Reliance Signs JV With BLAST To Enter Esports Business

SUMMARY

RIL said that the JV will offer services such as end-to-end tournament management, marketing, production and broadcasting

While BLAST will bring its esports properties and publisher relationships to the table, Reliance will pitch in with its tech stack, distribution and local relationships

Europe-based BLAST partners with game publishers to host esport tournaments, and claims to have a user base of over 15 Mn on its platform

Reliance-owned sports tech platform RISE Worldwide has formed a joint venture (JV) with Europe-based BLAST to co-create esports tournaments for Indian users.

In an exchange filing, Reliance Industries Ltd. (RIL) said that the JV will offer services such as end-to-end tournament management, targeted marketing, production and broadcasting. In addition, it will cater to game publishers and sponsors.

The JV will leverage BLAST’s esports properties, production expertise, publisher relationships and popular intellectual properties (IPs). The combined entity will also explore synergies with Jio’s tech stack, distribution and local relationships to host esports events on the JioGames platform.

“… By partnering with Reliance, a market leader with unparalleled expertise and reach in India, we have a unique opportunity to elevate the local esports scene to new heights… This joint venture will not only help grow the Indian esports ecosystem but also create new pathways for local talent to shine on the global stage,” BLAST CEO Robbie Douek said.

BLAST partners with game publishers like EA Games, Ubisoft, EPIC Games and Riot Games to host esport tournaments. It claims to have a user base of over 15 Mn, with 707 Mn views on its platform.

On the other hand, RISE Worldwide is a sports and event management company, which manages events like Indian Super League, Lakmé Fashion Week, among others. It also offers a suite of services such as sponsorship consulting, athlete management, marketing, media rights management, sports broadcast production, licensing, among others.

With this, the Reliance-backed JV will now lock horns with homegrown new-age tech companies like NODWIN Gaming, India Gaming League and esport tournament streaming apps such as Loco.

The JV will look to capitalise on the growing online gaming market in India, which was home to over 600 Mn active gamers in the fiscal year 2023-24 (FY24). As per a Lumikai report, the Indian gaming market generated $3.8 Bn in revenue in FY24.