T1 Entertainment & Sports, a joint venture between South Korea-based SK Telecom and Philadelphia-based Comcast Spectacor, is shifting its focus toward the Asia esports market, writes Kevin Hitt for Philadelphia Business Journal.
The change follows recent shifts in the global esports markets. It became evident in December when T1’s Overwatch League team rebranded from Philadelphia Fusion to Seoul Infernal.
“We realized probably almost two years ago that winter was coming in terms of VC money drying up in North America,” said Joe Marsh, CEO of T1 Entertainment & Sports. “We were already doing so well in esports in South Korea, we realized pretty quickly the T1 brand in Asia especially carries a lot of weight.”
T1’s standing attracted many sponsors from around the world, including Samsung, Nike, Red Bull, Mercedes-Benz, and Hana Bank.
The reason for success in the Asian market can be found in cultural attitudes toward esports. In South Korea, a competitive gaming career is considered a viable and respectable path.
And while T1 is not abandoning North America, the local market is proving to be more lucrative for content creation when it comes to return on investment in gaming and esports.
Read more about Comcast Spectacor in Philadelphia Business Journal.
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