VSPN's Next Phase: Dino Ying on the Future of Esports - TechCrunch

In the wake of news regarding nearly $100 million in Series B funding for Chinese esports organization VSPN (Versus Programming Network), led by Tencent Holdings, TechCrunch conducted an email interview with the company’s founder and CEO, Dino Ying, to discuss his vision for the company’s future.

Established in 2016 and based in Shanghai, VSPN quickly became a leading force in Asia for organizing esports competitions and producing related content. The company has since broadened its operations to include managing physical esports venues.

VSPN resumed hosting large-scale esports events with live spectators in August, while adhering to stringent COVID-19 safety protocols.

TechCrunch: VSPN possesses a comprehensive content creation network centered around its esports activities. Could you elaborate on the specifics of your short-form video strategy? Does this include plans for TikTok?

Ying: VSPN plans to leverage our exceptional video production capabilities and deep understanding of the esports landscape to develop diverse content formats. Our aim is to deliver a fresh and engaging esports experience to both our current fanbase and a broader audience. Kuaishou, as an investor and strategic ally, will provide full support as a media platform to maximize the reach of our content. Short-form video is a crucial component of our future plans, and we anticipate collaborating with platforms globally in this area.

TC: What portion of the esports market does VSPN currently hold?

Ying: While there isn’t a definitive market size estimate for esports, VSPN is undeniably the largest esports organization in China, employing over 1,000 individuals and covering all the prominent esports tournaments known today. By numerous metrics, we are the world’s leading esports organization and are committed to continued expansion.

TC: What factors have contributed to Shanghai’s emergence as a hub for esports?

Ying: As China’s largest and most internationally-focused city, Shanghai boasts a dynamic and increasingly sophisticated economy. The city actively promotes innovation in technology and emerging industries.

The Shanghai government has implemented supportive policies and initiatives to foster the growth of esports both within China and on the international stage. These measures have positioned Shanghai as a global center for premier esports tournaments.

TC: How significant is research and development within esports to VSPN, and why?

Ying: It is absolutely essential for VSPN. As a comprehensive esports solutions provider dedicated to building a sustainable global esports ecosystem, data analysis and R&D enable us to enhance the experience for our fans. Our research center will allow us to continually refine our operations and advance the industry as a whole.

TC: You hold the positions of co-founder, chairman, and CEO. Could you describe the role of co-founder Ethan Teng?

Ying: Ethan Teng is the co-founder and president of VSPN. As a key partner with extensive experience in the esports industry, Ethan plays a critical role in guiding the company’s strategic direction and overseeing its daily operations.

TC: What is the nature of VSPN’s strategic partnership with Tencent?

Ying: VSPN is a vital partner to Tencent within the esports sector. With Tencent’s backing, VSPN has established a leading position in esports tournament content production. Since the inception of esports in China, our deep industry knowledge has been instrumental in the development and maturation of the esports ecosystem. Together with Tencent, we will continue to generate new opportunities within the industry.

TC: What led you to select these particular partners, and what was the strategic rationale behind those choices?

Ying: Alongside Kuaishou, VSPN is focused on creating an esports short-form video ecosystem to diversify our content offerings and connect top-tier creators with leading platforms. Both Tiantu Capital and SIG, with their broad portfolios in the consumer and TMT sectors, will contribute their industry insights and expertise to support VSPN’s strategic growth. Through our investors, we aim to establish esports as the premier sport for the next generation.

TC: Beyond its core esports tournament and content production business, VSPN operates branded esports venues. How important are these additional businesses – such as the venues – to VSPN’s primary offerings? What level of growth do you anticipate in the coming years?

Ying: Regardless of the specific business area, VSPN’s primary goal is to deliver the best possible esports experiences for our fans. These experiences encompass not only online viewing but also in-person events where fans can attend physically. We view our offline business as a natural extension of our services, providing an important complement to our overall offerings. We expect its growth to align with the demands of our fans and partners.

