Guild Esports presented the financial report for the last year

British esports organization Guild Esports has published its financial report for last year. In particular, the club reported a combined annual income of £4.5m, up 134% from £1.9m in 2021. This growth is due to the number of sponsorship deals with partners - Bitstamp, Coca-Cola, Sky UK and Samsung.

The new year is off to a good start with a lower base price, a stronger Board of Directors and senior administrative teams, in addition to a deal to increase our revenue streams and viewership, making Guild Esports a great place to continue the constructive momentum. In this regard, we look to the long term with confidence.

Jasmine Ski, CEO of Guild Esports

In addition, Guild Esports said its sponsorship income increased by 168% to £3.2m, up from £1.2m in 2021. However, the club posted a pre-tax loss of £8.75m, slightly down from £8.82m in 2021.

During the past year, Guild Esports reportedly received £10.7m from new sponsorship deals, while the total value of contracts signed was £14.6m.

Guild Esports has updated and streamlined its roster of content creators and influencers to control costs and improve the quality of the content they create, which we expect will lead to renewed growth and deeper engagement with esports audiences around the world. We recognize the need to optimize our cost base in order to reduce the cash requirements of the business and accelerate our path to profitability. Accordingly, a significant rationalization program was implemented towards the end of the financial year.

These actions, which included streamlining vendors and content creation costs, are expected to reduce our annual cost base by around £2.5m to around £5.3m from this year and will significantly reduce the business’ ongoing cash needs. funds.

Derek Lew, non-executive chairman of Guild Esports

Recall that last summer, Guild Esports reduced the number of its employees from 45 to 30 people, reducing labor costs by 2.5 million pounds at the end of the financial year. The organization also made management changes, as well as renegotiating its agreement with brand ambassador David Beckham, and reducing its total payment obligations by £7.5m.