Dec 19, 2016 05:08 AM EST

'League of Legend' Latest News & Update: 'LOL' Fetched $300M Deal For Its Own Streaming App

"League of Legends" again made a revolutionary feature. The game is getting its own the streaming app!

A deal was confirmed between Tencent Holdings, Riot's parent company, and BAMTech, a spin-off of MLB Advanced Media partly owned by the NHL and Disney. "League of Legends" will soon have its own dedicated streaming app to supplement platforms like Twitch and YouTube. The forthcoming app will back features like video on demand and player profiles, giving "League of Legends'" fans an improved and better experience.

In an interview with Wall Street Journal, Riot eSports director Jarred Kennedy said that their objective has always been to construct "League of Legends" into a foremost global sport. He added that the team wants their sport to be financed by itself and that they think this deal is going to help them get to that goal. BAMTech will manage dissemination to other streaming platforms as well as be getting the exclusive rights to stream and monetize "League of Legends."

The confirmed deal is exclusive through 2023 and will cost BAMTech, at least, $300 million. It aims to make the cash flow back by sponsorship and advertising. "League of Legends" streams will continue to be free rather than going pay-per-view. However, Riot has not yet ruled out premium content plans in the future. MLB Advanced Media chief Bob Bowman said that no other sport has seen this kind of global online audience phenomenon for live events like "League of Legends."

The agreement is the biggest milestone for e-sports. BAMTech is fundamentally the gold standard of live-streaming, controlling the whole digital backend for the Professional Golfers' Association, National Hockey League, and other big-name streaming apps like HBO Now and ESPNWatch, says, The Verge. It is no longer amazement that "League of Legends," looks like money to conventional sports broadcasters. The game has earned 43 million viewers who tuned in to watch the October world championship.

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