Business
Super League Gaming Reports First Quarter 2020 Results
SANTA MONICA, Calif. , May 14, 2020 (GLOBE NEWSWIRE) -- Super League Gaming (Super League or the Company) (Nasdaq: SLGG), a global leader in competitive video
About this update from Super League Enterprise, Inc.
[{"type":"text","content":"SANTA MONICA, Calif. , May 14, 2020 (GLOBE NEWSWIRE) -- Super League Gaming (Super League or the Company) (Nasdaq: SLGG), a global leader in competitive video gaming and esports entertainment for everyday players around the world, reported recent operational developments and financial results for the first quarter ended March 31, 2020. \n Recent Operational Developments Reached agreements with institutional investors to raise net proceeds of over $6.0 million in new equity capital.Received notice of allowance of a patent by the United States Patent Office for AI-based spectating of gaming.Content creation agreements with notable partners, including Snapchat, Topgolf and esports leader Gen.G. Key Performance Indicators (KPIs) Through April 30, 2020 Registered users – 1.6 million, up over 60% year-to-dateEngagement hours – 16 million compared to 15 million for all of 2019Viewer Impressions – 225 million compared to 120 million for all of 2019 Management Commentary“During this time of unprecedented disruption around the world, we expected and have experienced an increase in consumer interest in competitive video gaming,” said Ann Hand, CEO of Super League. “While COVID-19 inevitably caused advertisers to take a pause and reset their marketing strategies, Super League’s significant surge in online gamer engagement across our digital channels has positioned us as an attractive marketing channel going forward. With live sports from the professional level to your local neighborhood playing field on hold for now, competitive video gaming, also known as esports, is still happening. In addition, esports is about teamwork, leadership, connecting with old friends and making new ones, all of which provides an outlet for positive gaming and social connections during this isolating time. “The material increase in engagement on our digital channels generates more advertising inventory we can monetize and drives more players to our direct-to-consumer offering. In addition, the pandemic has accelerated new revenue opportunities, specifically with respect to our virtual, fully-remote content production technology, which is of interest to a variety of teams, leagues and media outlets searching for ways to connect to fans and fill the void of fresh content. With our recent infusion of additional capital, we believe we will be able to capitalize on t...