Forbes: “That bravado has been tamed. The average value of the top ten teams flatlined at $240 million in 2020, following a 54% rise in 2019, according to our exclusive annual ranking of the most valuable esports companies. Industry-wide revenue, which was expected to jump 16% to $1.1 billion in 2020, instead fell $150 million after the pandemic canceled most live events, according to industry research group Newzoo. A lack of stadium-packing tournaments had knock-on effects on merchandise sales, as well as forfeited media rights and sponsorships.”

“Topping the list: Los Angeles-based TSM (formerly Team SoloMid), with a value of $410 million. The company added to its seven-time North American champion League of Legends team by acquiring Blitz last year. The ad-supported app, which has 10 million active monthly users and offers playing analysis and training sessions, now accounts for half of the company’s $45 million in revenue. In second on this year’s list is Cloud 9, another LA-based company that is valued at $350 million, down 13% from 2019.”

“Valued at $190 million, 100 Thieves jumps to the fifth spot on our list, from No. 10 in 2019. The company, founded by former Call of Duty champion Matthew “Nadeshot” Haag, 28, expects to make $16 million in revenue this year, a leap of 60%. Most of the company’s revenue has occurred outside of competitive play.”