26 Oct YuuGames Bags Yet Another Major E-Sports Event in China, Hosting CIG With The Chinese Ministry of Industry and Internet Technology
Singapore, October 26TH 2015 Singapore-listed YuuZoo Corporation Limited (“YuuZoo” SGX: AFC.SI), one of the world’s fastest growing social e-commerce companies, is pleased to announce that it through its China joint venture YuuGames has secured the rights to co-organize the China Internet Gaming (CIG) 2015 e-sports competition with www.9eplay.com and the Ministry of Industry and Internet Technology (MIIT), the department responsible for the administration of China’s industrial branches and information industry. 60 teams 15 provinces will compete for the top position and prize money of RMB 3.5 million (S$ 772,721).The event will kick off on November 2015 and culminate in a grand finale on 23rd January 2016, in Beijing.
The new agreement comes hot on the heels of YuuGames signing the agreement to host China’s top e-sports event ESCC (Electronic Sports Cup of China).
CIG will pay YuuGames to organize the event in four provinces and market the event across nine of the 15 provinces. In addition to the fee paid by CIG, YuuZoo will gain from the new deal by new users being added to the YuuGames platform, from promotional fees, advertising revenue and e-commerce sales.
Touted as one of the largest events in its category, CIG 2015 participants can choose from Real Time Strategy (RTS) games such as FIFA Online 3 and StarCraft II; Multi Online Battle Arena (MOBA) games such as League of Legends and DOTA 2; Massively Multiplayer Online Role-Playing Games (MMORPG) such as World of Warcraft; and card games. In addition to the professional teams, individual gamers can also participate in CIG 2015. This means CIG targets a different segment of gamers than ESCC which targets internet clubs and cafes.
With two of the largest e-sport events in China now hosted and managed by YuuGames, the company is fast emerging as a leading player in this fast-growing and lucrative business in China.
YuuGames, in conjunction with its hosting partners, plans an aggressive advertising blitz online, in print, and across broadcast media. This media blitz is supported by events to secure interest among the three million gamers expected at the event.
Commenting on the deal, James Sundram, CEO, YuuZoo said, “As the first foreign company making major headway in the fast-growing and potentially very lucrative e-sports business in China, we are very proud to work with the Ministry of Industry and Internet Technology and to support the CIG 2015 event. After securing ESCC and now CIG 2015, YuuGames is fast emerging as a leading player in this space in China. We are able to reach two major market segments in e-sports simultaneously. This will in a major way support our strategy to increase our active users in China and to grow our advertising and e-commerce revenue there”.
Background: The market potential around e-sports and social e-commerce linked to it is huge in China. US$18 billion is annually generated in revenue from 446.3 million gamers in China. The PC game market continues to grow, with e-sports acting as a catalyst. In an article from Venture Beat, e-sports has been identified as “the next multibillion dollar tech trend from Asia.” Improved internet access, adoption of 4G services, and increase in mobile usage all contribute to the industry’s growth. International research firm IDC states that “in 2015–2019 the compound annual growth rate (CAGR) of sales income of the China game market is forecasted to be 15.4%.”
Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), with access, after the recent acquisition of 26 million mobile gamers in China to over 110 million users in 164 countries, YuuZoo uniquely combines social networking, e-commerce and games in a mobile-optimized, fully localized virtual shopping mall, where the consumer can access hundreds of targeted social networks, targeted shops and targeted entertainment through one single login. All networks are localized for each market as comes to language as well as merchandise and design. To see the networks, log into: www.yuuzoo.com. For more information about YuuZoo, please log on to:www.yuucorp.com.
For more information, please contact:
Aru Adil Sayed, Head of Corporate Communications