Olivia R. September 27, 2019
Team Dignitas doesn't only have eyes for the League of Legends Championship Series.
The esports organization has formed a new parent company, New Meta Entertainment, after raising $30 million. New Meta Entertainment will add new facets to the company including an esports content and marketing business, as well as an esports investments division.
Former Dignitas CEO Michael Prindiville has been announced as the CEO of New Meta Entertainment.
“We describe ourselves as a digital sports and entertainment company,” Prindiville told Venture Beat. "We want to build a single global brand under the name Dignitas."
In the interview, Prindiville also noted that they've spent the last year creating this vision for a "multi-pronged, integrated company" to avoid what most esports organizations run into.
"Too often, esports organizations are making a single business out of esports. The reality is a diversified business is the way to go. It's not just gaming. It is also entertainment and media. We have solved for this with a three-pronged business," Prindiville explained.
And it seems they're not alone in this thought process. The $30 million was raised by investors like Harris Blitzer Sports & Entertainment, Fertitta Entertainment, and even hip-hop personality Steven Riftkind.
Dignitas' future in LCS, and other esports
This Series A Preffered Stock funding partially covered Dignitas' previous merger with Clutch Gaming, a move that has Dignitas returning to the LCS next year. But that isn't the only esport that Dignitas competes in. They will also have a League of Legends Academy Team, as well as players competing in Counter-Strike: Global Offensive, Super Smash Bros., Rocket League, Clash Royale, and Smite.
Acquiring Clutch Gaming is looking like a smart investment for Dignitas. Although the team began the LCS Summer Split in 9th place, the scrappy squad managed to qualify for the World Championships after making its way through The Gauntlet. In an interview with WIN.gg, Tanner "Damonte" Damonte stated that the Clutch Gaming roster wants Dignitas "to be proud to have us as their players."
New Meta Entertainment's marketing and investment plans
Dignitas' new parent company already has major plans for the organization's marketing side of things. This includes working with influencers across not only esports, but sports and music. This will yield video and audio projects that could monetize their brands at scale.
The third branch, investment, will be looking to further invest in the esports industry, as well as gaming and entertainment. New Meta Entertainment's first investment has been U.GG, a League of Legend's coaching platform.
Said Prindiville: “We want to be the stewards for the next generation of great esports, livestreaming and entertainment, and gaming startups."
So far, Prindiville said the creation of New Meta Entertainment, along with Dignitas new 3,000-square-foot headquarters, has been "incredibly exciting" for their organization as a whole.