Japanese content provider and esports event organizer, PlayBrain, raised $6 million in its Series A funding round, led by BITKRAFT Esports Ventures. The raised money will be used to manage tournaments and leagues in Japan. Additionally, funds will go towards creating esports content. Series A round funding totals up PlayBrain’s raised money to an astounding $8 million.
PlayBrain is a Japanese media production and esports event organizing company delving deep into making quality content and organizing tournaments in Japan. The company solves the ongoing problem in Japan, which is a lack of attention to esports.
PlayBrain Shapes Japan’s Esports Scene
Despite esports being a hot craze worldwide, that isn’t the case in Japan. Although Japan is one of the leading countries for game development, competitive gaming isn’t a strong suit. Japan’s annual esports revenue in 2019 only peaked at $56 million, according to BCN Inc. When comparing the amount to regional standards, Japan doesn’t come close to China’s whopping 2019 annual revenue of $187 million, according to Newzoo, which is more than triple the amount.
This massive gap in Japan’s esports market is due to many factors, including a lack of players and tournaments. This gap is so significant that the country places nineteenth as the highest-earning country in terms of competitive gaming. Japan earned $8.5 million in prize pool winnings across the duration of its esports scene. It’s also the fifth in terms of SEA countries like China, Taiwan, Korea, and Malaysia.
PlayBrain wants to be the pillar for the countries’ competitive gaming field. The company will lead Japanese esports by organizing tournaments, helping game publishers reach gamers through large-scale projects, and producing high-quality content.
“Although the Japanese esports market had a late start in comparison to the rest of the world, the esports market in Japan is expected to grow 250% over the next four years.” said Mike Sheetal, Founder of PlayBrain. “We are proud to play an integral role in establishing and building the esports market in Japan and helping it gain more ground in the global esports industry.”
PlayBrain will work with Riot Games for the League of Legends Japanese League. Additionally, the company set huge standards and accomplishes feats by working with other game developers and publishers like Activision Blizzard, EA, Bandai Namco Entertainment, Twitch, Supercell, Alienware, and Intel.
Overall, PlayBrain is another breath of fresh air for the esports industry. It solves the underlying issue of a lack of esports outlets. Instead of participating from different continents, Japanese esports fans and professionals can play and watch from home. PlayBrain’s innovative take and spring-steps also ensure it will be done the right way. This further cements a thriving esports scene for Japan.
Written by Jay Hunter
Comments add a Comment +300
[…] to the growth of the esports industry, more and more brands seek ways to enter. Now that companies realize the potential of this untapped […]
[…] Source: https://www.esportznetwork.com/playbrain-raises-6-million-to-grow-esports-in-japan/ […]