T1 also heavy losses when doing esports
In League of Legends in particular, T1 is the team that receives the most sponsorship. It was COO GEN.G itself that also revealed that T1 was the only team in both LCK without having to actively seek sponsorship. However, with League of Legends, T1 can succeed, but for all eSports teams that this team invests, the opposite and T1 are also heavy when investing in electronic sports.
Considered to be the League of Legends with the most funding LCK, but in all eSports subjects, T1 is also heavy.
According to a report from “Investigation of Esports status in 2024” was published earlier this month by the Korean content promotion agency, T1 achieved 32.8 billion won revenue in 2023, up 44.4%. Compared to the same period in 2022. However, the operating cost of the teams of the whole organization increased to 24.1% to 44.8 billion won. Therefore, T1 lost more than 12 billion won by the end of 2023.
According to the report also said that teams like T1 or Gen.G are somewhat “compensated” thanks to the revenue from EWC 2024 with the total bonus value of the tournament up to 60 million USD (about 86.4 billion won) . This is a very significant revenue, in the context of large and small eSports organizations around the world fall into heavy losses because of the back recession of the back of Civid-19.
By the end of 2023, T1 lost 12 billion won and the amounts were somewhat “compensated” thanks to EWC 2024.
Not only T1, but the Korean eSports industry also faces many difficulties
According to experts, the difficulties of eSports organizations in Korea are also a common difficulty of world electronic sports. According to statistics, all investment factors in the eSports of organizations at LCK have plummeted, from personnel to operating costs. The main T1 will also be able to signal a gloomy future of Korean eSports in general and LCK in particular.
Predict eSports in Korea in particular and the whole world in general will still face many difficulties.
Not to mention, T1 has not always won glory as in the past 2 years. Therefore, the possibility of this loss will increase in the coming years, especially in case T1 does not maintain a unique position at Worlds or at EWC anymore.