T1 recently celebrated its twentieth anniversary, looking back on two decades of success as an esports organisation. Over many years, T1 has become one of the most recognisable brands in the industry, boasting multi-million-dollar wins, rockstar players, and iconography that millions of fans feel proud to represent.
During ESI Lisbon, T1’s CEO and COO took to the stage to reflect on the last 20 years before pivoting and focusing on what comes next for the legendary organisation.
It seems that the company’s leadership team is going all in with Lee ‘Faker’ Sang-hyeok.
‘It’s Here to Stay’
At ESI Lisbon, T1’s CEO, Joe Marsh, and the firm’s COO, Josh Ahn, graced the stage to deliver a presentation focused on the company’s success over the last two decades. Marsh had bold things to say about the future of the esports industry, which T1 has spent many years trying to spearhead:
Esports is the new version of sports for the younger generation, and it’s here to stay.
The pair revealed that in the past five years, they’ve increased T1’s revenue by 3300%, even during COVID-19, which saw many organisations face a massive downturn. From a business perspective, Ahn revealed that T1’s merchandise sales are posed to overtake the revenue earned from sponsorships for the first time, which is a huge deal.
Typically, most revenue in the esports space is made up of advertising and sponsorships. This is a testament to the power of the T1 brand and the popularity of the product, particularly in South Korea.
Ahn then explained that they’re putting more eggs in the ‘Faker basket’. Faker has long been a superstar of the esports industry and has been branded the GOAT by many millions of fans. He’s one of the most instantly recognisable competitors on the planet, and his passion is nothing short of intense and inspirational.
We want to make something similar to the Jordan brand but with Faker.
Ahn was referring to Michael Jordan’s prolific partnership with Nike, which was kickstarted in 1984. It’s now worth almost $7 billion to Nike.
It’s tough to see Faker-branded products hitting those lofty heights, but there should be a comparable success, downscaled a little to accommodate for the still-growing market that is esports. He remains one of the most appreciated and storied competitors in the business, so if anyone can do it, it’s him.
T1 recently landed in the top spot at the inaugural Esports World Cup, a win that came months after a victory at the League of Legends World Championship. The team is now preparing to go back-to-back at this year’s LoL Worlds, which starts tomorrow.
Do you think Faker is an iconic enough player to have a successful lifestyle brand built in his image? Let us know on the Insider Gaming forum.
For more Insider Gaming Esports, check out what N0tail had to say about the esports industry
