Astralis expresses discontent with financial performance in first half of 2023
The management of Danish organization Astralis is not satisfied with its financial performance for the first half of 2023. Dust2.dk provided excerpts from the club's latest report.
Compared to the same period in 2022, Astralis' revenue in the first six months decreased by almost 28%, from $6.5 million to $4.68 million. The club’s CS:GO roster brought the net revenue of $1.9 million. However, expenses for the roster's maintenance amounted to $3.58 million.
The management attributes these indicators to the fact that the team failed to qualify for BLAST.tv Paris Major 2023, which took place in May. The letter to shareholders clarifies that the Majors are of greatest importance both from an economic and from a prestige perspective.
According to Astralis Group CEO, Anders Hersholt, the organization is dissatisfied with the latest financial report. However, the club expects performance to improve following the progress of the main Counter-Strike team. Astralis also expects the revenue to reach $11.9-12.6 million by the end of 2023.