Ninjas in Pyjamas (NIP), one of the most iconic names in global esports, has reported a net financial loss of $12.7 million in 2024—a slight recovery from the $13.3 million lost in 2023. Known for its championship-caliber Counter-Strike rosters, NIP is making bold strategic moves despite industry-wide headwinds. Backed by renewed partnerships, including a strengthened Red Bull collaboration and new investments across the Middle East, NIP is turning towards revenue diversification—most notably through event production, game publishing, and regional expansion. These efforts provide a glimpse into how esports organizations are adapting to an evolving business landscape.
While the company’s financial health remains under pressure, their game publishing efforts, expansion into Abu Dhabi, and high-profile alliances signal a broader, long-term vision for growth in both gaming and competitive esports.
Revenue growth driven by events and innovation
Despite its financial loss, Ninjas in Pyjamas achieved a 1.9% revenue growth year-over-year, reaching $85.3 million in total revenue by the close of 2024. A significant contributor? A staggering 147.5% surge in revenue from event production.
By focusing on in-house events and leveraging its esports expertise, NIP has unlocked new income streams outside the turbulent sponsorship market. This revenue shift echoes a larger trend across esports where organizations are doubling down on entertainment value, physical event hosting, and production services. For hardcore fans, this means more immersive tournaments, deeper content offerings, and greater access to pro-level esports.
Game publishing and new titles fuel potential
In a continuing effort to diversify, Ninjas in Pyjamas stepped into game publishing—an industry leap for an esports-first brand. Their publishing arm debuted with the December 2024 release of Re: Aetatis, followed by strategic collaboration with The9 Limited to support MIR M, an upcoming MMORPG tied to NIP Group’s growing IP portfolio.
Venturing into game publishing allows the brand to monetize its creative assets and fanbase directly. By investing in original titles and becoming more than just a team banner, NIP aims to reduce its reliance on tournament winnings or sponsorship revenue. These games may also serve to support community growth and retention among players who follow the organization outside of just match days.
Red Bull partnership and global brand strategy
NIP’s partnership renewal with Red Bull in March 2025 showcases the continued confidence premium brands have in top-tier esport organizations. Red Bull, known for fueling elite performance and lifestyle initiatives, aligns with Ninjas in Pyjamas’ positioning as a high-performance, player-driven brand.
Beyond brand equity, this renewed Red Bull partnership brings access to co-branded activations, fan engagement campaigns, and potential integrations in future events or tournaments. For viewers and fans, this likely means more Red Bull-fueled content—custom video series, training documentaries, and maybe even Red Bull-branded competitive events.
Such collaborations help counterbalance revenue volatility and improve Ninjas in Pyjamas’ visibility beyond endemic esports audiences.
Middle East expansion boosts long-term stability
A key development in NIP’s 2024-2025 strategy lies in its Middle East expansion, most notably with headquarters relocation to Abu Dhabi. This move is more than symbolic—it places the organization in one of the world’s fastest-growing esports markets.
Bolstered by support from the Abu Dhabi Investment Office and regional projects like the gaming and tech precinct Optics Valley in Wuhan, China, NIP is positioning itself as a hub for esports innovation. The brand’s integration into this emerging market provides not only investment capital but also accelerates international presence and infrastructure buildup for future ventures.
The Middle East expansion could also help offset the declining profitability from traditional Western markets weighed down by rising operational costs and saturated sponsorships.
Addressing the continued financial loss challenge
Although Ninjas in Pyjamas narrowed their net loss slightly in 2024, the decrease in gross profit—from $7.2 million in 2023 to just $3 million—underscores ongoing financial difficulties. The organization continues to feel the impact of unstable viewership trends, reduced sponsorship budgets, and broader economic pressures within esports.
Still, the year’s improved numbers coupled with higher revenue figures point to a rebuilding phase. With its sights set on the long-term potential of diversified operations—from influencer networks to hospitality ventures—NIP isn’t backing down. Instead, it’s adapting to sustainability and retention within a dynamic esports economy.
Fans and stakeholders should watch closely in 2025, as the organization continues to experiment with business models designed to future-proof the Ninjas in Pyjamas brand.
Frequently asked questions about Ninjas in Pyjamas (FAQ)
Is Ninjas in Pyjamas still active in Counter-Strike?
Yes. Ninjas in Pyjamas continues to field professional teams in Counter-Strike and remains one of the most recognized organizations in the space.
Why did Ninjas in Pyjamas move its headquarters to Abu Dhabi?
The move aligns with their global expansion strategy and taps into the rising esports investment and infrastructure opportunities in the Middle East, particularly through the Abu Dhabi Investment Office.
What is Re: Aetatis?
Re: Aetatis is a game published by NIP announced in late 2024. It marks the organization’s debut in the game publishing sector as part of its strategic diversification.
How is NIP addressing its financial loss?
Through diversifying its revenue streams, including event production, game publishing, influencer content, and regional expansion into new high-growth markets.
What role does Red Bull play in NIP’s future?
Red Bull continues to be a strategic partner, supporting content and event initiatives that enhance the brand image and fan engagement around Ninjas in Pyjamas’ competitive and entertainment offerings.
Sources to this article
NIP Group. (2025). Full-year Financial Results 2024. Internal corporate document analyzed for earnings, partnerships, and strategic pivots.
Esports World Cup Foundation. (2025). Press release on NIP collaboration. March 2025.
Red Bull and NIP Group. (2025). Joint announcement on sponsorship continuation and activations. March 2025.
The9 Limited & NIP Group. (2024). Strategic agreement on MIR M support. November 2024.
Abu Dhabi Investment Office. (2024). Funding announcement and esports investments program details.
Article written by DonkAI for csdonkey.com.
