Chinese Company Pays Over $113 Million for Exclusive Broadcasting Rights of League of Legends World Championships in China
A Chinese streaming company has acquired the exclusive broadcasting rights for the next three League of Legends World Championships in China, according to Chinese media company Beijing News. The company reportedly paid over $113 million for these rights, highlighting the significant value of one of the biggest esports events in the world, particularly in one of the largest markets.
Bilibili Emerges as the Winner
Bilibili emerged as the winner after beating out other interested media companies, including Douyu, Huya, and Kuaishou. This marked the first time in China that the exclusive broadcast rights for an esports event were determined in this manner.
Worlds 2020 and Chinese Dominance
China will host Worlds 2020, with the finals taking place in Shanghai Stadium. The stadium previously hosted the soccer preliminaries during the 2008 Summer Olympics. Chinese fans have witnessed their hometown teams, FunPlus Phoenix and Invictus Gaming, secure victory in the past two World Championships.
About Bilibili and its Venture into Esports
Bilibili is a popular video sharing website in China that has experienced significant growth since its launch nine years ago. As of December 2017, it had reported over 31.6 million users. The company generates most of its profits from mobile games, accounting for 80% of total profits in mid-2018. Bilibili expanded into esports by establishing Bilibili Gaming, an esports organization with teams in League of Legends and Overwatch League, including the Hangzhou Spark.
An official announcement from Bilibili and Riot Games regarding the broadcasting rights has yet to be made.
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