NIP Group, the parent company of global esports organisation Ninjas in Pyjamas, has reported a net loss of close to $12.7m (~£9.6m) in 2024, according to its latest financial report.
Despite revenue gaining traction in the second half of 2024, NIP Group’s report showed how the company was struggling financially coming into 2025, and how it plans to remedy that.
Despite the loss, NIP Group noted that its total net revenues for 2024 have increased by 1.9% to $85.3m (~£64.2m). This is followed by a 147.5% annual increase in net revenues in event production. 2024’s gross profit was reported to be $3m (~£2.3m), which is lower compared to 2023’s $7.2m (~£5,4m) figure.
Though these figures will be overshadowed by NIP Group’s net loss of $12.7m in 2024, this figure was lower than 2023’s $13.3m (~£10.3m).
Mario Ho, Chairman and Co-CEO of NIP Group, commented on the financial results: “2024 tested the entire industry. Despite this challenging backdrop, we maintained modest top‑line growth in the second half and for the full year, highlighting the resilience of our model.
“As we continue to integrate our businesses and diversify our revenue streams, event production has become a compelling growth engine, with revenues surging 92.6% year-over-year in the second half of the year and more than doubling for the full year.”
NIP Group’s Plans and Ambitions
Alongside the financial figures, NIP Group’s report covers key development plans and achievements to increase the company’s revenue.
Key business updates include its renewed partnership with Red Bull in March 2025, which recently took effect with the Wings For Life World Run. Moreover, the company highlighted Ninjas in Pyjamas successfully joining the Esports World Cup Foundation Partner Programme that same month. NIP Group also collaborated with Optics Valley Traffic Company in February 2025 to create an entertainment hub under Wuhan East Railway Station.
NIP Group has also expanded its esports portfolio, partnering with The9 Limited in November 2024 to make ‘MIR M’ a competitive esports title. Furthermore, the organisation published the sci-fi MOBA game ‘Re: Aetatis’ in December 2024.
Ben Li, CFO of NIP Group, said: “Moving forward, these initiatives will support our strategic growth with a more diverse revenue mix and more integrated operations, combined with strategic funding partnerships that strengthen our foundation. We remain focused on generating long‑term shareholder value.”
Hicham Chahine, Co-CEO of NIP Group, also commented on the organisation’s support and expansion into the Middle East, as it establishes its headquarters in Abu Dhabi and partners with the Abu Dhabi Investment Office.
“By anchoring our strategic initiatives in Abu Dhabi, we are tapping into a vibrant, youthful market that is quickly emerging as the newest global gaming hub,” Chahine said. “With resources on the ground and our years of experience, we can empower local talent, foster grassroots ecosystems, and continue expanding our integrated platform that now spans esports teams, arenas & events, content & influencer networks, game publishing and hospitality.