3 Sep 2020 07:00
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
03 September 2020
Gfinity plc
("Gfinity" or the "Company")
Distribution rights agreed with three leading broadcasters for Gfinity and Abu Dhabi Motorsport Management's new V10 R-League
Gfinity plc (AIM: GFIN), a world leading esports and gaming solutions provider, and Abu Dhabi Motorsport Management (ADMM), are pleased to announce distribution agreements with three of the world's leading broadcasters for its new virtual racing competition, the V10 R-League. The V10 R-League is the first championship in the Global Racing Series partnership between Gfinity and ADMM. The Global Racing Series is a long term, multi-championship initiative designed to create competitions that redefine racing through unique formats that are only possible in the virtual world.
The V10 R-League will be available on BT Sport, ESPN and STARZPLAY Arabia, as well as highlights being broadcast across team and talent channels in a unique distribution plan that spans both broadcast and digital channels. The distribution plan will make the V10 R-League one of the most widely syndicated esports competitions, with broadcast coverage reaching up to 75 countries worldwide, with the potential to reach 150 million households.
BT Sport and STARZPLAY Arabia have signed a multi-year commercial agreement for exclusive rights in the UK and Ireland, and the MENA region, respectively, whilst ESPN's commercial agreement means Season's 1 and 2 of the V10 R-League will be broadcast in the US and made available in Canada, Latin America, the Netherlands, the Caribbean and Oceania. The financial details of the contracts have not been disclosed but the multi-year agreements will play a key role in supporting Gfinity's target of moving into profitability in Q1 of the 2021 calendar year.
The premiere of Season 1 will be aired on BT Sport 2 on Monday 7 September at 7pm GMT, with the remaining six rounds aired every Monday at 7pm. All of the racing will be made available for free the following morning after the highlights show on btsport.com and the BT Sport App. ESPN and STARZPLAY Arabia will also have access to the shows at the same time. Season 1's seven two-hour weekly shows will be supported by 28 hours of digital first content.
In addition, the hosts of the V10 R-League broadcasts have been confirmed:
Rachel Stringer, an experienced esports and traditional sports presenter. Rachel is a massive motor racing fan and is currently the pit lane reporter covering British Super Bikes for Eurosport;Nicolas Hamilton, whose racing knowledge comes from his first highly competitive outing in the Renault Clio Cup series in 2011, to becoming a points-finisher in the British Touring Car Championship this year. Nicolas comes from a famous racing family with his brother Lewis Hamilton the 6 times and current F1 World ChampionYouTube star Ben Daly, also known as Tiametmarduk, who is one of the most popular voices in sim racing, speaking almost daily to his 500k+ audience on YouTube.
Each one brings a wealth of experience in presenting esports competitions, which will be a valuable asset in shaping the way the League is presented to tens of millions of fans.
The eight teams competing in the inaugural V10 R-League are: BMW Motorsport SIM Racing Team; BWT Racing Point Esports; JAESA Team Suzuki; Porsche24 Redline; Red Bull Racing Esports; Team Fordzilla; Williams Esports; and YAS HEAT.
Saif Al Noaimi, Acting CEO ADMM, said: "To be achieving global broadcast scale, fantastic talent and some of the best teams in the esports racing world for season one is testament to our formula. Working with great partners like Gfinity - and having the right people in place to deliver the programme will continue moving us towards our vision of continually advancing world class motorsport across esports platforms.'
John Clarke, CEO Gfinity said: "With a clear vision, a great partner in ADMM and a lot of hard work, we now have a unique 'made for broadcast' racing format that did not exist three months ago, the V10 R-League. The competition has captured the imagination of three of the world's most forward-thinking broadcasters. They have invested in the concept, taking it to up to 75 countries around the world. The revenues from each of these agreements, which we share equally with ADMM, will play a positive role in helping Gfinity reach its target of moving into profitability in Q1 of 2021 calendar year and supporting the Company's continued growth. We remain focused on driving innovative new ideas that are commercially attractive into the marketplace."
ENDS
Enquiries:
Gfinity plc John Clarke, CEO | www.gfinityplc.com Via Teneo |
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Investor relations | ir@gfinity.net |
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Teneo (Media) | Tel: +44 7464 982426 |
Camilla Cunningham | Gfinity@teneo.com |
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Allenby Capital Limited (AIM Nominated Adviser & Broker) | Tel: +44 (0)20 3328 5656 |
Jeremy Porter/ James Hornigold (Corporate Finance) Amrit Nahal (Sales)
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About Gfinity
Gfinity (AIM: GFIN) is a world leading esports business. Created by gamers for the world's 2.2 billion gamers, Gfinity has a unique understanding of this fast-growing global community. It uses this expertise both to provide advisory services and to design, develop and deliver unparalleled experiences and winning strategies for game publishers, sports rights holders, commercial partners and media companies.
Gfinity connects its partners with the esports community in authentic and innovative ways. This consists of on‑ and off-line competitions and industry‑leading content production. Relationships include EA SPORTS, Activision Blizzard, F1 Esports Series and the Forza Racing Championship.
Gfinity connects directly with tens of millions of gamers each month through its digital media group, Gfinity Digital Media. Gfinity Digital Media includes websites such as: Gfinityesports, RealSport101 and StealthOptional and their respective social channels.
All Gfinity services are underpinned by the Company's proprietary technology platform delivering a level playing field for all competitors and supporting scalable multi-format leagues, ladders and knockout competitions.
About Abu Dhabi Motorsports Management
Abu Dhabi Motorsports Management (ADMM), with its head office at Yas Marina Circuit, Yas Island, has created unique, world class experiences across Abu Dhabi since 2009.
ADMM have promoted and delivered globally significant events, including Formula 1 Etihad Airways Grand Prix, alongside over 400 events a year across motorsports, health and fitness, entertainment and major corporate conferences. The company also delivers a significant programme of motorsport retail experiences for business and consumer audiences at Yas Marina Circuit across the year. This combined experience means that ADMM has a region-leading team with expertise in event marketing, communications, promotions and project management. Such talent firmly positions ADMM as a leader in sports management.
The company is now seeking to diversify into activities and strategic ventures beyond Yas Marina Circuit in order to build towards a broader long-term vision aligned with its partners and stakeholders in Abu Dhabi.
Gfinity (GFIN)