TC: Mobile esports, particularly KPL and PUBG MOBILE (or Peacekeeper Elite in China), have attracted a growing female audience. What is the future of esports for women and girls?

Ying: Mobile gaming has significantly broadened esports’ appeal to female participants and viewers. We foresee a future for esports where women play a more prominent role, not only as athletes on stage but also as fans and, crucially, as skilled producers and decision-makers behind the scenes. The increased involvement of female fans, athletes, and professionals will be incredibly beneficial to the industry as a whole.

TC: What is your outlook on the future of esports in augmented reality?

Ying: We believe esports in its complete form will evolve significantly beyond what we currently see in sports and entertainment. The potential to integrate real-world gaming with virtual competitions is incredibly exciting. VSPN is just beginning to explore the possibilities of new technologies like AR and VR. The emergence of these technologies will enable us to create more innovative experiences, and the opportunities are limitless.

TC: Could you share some details about your professional background?

Ying: First, I’d like to thank TechCrunch for this opportunity – it’s a pleasure to share our fundraise with the world. I have dedicated my career to the gaming and esports industry and am enthusiastic about what lies ahead. The team at VSPN and I are proud to be pioneers in this field.

I divide my time between Beijing and Shanghai, but frequently travel to other Chinese cities like Xi’an, Chengdu, Guangzhou, and Shenzhen, where we have esports arenas and business interests. I also travel internationally to our overseas operations and competitions, and I look forward to resuming that when travel conditions improve.

I am also a fan of traditional sports, particularly football. I enjoy following European leagues and attending matches whenever possible; I visited Stamford Bridge earlier this year and thoroughly enjoyed it, though witnessing the AC versus Inter Derby live is an unforgettable experience.

TC: What motivated you to enter this business, and how did you get started?

Ying: Primarily, because I am a passionate gamer! I’ve been playing computer games since my teenage years and enjoy a wide variety of titles. Earlier this year, I immediately began playing COD Warzone upon its release and often play PUBG Mobile. I’m incredibly fortunate to work in an industry I’ve loved since childhood. It’s a fantastic way to connect with friends, and I’m proud to have spent my career in game development and publishing. Five years ago, esports seemed like the logical next step due to its competitive nature. We recognized a growing trend and founded VSPN with a world-class team to realize that potential.

VSPN is proud to be a leader in a relatively new industry. We believe esports will continue to grow rapidly and become an increasingly important part of the entertainment landscape. Leading a Chinese company with a global future is truly exciting.

TC: What drives you as a business leader?

Ying: Delivering new forms of entertainment to millions of people worldwide and building a global business.

TC: Who do you admire most in the business world?

There are many exceptional business leaders in China who are driving innovation. The live-streaming industry, for example, has experienced tremendous growth in 2020 due to the pandemic, offering entrepreneurs new avenues for product sales and audience engagement.

If I had to choose one, it would be Mark Ren (COO at Tencent Holdings) – he is an outstanding businessman. His ability to create sustainable ecosystems in the entertainment space and identify emerging trends is something all business leaders should strive for. This is something VSPN works hard at, and we are proud to be close partners of Tencent.

TC: What are your thoughts on Silicon Valley?

Ying: It’s an incredible place that has demonstrated how technology can improve lives globally. For many years, it has been a leading center for creativity and innovation and continues to inspire entrepreneurs around the world. In China, we have many areas that mirror the spirit of Silicon Valley!

TC: Is there anything else you would like to share with TechCrunch’s readers?

Ying: This has been a challenging year for many businesses, and the esports industry has had to adapt. However, I believe the world has seen the immense scale of esports and its ability to unite communities and cultures. As the industry expands, we will see larger and more frequent online and offline tournaments worldwide, particularly with the increasing popularity of 5G and mobile gaming. We look forward to being at the forefront of esports for competitors around the globe and hope your readers will enjoy our original content and tournaments.

Finally, with celebrities and major brands recognizing live streaming and casual gaming as new ways to engage with wider audiences, the future for VSPN is exceptionally bright.