GameSquare recently completed its acquisition of FaZe Clan, putting FaZe Banks in place as the new CEO of the brand. Since then, Banks has been ‘cleaning house’, stripping down the company’s social media profiles and bidding farewell to some age-old content creators and gamers in the space. Recently, one of the streamers let go by FaZe – FaZe Testy – spoke candidly in a video explaining why he’d been dismissed by FaZe after so long.
In his breakdown, Testy claimed that FaZe Clan is preparing to move away from gaming and content creation. He stressed that it’s an area that’s making FaZe Clan no money, and there’s a strong desire to split away from that part of the business, hence FaZe dismissing content creators so soon after the acquisition. He did however assure his audience that FaZe will remain in esports – which is where the brand has excelled for many years.
End of an Era
FaZe Clan found its feet through sniping montages and gaming content uploaded to a voracious audience on YouTube more than a decade ago. It became known as the de facto standard for Call of Duty content before the brand expanded, covering many more titles in a bid to be the number one name in gaming and esports. Since the firm was founded almost fifteen years ago, it has gone from strength to strength – but hasn’t been immune to its fair share of struggles.
It was just yesterday that GameSquare’s $17 million acquisition of FaZe Clan was closed, and changes are already happening behind the scenes. In his video (which you can see below), FaZe Testy said:
‘My understanding is that this whole ‘gaming, content creation’ is not bringing anything to FaZe and it’s not doing anything for them, and they’re just pretty much getting rid of that. They’re still obviously doing esports and they’re doing amazing in esports. But times have changed – that’s just how it is.’
In a post on Twitter, Jake Lucky revealed that his sources suggested FaZe Clan is moving to operate on a ‘skeleton crew’ as a reorganisation takes place. It’s a monumental effort that’ll change the face of the biggest brand in gaming – and fans are hoping it’ll be a change for the better. FaZe Clan has been a staple of the esports and gaming industries for the longest time, and it’ll be heartbreaking for millions of fans to see the brand flounder.
Hopefully, under the watchful eye of the ‘OG’ leaders – including FaZe Banks – FaZe Clan can once again prosper. There’s no telling how these changes will impact FaZe’s initiatives that are designed to boost up young, aspiring creators and get them a place on the team – but we’ll know soon enough.
For more industry news, Esports.net
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