Jack Etienne: Despite 2023 being an esports winter, the club is still profitable

Cloud9 CEO Jack Etienne recently revealed on his personal social media account that despite 2023 being an esports winter, the organization still managed to turn a profit.

The year 2023 was challenging for the esports industry, leading to several clubs and businesses merging or ceasing operations entirely. Referred to as an 'esports winter' within the community and the industry, the lack of recovery signs persisted into 2024.

Reports indicated that some clubs aimed to navigate through the tough times by reducing player salaries or cutting down on tournament participation, focusing more strategically and opting out of less rewarding events.

However, not all organizations struggled during this time. Cloud9's CEO mentioned their organization turning a profit in 2023 despite the difficult industry climate.

"2023 has been an incredible year that brought Cloud9 back to profitability despite difficult conditions in our industry. I’m blessed and grateful to be working with exceptional players, staff, and partners with the best fans in the world!

Happy New Year!"

Jack Etienne didn't specify the exact means through which Cloud9 achieved profitability, but it potentially involved staff cuts and apparent salary reductions for players. Notably affecting their Valorant division, the club released two influential players, yay and vanity, shortly after agreeing to contracts, alongside reducing their tournament appearances.