ESA Incurs $6 Million Loss from E3 2021

The Entertainment Software Association spent $6 million on the digital E3 2021 event. According to the organization's financial statements for the fiscal year ending March 2022, as reported by IGN. The costs included $3.9 million paid to Paragaon Creative Agency for event management, $1.6 million to Game Cloud Network, and $584,119 to Smithbucklin for running the showcase. Note that the expenses for E3 2021 only account for spending from April 2021 onwards. The financial report also reveals that E3 generated $3.4 million in revenue, while the organization's total expenditure for the year was $7.3 million. Furthermore, ESA president Stanley Pierre-Louis received a salary of nearly $1.5 million, up from $1.3 million the previous year. The ESA also collected $26 million in membership fees, resulting in a total revenue of $39 million. However, after deducting expenses, the organization's net profit was $2 million. This news comes after the ESA announced the cancellation of E3 2024 and 2025.