Thug Says S8UL Is Not a Profitable Organization
S8UL and 8Bit are among the most prominent esports organizations in India. S8UL is a merger between Team Soul and Team 8Bit, two mobile esports major organizations. It has had various rosters in multiple gaming titles such as Pokemon Unite, Battlegrounds Mobile India (BGMI), Valorant and Free Fire. 8Bit currently has rosters in BGMI and S8UL had its roster in Pokemon Unite.
In a recent video, Animesh “Thug” Agarwal owner of S8UL and 8Bit revealed that S8UL as an organization is not profitable and that his talent management agency 8Bit Creatives is profitable.
Thug talks about S8UL and 8Bit’s profitability
In a recent released by Orangutan, members from several esports organization like Thug from 8Bit, Rushindra Sinha of Global Esports, Rohit Jagasia from Revenant Esports and Yash Bhanushali of Orangutan came together to discuss and talk about esports in India.
Thug was asked by the host Ocean “Ocean” Sharma that “everyone in the Indian esports scene talks about S8UL and 8Bit being profitable. What is the thing that you have done differently from others?”
Thug responded by saying “I have said it multiple times on record that S8UL is not profitable. It is the talent business that I have built that is profitable. There are two reasons why S8UL is not profitable.
There are brands willing to pay a sum of money but I don't want to undervalue myself. I can wait five years but I want full value for money for the amount that me, Goldy and Mortal have invested for the last four years. So it's either I undercut my prices and take little amounts from everywhere and make it work, but I don’t want to do that.
One simple reason is that S8UL is not profitable because brands don’t have enough money to pay us. I don’t want to underrate esports, I don’t want to undervalue esports and also I don’t want to undervalue my organization. To be honest if I am sitting and talking about esports we are not profitable. We are at heavy losses, almost the same amount that everyone over here has. We are not completely burning cash as we are doing merchandise and there are some content sponsorships every now and then.
When I have spoken to brands and pitched them an esports team, I have asked for the money that I want. It's not like they don’t have the money, they will readily give a small amount but are not willing to give a big amount. We are still burning cash but not as much and I would say that we still have control over it”.
8Bit Creatives is the talent management agency and all the creators in S8UL come under it. S8UL was also crowned as the “The Content Group of the Year” at the Esports Awards 2022.