Esports holding company GameSquare has announced the launch of FaZe Media, a creator-led media company for FaZe Clan’s IP.
Alongside the launch, FaZe Media has secured an $11m (~£8.68m) investment from Matt Kalish, President and Co-Founder of fantasy sports platform DraftKings.
As a result of Kalish’s investment, he will become a member of the board of FaZe Media which will be led by FaZe Clan Founder Richard ‘FaZe Banks’ Bengston as the new company’s CEO.
According to a release, FaZe Media will focus on building the ‘value of the FaZe brand’, which was launched by Bengston in April 2004. FaZe Media also aims to expand ‘licensing and sponsorship opportunities’ with the FaZe brand in addition to hosting online events and launching merchandise.
FaZe Media will be a subsidiary of GameSquare with the holding company owning 51% and Kalish owning the remaining 49%.
In April 2024, the esports organisation removed a significant amount of its content creation roster in a bid to start afresh following GameSquare’s acquisition of FaZe Clan in March 2024. This also included signing a new crop of streamers.
Justin Kenna, CEO Of GameSquare, spoke on the launch of FaZe Media: “Since completing the acquisition of FaZe Clan, we have focused on returning FaZe’s founders to reboot their brand and reestablish its authenticity.
“We are thrilled to better capitalize this business for growth with $11m in new capital from Matt, and to strengthen the FaZe Media board with his addition. Matt deeply believes in the power of founder and creator-led organisations and shares the vision to return FaZe back to its roots by empowering its creators.”
Throughout the acquisition process, which began in October 2023, FaZe Clan continued to attract new partners and launch a variety of activations. In January 2024, the organisation partnered with crypto casino Rollbit. In February, it expanded its FaZe Fridays series which will offer competitors $1m (~£789,050) in cash prizes.
In recent years, GameSquare has become a prominent company in the esports and gaming industries. In May 2024, it partnered with Dairy MAX to launch a campaign in Fortnite. Earlier this yeah the company also launched Moonlight Studios, a venture focusing on building experiences across metaverse-like games.
The holding company previously owned Complexity before the organisation’s Founder Jason Lake purchased the brand around the same time as FaZe’s acquisition.
