Esports industry veterans Bryce Blum, Lauren Gaba Flanagan and Christopher Mykles have formed a consulting agency to unlock more value in the space for sponsors and other entities.
The agency, to be announced this week, is called Theorycraft and will be based in Los Angeles. Theorycraft draws its name from the term used in esports to mean the creation of strategies to win a game. Theorycraft will advise corporate sponsors, teams and leagues on topics such as marketing and media in competitive gaming.
Blum, a Sports Business Journal Forty Under 40 honoree in 2018, said the Theorycraft founders think that with guidance, both sponsors just entering the space and already established esports properties can do a better job of growing their brands to obtain more loyalty, exposure or money.
He said Theorycraft will use the traditional structure of consulting fees, which sometimes will be based around a “success fee” where the consultants get paid only if and when the objective they were hired to help reach is accomplished.
“Esports over the last five years has gone through this extreme growth phase … but what hasn’t leveled up, and certainly there are exceptions, is the monetization, and we look at that as a core problem on both sides of the aisle,” said Blum, who will continue running his ESG Law firm that specializes in esports.
Flanagan focuses on helping brands activate in esports and has prior stops at CAA and United Entertainment Group. Mykles, who is known in the esports space as “MonteCristo,” is a veteran of the industry with experience in media and team ownership, and serves as a broadcaster for Activision Blizzard’s Overwatch League. Creative director Nathen McVittie, who has a background in traditional sports, will be another founding member of the group.
A major aspect of Theorycraft’s offering will be in the marketing realm, but the firm also will consult on media rights, merchandise, digital content, influencers and events. Blum said that Theorycraft already has clients, but he declined to disclose them.
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