Gaming heavyweights raise $17M for new esports network

NEW YORK (AP) — A new venture backed by many of video gaming's biggest publishers is unveiling a network that hopes to be to esports what ESPN has been to traditional sports.

VENN is set to launch in 2020 and aims to give the fragmented esports scene a home base for content with higher production value than gamers are used to with online streaming. The network was co-founded by four-time Emmy-winning producer Ariel Horn and entrepreneur Ben Kusin and has raised $17 million from investors including co-founders from Twitch, Riot Games and Blizzard Entertainment.

VENN, short for Video Game Entertainment and News Network, will debut with live studios in New York and Los Angeles. There is expected to be 55 hours of original programming per week, including gamer streams, talk shows, documentaries and live esport events. It already has deals in place to broadcast on Twitch and YouTube and expects to be available on mediums like Roku or Sling.

Esports revenues are expected to top $1 billion this year, and global viewership numbers are rivaling those of traditional sports — nearly 100 million viewers watched last year's League of Legends world championship, roughly on par with TV viewership for the Super Bowl.

Yet the industry remains disjointed. Just like not all football fans also watch hockey, Fortnite players aren't necessarily keeping tabs on League of Legends or Overwatch. Creating a common space for all those gamers has proven difficult. Perhaps the closest thing is the online streaming platform Twitch, but gamers there tend to find streams specific to their interest, creating little overlap with other gaming domains.

VENN hopes to solve that with content built around the culture of gaming.

"I think we're more of a hybridized ESPN and what MTV TRL (Total Request...