Inven Global lays off editorial staff
by Adam Fitch ·
Esports media publication Inven Global has laid off its editorial staff.
The layoffs: The decision was announced on July 8.
- Inven Global has been among the few esports-dedicated news publications for years.
- On July 8, journalist Tom Matthiesen announced that the company had laid off its editorial staff effective today.
- A source has informed Hitmarker that seven full-time employees were laid off, with freelancers also being impacted by the decision.
- The company itself has not publicly acknowledged the decision, nor divulged the reasoning behind it, at the time of publication. Hitmarker has yet to receive comment from Inven Global.
- While its coverage has been wide-ranging, the publication is perhaps best known for its League of Legends media across several major regions like Europe and Korea.
The landscape: Esports isn't a forgiving industry as it is, never mind with larger economic hurdles currently at play.
- The current economic situation on a macro level is shaky as is due to several factors, including recovery from the global health situation and the ongoing invasion of Ukraine by Russia.
- Specifically, in esports, the economy has been rough for many companies — including competitive organizations — for years. The industry is in its infancy and is yet to develop numerous robust revenue streams, especially in the context of journalism.
- Digital media in esports has seen many companies come and go over the years as they fail to generate the revenue needed to keep their heads above water. Upcomer laying off the bulk of its editorial staff in March 2022 was a reminder of this fact, despite it being owned and financially supported by a major media company in Enthusiast Gaming.