The esports industry continues to grow, and the gaming industry is in almost constant change. At Astralis, we have an outspoken ambition to be an active part of this growth and shaping the development, not just in esports but also in the broader realm of youth culture. Increasing extent, this includes gaming as a competitive discipline, entertainment, in physical and online communities, and within the socio-economic field.

In 2023, Astralis went though significant developments, not only in the short term on the team side but also in alignment with our overarching ambitions to actively contribute to the culture we are a product and part of.

Teams

In 2023, we took several important steps reaching well into the coming years.

Our women's team is now entirely Danish, and we have high expectations for their performance in the upcoming Impact League. With an all Danish team, we aim to support the development of girls and young women in the Danish Counter-Strike scene by being relevant to a new generation of female gamers, and build a team that will make a mark. We want to aspire, and we want to push some of the existing boundaries.

Our talent team achieved some very notable results in the spring, and our players had opportunities to showcase their skills in various contexts, including on the main team. All five players on the team have since been sold, providing them with opportunities to further develop elsewhere, valuable for both Astralis and the players. The goal with the new talent team remains the same: to develop Danish players who can join the main team or become attractive transfer options for other organizations.

Throughout 2023, on our main team we struggled to find the right formula, making several changes along the way. With key players like dev1ce and blameF, along with the acquisitions of Staehr, jabbi, and stavn, we have assembled a Counter-Strike team of Danish players with strong individual qualities. This gives us great confidence in the team and the future as we enter 2024.

In a time when many teams are becoming international, we insist that there is value in maintaining a clear identity—not just for branding purposes but also in the “real world”. We strive to be relevant locally, regionally, and internationally. While we have ambitions to win everything, our primary focus is on acting from a clear identity and doing things our way.

I'm incredibly pleased to witness the reception our team receives when meeting fans in Denmark or playing worldwide. The warmth the players feel, whether at fan events, during our Denmark tour, or in large arenas around the world, means a lot not only to the players but to everyone involved with Astralis. It leaves a huge impression and drives us even more to make a positive difference.

Culture, Health, and building bridges

Astralis is built on our love for Counter-Strike, and in recent years, we've concentrated our team efforts there. This might change as the organization and industry evolves, however, today we are much more than our teams. We engage in public debate, participate actively in cultural events and entertainment, we create and facilitate positive communities across traditional boundaries together with our partners, and we collaborate with various NGOs, private and public institutions in health and education.

This involvement takes place both online and in Astralis Nexus, our extensive center for gaming, entertainment, and education. We work with a wide range of entities in the field, including the Danish Red Cross, Amnesty International, the Center for Pedagogy, the Institute for Human Rights, municipalities, educational institutions, and many more. We do this not only because it is the right thing to do or for the sake of our passionate employees, who dedicate much of their time to making a positive difference, but because we feel a real responsibility. Understanding gaming, its participants, and the positive opportunities it presents to society also influences our own future possibilities inside and outside the core industry.

Business

Today, Astralis has a healthy economy and stands on an exceptionally solid foundation. We've met our financial goals and commitments to the market for the past three years, and aside from some depreciations, which will soon be finalized, we earn more money each year than we spend. Additionally, during the year, we sold the majority of our rights in League of Legends for a three-digit million amount in Danish Kroner, leaving room for investments should we find suitable opportunities.

2023 was also the year we delisted from Nasdaq. The decision to go public was the right one, but like many others, we found that the liquidity in the stock was low, and, in our view, the stock price did not correspond to the development of our business and its potential. Delisting has made us a privately-owned company, with opportunities we believe enable us to create greater value for our shareholders.

With the launch of Astralis Watch, where we broadcast our teams’ matches in Danish as well as a broad range of Astralis- and gaming-related content, we've expanded the fans' opportunities to be a part of Astralis and what we call the Astralis Family. A report by Danish Industry in the summer of 2023 documented the growth in the esports industry, and we see the same trend across our digital channels: more and more viewers, followers, and users are joining, and we have high expectations for our existing and future initiatives in this area.

The same applies to our commercial partnerships, where, in a challenging advertiser market, we stand strong with a product and brand that extends far beyond exposure on jerseys and servers. We managed to retain and extend key partnerships in 2023, and I anticipate that in early 2024, we can present both extensions and new, very interesting, commercial partnerships that go well beyond the teams.

In 2023, we invested many resources in making tough but right choices, providing us with a strong starting point for 2024 and beyond. Thank you to everyone who has been part of this journey for a long time and to all the new ones who have joined us over the year.

We’re entering 2024 with our heads high and chest out. Happy New Year!