?In the report that ended on June 30, 2022, the esports holding company revealed that the entire revenue accrued in Q2 grew to an impressive CAD $2.3 million (￡1.5 million), while the team revenue was reduced by CAD $500,000 (~￡300,000). The first six months brought in a combined CAD $4.4 million (￡2.8 million) revenue with a net loss margin lower than the first half of 2021.?

?This year, OverActive Media experienced a CAD $7 million (￡4.5 million) loss, while as of 2021, the number was CAD $8.2 million (￡5.25 million). The company revealed that the heightened “Business Operations Revenue” was linked to the overall increase in the organization’s revenue.?

In June, OverActive Media renewed its multi-million dollar deal with TD Bank Group, a financial institution. The deal ensured that both parties would be part of the Toronto Defiant Summer Showdown organization.? ?The partnership mandated the Canadian financial services company to continue its role as sponsor for the organization’s Overwatch League and Call of Duty franchises, Toronto Defiant and Toronto Ultra.

TD Bank would also facilitate the remodeling of the bank’s player lounge at OverActive headquarters.? ?In the same month, the esports organization also expanded its multi-year deal with Bell, a communications company in Canada. The two large-scale partnerships made in the first half of 2021 enabled the company to increase its sponsorship revenue.?

?OverActive Media also revealed that its involvement in the Call of Duty Major in Toronto increased its expenses for the quarter. The holding company previously organized the first Major COD League held in Toronto. The tournament had a turnout of around 8,000 people and was presented by the company’s partner, Bell.?

?The CEO and President of the company, Chris Overholt, talked about the success of the event and the part it played in the company’s net loss for the quarter.

He said, “Our expenses and net loss were higher in the current quarter, driven in part by our investment in hosting the first-ever Call of Duty League Major in Toronto in June. This event was a tremendous success for our fans, partners, and the city.”? ?

OverActive Media previously announced its leadership change, placing Richardo Gómez-Acebo Botín as the new Head of EU Business. Botín worked for the company for four years before his most recent appointment and will be in charge of merging the MAD Lions into the company’s global structure.? ?

Besides Botín, the Vice President of Strategy at OverActive Media, Jorge Schnura, turned in his resignation from his position in the company. The former Vice President was among the founding members of the MAD Lions before it was acquired. Although he is not a full member of the company now, Schnura revealed that he would stay on in an advisory role.? ?While talking about his decision to leave the company, Schnura explained that he was still very much interested in the success of MAD Lions. He officially left the organization at the end of July.

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The media company made the announcement via its official website, listing some of the terms of the agreement. According to the release, there will be several activations with the primary purpose of fostering fan engagement.

The first point of action will be in the Toronto Defiant’s Fan Appreciation Weekend, which will commence in August. From then, both parties will pull off other activities, including;
● Toronto Defiant Summer Showdown from September 8 to 11
● remodeling the TD Player Lounge at OverActive’s headquarters
● launch of the Canadian Overwatch Fest to celebrate the Overwatch community in Canada

Speaking on the deal, Senior Vice-President, Partnerships & Revenue, OverActive Media, Tyler Keena, expressed excitement about the deal. He pointed out that the deal will help the company continue to build a fan community in the country.

“We’re extremely excited to extend our relationship with TD. The long-term commitment to our business and the expanded scope of the sponsorship will help us to collectively elevate and deliver unique fan experiences across our Toronto teams in the coming years. Together, we see a path to continuing to build fandom and community amongst passionate esports fans across Canada.”

The Vice-President, Brand & Corporate Sponsorships, TD, Michael Armstrong, also commented on the deal. He said that TD is proud to help improve the fan experience for the Toronto Defiants and Toronto Ultra.

“TD is proud to work together again with OverActive to help build on the momentum across esports and to help amplify the fan experience for the Toronto Ultra and Toronto Defiant. We look forward to continuing to engage with fans and customers in the gaming community and helping to sustain a sense of connectedness across esports platforms for the next generation of gamers.”

OverActive is the parent company of three esports organizations, MAD Lions, Toronto Ultra, and Toronto Defiant. However, the sponsorship expansion will cover only the two Canadian-based teams – Toronto Ultra and Toronto Defiant.

Additionally, all OverActive’s Call of Duty and Overwatch League YouTube broadcasts will feature the bank’s brand. Custom content that will feature the brand’s logo will also be created.

Both Toronto-based teams also have other partnerships with notable brands like Bell, SCUF Gaming, Canon, etc.

Although this deal does not cover MAD Lions, the European esports organization already signed a lucrative deal with Zilliqa. The partnership with the blockchain company resulted in a big boost in OverActive’s first-quarter financial report.

The report showed that the company is doing a lot better than it did at this stage in 2021. Although there was a little increase in their loss due to increased operating costs, OverActive saw a significant increase in its revenue growth.

The MAD League of Legends team are ready to compete in the 2022 LEC Summer. They will be looking to better their seventh-placed finish in the Spring.

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The Spanish organization, which also has a League of Legends team, took to its Twitter page to announce the disbandment of the CS:GO team.

“Today we close a chapter of MAD Lions,” the tweet read.

“After a long time competing, we say goodbye to our CS:GO division, as well as our current roster.

“We’ve put our players on the transfer list and will work with them to find new homes.

“Thank you to all the players/staff who played with us.”

The team – which consists of Thomas “TMB” Bundsb?k, Justinas “JL” Lekavicius, Johannes “b0RUP” Borup, Micha? “MICHU” Müller, Viktor “somedieyoung” Orudzhev, Vladymyr “Woro2k” Veletniuk, and coach Jakub “kuben” Gurczyński – have been listed as ‘inactive’ and will be duly transferred.

MAD Lions were founded in 2017 and launched their Counter-Strike: Global Offensive arm in the same year. They entered the CS:GO with an all-Spanish roster consisting of VITY, AKI, kekO, Kirtash, and Orga.

The organization was acquired by OverActive Media Group in 2019. OverActive are also the owners of the Toronto Defiant and Toronto Ultra spots in the Overwatch League and Call of Duty League respectively.

While the reason for the disbandment of the team was not stated, OverActive’s financial situation appears to be a key factor.

The company had earlier revealed a fourth-quarter loss of over $15 million and ruled that as losses due to “modifications of certain payments related to our franchise obligations”. Hours after, the closure of MAD Lions’ CS:GO arm was announced.

This will also see the birth of the organization’s Valorant esports division after it was earlier alleged to have signed a top European player roster.

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