Esports news and media publication Inven Global has laid off its editorial staff and is seemingly shutting down as a news outlet, according to former Inven journalist Tom Matthiesen.
Inven Global has not officially released a statement regarding the layoffs or its closure, but Matthiesen was previously employed by the outlet until announcing the news today. The news of the layoffs was also confirmed by the publication’s Editor in Chief, Radoslav Kolev.
Inven Global launched its publication in 2016 and has provided B2C coverage of the esports industry across multiple titles, most notably within the League of Legends scene.
Details about the future of the outlet have not been disclosed. However, after contacting some of the staff that have been let go, indications are that the company will shift away from being a news outlet, instead focusing on games marketing. Esports Insider has reached out to Inven Global for comment.
2022 continues to highlight the volatile nature of esports media. Upcomer laid off the bulk of its editorial staff in March. This is despite the fact that the site was backed by Enthusiast Gaming, the parent company of Luminosity Gaming.
In February, community-led esports news and media outlet Rush B Media also announced that it would halt operations after four years.
It comes at a tumultuous time for the esports industry, as well as the wider economy. Investor sentiment and global markets have taken a hit as a mix of factors — including the COVID-19 pandemic and Russia’s ongoing invasion of Ukraine — have led to fears of an economic downturn.
As a young industry heavily reliant on investment and dominated by loss-making companies, esports and gaming may take a particularly hard hit. Earlier in June, Esports Insider also reported that StreamElements had restructured 20% of its workforce.
