China Media Group, Esports World Cup and VSPO sign strategic cooperation agreement on National Institute for Esports Development

BEIJING, July 14, 2024 /PRNewswire/ -- China Media Group, Esports World Cup Foundation and VSPO have signed a strategic cooperation agreement on Friday as the new China Media Group National Institute for Esports Development kicked off in Beijing.

China Media Group (CMG), which operates state television networks including CCTV, formally unveiled the new CMG National Institute for Esports Development on Friday. The Institute then signed a strategic cooperation agreement with the Esports World Cup Federation and VSPO during the establishment ceremony, vowing to jointly organize and participate in future esports events.

The three organizations have been long-time advocates for the healthy development of the esports industry. VSPO already works with the Esports World Cup Foundation in organizing the inaugural Esports World Cup, an eight-week mega event currently underway in Riyadh with a record-breaking prize pool of more than $60 million.

The three parties have been longtime proponents of the healthy development of the esports industry. VSPO already works with the Esports World Cup Foundation in organizing the inaugural Esports World Cup currently underway in Riyadh, an eight-week mega event with a record-breaking prize pool of more than $60 million.

"It's a huge honor to be a strategic partner with the Chinese Media Group and the Esports World Cup Foundation with the establishment of the CMG National Institute for Esports Development, which marks another key sign of Beijing's support for esports development," chairman of VSPO, Asia's biggest esports operator, Dino Ying said.

The ceremony fell on the same day as the International Olympic Committee announced that it has partnered with the National Olympic Committee (NOC) of Saudi Arabia to host the inaugural Olympic Esports Games 2025 in the Kingdom of Saudi Arabia. The Olympic Esports Games marks a milestone development for the esports industry and an exciting new chapter for Olympic history.

VSPO was also a partner for the Olympic Esports Week in Singapore last year, which paved the way for the creation of the Olympic Esports Games. VSPO is also an organizer for the esports series at the Asian Games in Hangzhou in 2023 and Jakarta in 2018. 

About VSPO

Founded in 2016, VSPO is the largest esports operator in Asia, producing more than 4,000 matches every year that captivate an online fan base of over 800 million. With a global presence encompassing 14 office locations and 8 top-tier esports arenas, VSPO offers a comprehensive suite of esports services, including tournament organization, marketing solutions, community development, and more. At the same time, VSPO was an organizer for the esports series at the Asian Games in Hangzhou in 2023 and Jakarta in 2018.

SOURCE VSPO