ACBJ invests in esports publication
American City Business Journals, the parent of the Street & Smith’s SportsBusiness Journal, has made a “significant investment” in The Esports Observer, which provides esports business news and insights.
Terms were not disclosed.
The Esports Observer was launched as part of the BITKRAFT Esports Ventures network in 2015.
The esports economy is currently experiencing a global coming of age. Industry experts expect it to grow at a 30 percent compound rate through 2020, pushing the market to $1.5 billion in annual revenue.
“It’s clear to all of us at SportsBusiness Journal and to our readers who work and invest in traditional sports that esports is an exciting and significant development,” said ACBJ CEO Whitney Shaw in a statement. “This partnership allows SBJ to extend its authority and credibility into esports.”
ACBJ has the right to make additional future investments into The Esports Observer.