How 100 Thieves Revived Its Sponsorship Game in 2024: A Deep Dive

After a failed diversification attempt in 2023, 100 Thieves has strategically refocused on brand partnerships in 2024, leading to a significant increase in sponsor interest.

Sponsorship Success

The esports organization has seen remarkable results. In 2023, they signed 11 new sponsors and achieved a 50% renewal rate. By 2024, this surged to 23 new sponsors, including big names like Crocs, Adidas, and Google Play, with a 75% renewal rate over the past year. Although the exact monetary value of these deals remains undisclosed, they typically involve fees for deliverables such as social media posts, content pieces, and jersey logo placements.

Despite the challenges faced by many esports companies due to shrinking marketing budgets, 100 Thieves demonstrates that the industry still relies heavily on advertising for sustainability.

Company Evolution

Founded in 2017 by former pro gamer Matthew “Nadeshot” Haag, 100 Thieves built a massive fan base with its streetwear-inspired aesthetic. Between 2021 and 2023, the organization embarked on a diversification strategy, acquiring the Higround peripherals company, launching an energy drink, and establishing a game development arm. However, this shift led to a decline in the brand partnership aspect, resulting in a 15% staff layoff and a loss of sponsors.

In late 2023, 100 Thieves spun off its energy drink and game development initiatives, returning to its core focus on esports.

Leadership Changes

The refocus on sponsorships coincided with significant leadership changes. In March 2024, John Robinson transitioned to an advisory role, with Julie Van stepping in as COO. Jacob Toft-Andersen was promoted to president, while Haag shifted his focus back to content creation. Van stated that Haag's involvement in content creation not only promotes his brand but also represents 100 Thieves effectively.

Innovative Sponsorship Approach

100 Thieves has adapted its sponsorship strategies to include creative activations, moving beyond traditional logo placements. Examples include hosting a Heineken sim racing league party and a team-branded “Summer Block Party” in August featuring sponsors like Neuro Gum. According to Ryan Chen, CFO of Neuro, 100 Thieves emphasizes authentic integration and collaboration, creating unique experiences that resonate with their community.

Positive Partnerships

As 2024 unfolds, 100 Thieves' sponsors are expressing satisfaction with the organization’s new direction. For instance, Lexus announced an extension of its partnership, highlighting the successful collaboration between the two entities. However, not all partners have re-signed; Subway opted not to renew their sponsorship in 2024, demonstrating the fluctuating dynamics of brand partnerships in esports.

The Bigger Picture

The rebound in 100 Thieves' partnership business reflects a broader resurgence in marketers' interest in esports following the struggles of 2023. With fewer active esports teams, prominent organizations like 100 Thieves are positioned to capture more brand attention.

Gareth Leeding, global chief strategy officer at Livewire, notes that while being at the top of the esports triangle offers targeted opportunities, broadening the appeal by integrating other entertainment elements can enhance engagement with a wider audience.