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Modern Times Group MTG AB (MTG) has published its financial results for Q2 2019. MTG continued to deliver on its strategic direction with sales growth of 14% in its two verticals – esport and gaming. The esports Owned & Operated (O&O) sales segment rose by 15% and the gaming sales increased by 19%.
“At MTG, we believe that esports and gaming are the future of entertainment. That is why we partner with and invest in the best entrepreneurs, most promising publishers and leading brands in these industries. And there is a good reason for this; the number of gamers worldwide is expected to grow to 2.9 billion in 2022, up from 2.4 billion in 2018 – and the global esports audience is expected to grow to 645 million by 2022, up from 395 million in 2018. Games – whether played in the home, by the commuter on the go or in an esport arena by a professional esporter – represent a major commercial opportunity,” Jørgen Madsen Lindemann, President and CEO of MTG said.
“As we conclude and report the second quarter in 2019 we see strong improvements in both our esport and gaming verticals. We deliver a record high adjusted EBITDA margin of 29 percent, and we continue to be one of the most active VC players in the landscape through our VC fund, with three new investments made in the quarter,” Jørgen Madsen Lindemann added.
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