Pixel P&L: A Financial Turnaround for Global Esports?

It’s Monday, November 11th – and today we’re diving into the numbers!
Global Esports claims profitability for FY 2024—here’s what powered their impressive revenue surge and how their financials have transformed over the past two years. Also, don't miss our feature story on the comeback of Co-Op Gaming, breathing new life into multiplayer!

In other big headlines:

• Take-Two’s financials soar as mobile gaming revenue reaches new heights.

• Sony’s bold move to skip the Indian market for the PS5 Pro—what’s behind the decision?

Catch up on the must-know trends reshaping gaming and esports.

Global Esports announced on LinkedIn that it achieved profitability for FY 2024, reporting $2 million in actual cash revenue across its Indian and Korean operations. According to CEO Rushindra Sinha, this figure represents real cash flow and not merely an accounting metric, signaling a robust financial step in a challenging period for the industry, often referred to as the “esports winter.”

The organization attributes much of its financial success to its partnership with Riot Games’ Valorant Champions Tour (VCT), which has become the core revenue driver. Global Esports joined VCT two years ago, and since then, revenues have quadrupled, with the team now aiming to focus on reinforcing this growth channel.

Despite reaching profitability, Sinha acknowledged that Global Esports still grapples with cash flow issues. The company’s focus now shifts to cost-cutting, margin improvement, and developing a sustainable business model that supports growth without financial strain.

“This milestone reflects the privilege we feel in achieving profitability in a tough market,” Sinha wrote, adding that while challenges remain, the company is committed to fortifying its financial position.

Remember the joy of teaming up with friends for games like Contra and Double Dragon, tackling levels side by side? Co-op gaming, once the heart of multiplayer, faded with the rise of competitive online titles, but it’s now making a remarkable comeback.

Our feature delves into this resurgence, revealing how co-op gaming is reshaping the industry. In 2023 alone, nearly 800 co-op titles launched on Steam, capturing a growing market for players who crave shared, non-competitive experiences. Games like Helldivers 2 and Palworld have redefined the genre, bringing in impressive sales and sparking a wave of enthusiasm in streaming culture.

Why is co-op back in style, and what does it say about today’s gamers? With inclusive gameplay that appeals across demographics and an emphasis on connection over competition, co-op gaming could be a lasting cultural shift in a fragmented world. This feature story explores the legacy and new appeal of cooperative play—one that seems poised to redefine how, and why, we play.

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Last year alone, more than 1,800 curated meetings took place, sparking connections and opportunities for growth. If you’re looking for investment or publishing deals to elevate your game studio, Investor-Publisher Connect is a must-attend. Don’t miss out on this chance to make lasting partnerships that could shape your future in gaming.

Learn more about Investor-Publisher Connect on IGDC’s website. Grab your passes here.

Pocketpair Reveals Patents at Center of Nintendo and Pokémon Co. Lawsuit Over Palworld

Palworld developer Pocketpair has disclosed the patents underpinning a September lawsuit filed by Nintendo and The Pokémon Company. The three Japanese patents—Nos. 7545191, 7493117, and 7528390—detail mechanics central to Pokémon gameplay, including throwing objects at creatures, aiming, and riding in-game characters. Nintendo alleges these elements are replicated in Palworld and seeks damages of 5 million yen each plus late fees, alongside an injunction. Filed nine months after Palworld’s 12-million-copy launch, the lawsuit has delayed the game’s Japanese PS5 release, though Pocketpair is pressing forward with a mobile version licensed by Krafton.

Sony Skips India in PlayStation 5 Pro Global Launch Due to Wi-Fi Restrictions

Sony's PlayStation 5 Pro, released globally on November 7, will not be available in India, the company announced, citing regulatory limitations on the 6GHz Wi-Fi band essential to the console’s enhanced features. Sony India’s statement noted that the PS5 Pro relies on Wi-Fi 7, which uses the 6GHz spectrum—a frequency currently restricted in India. The delay stems from the Department of Telecommunications’ decision to reserve this spectrum for space and telecom services, affecting advanced tech releases. While India’s allocation decision is anticipated by early 2025, Sony has not specified when the PS5 Pro might arrive.

Mobile Games Drive 55% of Take-Two’s Revenue

Take-Two Interactive reported that mobile gaming drove 55% of its Q2 2025 revenue, reaching $740.2 million, up from $646.2 million the previous year. Total revenue rose 4% to $1.35 billion year-over-year. CEO Strauss Zelnick highlighted Match Factory’s rapid growth, which is on track to become Zynga’s second-largest title, and Toon Blast, which saw over 50% growth in net bookings. Other contributors included Nordeus’ Top Eleven and hybridcasual hit Screw Jam, boosted by direct-to-consumer efforts. Zelnick also noted optimism about the potential for third-party Android stores to reduce distribution costs, though those figures aren’t factored into the company's current outlook.

TALON Esports Expands into Europe, Establishes Malta Headquarters

TALON Esports has officially entered the European market, establishing a new base in Malta. TALON highlighted Malta's "supportive business policies," government esports initiatives, and quality of life as key factors behind the move. The organization aims to leverage Malta’s environment to provide resources such as boot camps and player development, enhancing its support for teams. TALON's European expansion is part of a long-term strategy to bolster its position in Europe and strengthen its foothold in the global esports landscape.