Blue Star Capital (BLU) investee company Dynasty Gaming & Media has announced a 50:50 joint venture partnership with Lets Play Live, the largest esports tournament organizer in Australia and also one of the largest gaming-related content creators worldwide.
The new Lets Play Live platform was launched in April and has already gained over 400,000 registered users, quickly making it Australia’s largest esports and gaming platform. With a growing number of brands and partnerships signing up with the new JV, the number of users is expected to increase significantly in 2023.
Australian gamers have embraced the esports industry, with revenue generated from video games projected to reach approximately A$6.5 billion in 2023 and A$9 billion by 2027, according to data from Statista. Moreover, the average revenue per user is notably high in Australia, with an average of around A$730, compared to the global average of approximately A$211.
Tony Fabrizi, Executive Chairman of Blue Star Capital, commented: “The JV partnership with LPL is expected to be a significant step with Dynasty transitioning from service provider to media owner. We expect this change in focus will be repeated in future contracts. Dynasty’s development of its highly sought after esports and gaming platform puts it in an excellent position to partner with existing media owners to exploit this growing market.”
Blue Star owns a 13 percent stake in Dynasty venture, worth in excess of £5m.