Astralis Group suffered $2 million in losses in the first half of 2021
Danish esports organization Astralis Group has published a financial report of the first half of 2021. According to the documents disclosed on the official website of the multigaming, which is presented on the professional CS:GO scene, the six-months' activities entailed $2 million in losses.
Astralis Group's total revenue for the first half of the year amounted to $6.2 million, which corresponds to a 92% increase compared to the same period in 2020. Then, the Danish multigaming suffered $4.8 million in losses.
According to Astralis Group's CEO Anders Horsholt, the coronavirus pandemic continues to have a negative impact on the esports industry, but the financial results of the first half of the year are in line with analysts' expectations. He also noted that the bulk of the organization's revenues come from the LEC (League of Legends) franchise league, where the Astralis Nexus slot is estimated at €26.5 million, as well as partnership contracts with BLAST and ESL Pro League championships.
Let us remind you that at the end of 2020, Astralis Group reported $8.5 million losses, which is $3.5 million more than 2019 activities' results.