partnership with 5-Hour ENERGY®
- FaZe Clan Esports' $2 million win at the Esports World Cup
- Multi-year expansion of FaZe Clan's sponsorship with Rollbit
- Multi-year sponsorship and licensing deal between FaZe Media and G FUEL
CEO Justin Kenna attributes this success to the company's next-generation media platform, strong execution, and increasing demand for their services. The focus on multi-year contracts aims to develop a more predictable revenue backlog.
Positive
- Record monthly contract wins of over $14 million in August 2024
- Contracts expected to contribute to revenue in 2024 and 2025
- Focus on higher-margin sales in Agency, IP, and Teams segments
- Secured multi-year contracts, indicating long-term relationships with brands
- FaZe Clan Esports won over $2 million at the inaugural Esports World Cup
- New partnerships with major brands like TopGolf, Dairy Max, and 5-Hour ENERGY®
- Expansion of multi-million-dollar sponsorship deal with Rollbit
- New multi-year, multi-million-dollar deal between FaZe Media and G FUEL
- Expected sequential and year-over-year gross margin expansion in H2 2024
Negative
- None.
Insights
GameSquare's announcement of
The emphasis on higher-margin sales in the Agency, IP and Teams segments is likely to boost profitability. If this trend continues, we can expect to see improved gross margins in the latter half of 2024. The multi-year nature of some contracts also provides better visibility into future revenue streams, which is typically viewed favorably by investors.
However, it's important to note that contract wins don't immediately translate to revenue. Investors should monitor how effectively GameSquare converts these contracts into actual earnings in the coming quarters. Overall, this news suggests a positive trajectory for GameSquare's financial performance and market position.
GameSquare's record contract wins reflect broader trends in the gaming and creator entertainment industry. The diverse nature of these contracts - from esports tournaments to brand partnerships - highlights the expanding opportunities in this sector. The deal with TopGolf, for instance, shows how gaming companies are bridging into other entertainment verticals.
The multi-year sponsorship with Rollbit and the licensing deal with G FUEL demonstrate the growing value of gaming brands and their ability to secure long-term partnerships. This trend aligns with the increasing mainstream acceptance and monetization of gaming culture.
The
Overall, GameSquare's success in August 2024 suggests a robust market demand for integrated gaming and entertainment services, positioning the company well in this rapidly evolving industry landscape.
Record monthly contract wins were driven across all operating segments, including higher margin sales within the Company's Agency, IP, and Teams segments
FRISCO, TX / ACCESSWIRE / September 10, 2024 / GameSquare Holdings, Inc. (NASDAQ:GAME), ("GameSquare", or the "Company"), a next generation media company with roots in gaming and creator entertainment, today announced it closed over
"After growing pro-forma revenue by
Mr. Kenna continued: "The mix of contracts in August was primarily focused on higher-margin areas of our business, including our Agency, IP and Teams segments. As a result, we believe we are well positioned for gross margin to expand on a sequential and year-over-year basis in the second half of 2024."
Record new contracts for the month of August 2024 of over
New brand partnerships with TopGolf and Dairy Max,
A new agency partnership with 5-Hour ENERGY®,
FaZe Clan Esports largest esports winning of over
$2 million at the inaugural Esports World Cup,FaZe Clan Esports' multi-year, expansion of a multi-million-dollar sponsorship deal with Rollbit, and
A new multi-year, multi-million-dollar sponsorship and licensing deal between FaZe Media and G FUEL.
About GameSquare Holdings, Inc.
GameSquare's (NASDAQ:GAME) mission is to revolutionize the way brands and game publishers connect with hard-to-reach Gen Z, Gen Alpha, and Millennial audiences. Our next generation media, entertainment, and technology capabilities drive compelling outcomes for creators and maximize our brand partners' return on investment. Through our purpose-built platform, we provide award winning marketing and creative services, offer leading data and analytics solutions, and amplify awareness through FaZe Clan, one of the most prominent and influential gaming organizations in the world. With one of the largest gaming media networks in North America, as verified by Comscore, we are reshaping the landscape of digital media and immersive entertainment. GameSquare's largest investors are Dallas Cowboys owner Jerry Jones and the Goff family.
To learn more, visit www.gamesquare.com.
Corporate Contact
Lou Schwartz, President
Phone: (216) 464-6400
Email: ir@gamesquare.com
Investor Relations
Andrew Berger
Phone: (216) 464-6400
Email: ir@gamesquare.com
Media Relations
Chelsey Northern / The Untold
Phone: (254) 855-4028
Email: pr@gamesquare.com
SOURCE: GameSquare Holdings, Inc.
View the original press release on accesswire.com
FAQ
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