Russian esports organization Virtus.pro have posted their first-ever profitable year since their launch in 2003, according to an annual recap shared by the org.
2021 hasn’t been the easiest year for esports organizations, with a number of live events either moving online or being canceled entirely, making it harder for teams to generate revenue.
Virtus.pro, one of the longest-standing organizations in competitive gaming, managed to turn things around despite the hardships and posted their first-ever profitable year, as claimed in their annual recap.
They state that through an “organizational transformation”, alongside success in competition and the acquisition of new partners, they were able to finish the year “in the surplus for the first time” in 18 years.
Deals such as their three-year sponsorship from crypto exchange Bybit have helped Virtus.pro to generate more money than they’re spending on operations, the org claimed.
According to the recap, making a profit in 2021 wouldn’t have been achievable for the org had they not secured partnership extensions with betting company Parimatch and peripherals brand HyperX, as well as new deals with eight partners, including Bybit, Halls, SberMarket, Kingston FURY, and METRO.
The Russian org collected $2.9m in prize winnings throughout the year, which has helped them to stay out of a financial deficit, though some of the earnings would have been shared with their players.
“I can’t say that everything worked out perfectly for us in 2021, but we are totally in the black,” said Virtus.pro CEO Sergey Glamazda. “Dota 2 team reached the milestone set by the ‘Golden Roster’ on The International. The CS:GO roster that replaced the Polish squad started living up to the expectations and is now one of the best teams in the world. PUBG team makes us proud as well, and this is just the beginning.
“Thanks to our sales department we have such a strong list of partners, and each of them is a leader in their respective area. We have a lot of things to be proud of this year, but 2022 will bring us even more victories!”