Riot Games Principal Strategist Keeps a Laser Focus

After serving as head of esports and games for media research firm Nielsen, and then as head of research and insights at TSM, Matt Boyd (’15) landed the role of his dreams at Riot Games. He is principal strategist for global League of Legends esports, in charge of implementing League’s long-term strategic vision across the full esports ecosystem.

With over 100 million active players monthly, League of Legends offers brands access to a diverse global audience with unprecedented passion for the game. Boyd’s role is to help sponsors and other marketers understand and reach this vast engaged audience.

In 2023, Boyd leaned in with the League Championship Series (Riot’s North American LoL esports league) to help with key product decisions and define the league’s 2024 strategy. He also works closely with the LoL esports insights team to define goals, KPIs and measurement plans that help demonstrate product performance. In a nod to Boyd’s talents as a strategic thinker, he was tapped to lead the LoL esports co-streaming strategy, which continues to disrupt how esports (and sports) broadcasts are produced and consumed by fans.

Q: Why do marketers love esports and how did your Anderson MBA can help you break into this booming industry?

The esports industry has existed in some form for several decades, but for years it languished outside the mainstream without gaining the traction of traditional sports. It took the launch in the mid-2000s of blockbuster online games like Defense of the Ancients/Allstars and League of Legends, combined with the growth of online streaming platforms, to establish the nascent industry as a booming sector globally. Today, esports is a multibillion-dollar global industry that benefits from a huge surge in popularity and growth in markets like Korea, China and the U.S. Some analysts project it will pass the $5 billion mark by 2027, despite facing monetization and profitability challenges in some markets.

Just like traditional sports, esports depends first and foremost on an engaging and compelling immersive experience, produced by publishers like Riot Games, to attract and nurture a passionate fan base of both casual and competitive players, as well as spectators. Other similarities include the importance of the business acumen of content publishers in gaining investors, sponsors/partnerships and advertisers in launching league franchise teams and funding in-game revenue opportunities that will grow the game’s fan base and secure the longevity of the brand. Of course, like in any sport, the skill, charisma and marketing of star players and teams, plus a stellar tournament experience, are essential to securing a growing and dedicated fan base. In a departure from traditional sports, a critical variable for the success of esports is the technology-based innovation and savvy of publishers, developers and other partners in updating, launching and distributing games and continuously improving the game experience for all target audiences.

As with any sport, nothing compares to thrill of competition and the adrenaline rush from watching your favorite players and teams crush their adversaries, especially in a live-tournament setting, which League of Legends dominates. Gen Z and, especially, Gen Alpha audiences grew up in a world where reality and fantasy merge almost seamlessly through digital experiences that are available anytime/anywhere. That makes these cohorts a mother lode for brands and marketers seeking to build loyal fans.

Q: Tell us a little about your career journey and how you landed this enviable role at Riot Games, arguably the world’s leading developer of one of the most popular games and esports leagues.

After earning my undergraduate degree in international relations, I got involved in strategic consulting in the healthcare industry, where I really earned my stripes conducting and analyzing data, building recommendations and managing teams and clients. About five years in, I realized I wanted a change, particularly to move into an industry that naturally aligned with my personal passions. I consciously targeted sports, but knew I had to up my credentials and experiences to break in. That’s when I decided to pursue an MBA, and Anderson was my top choice.

Q: Why Anderson?

It was a no-brainer for me. Anderson blended all the variables that were important to me, both professionally and personally. First, Anderson’s unmatched reputation and access to the larger entertainment and sports industry were top-most in my mind. Second, Anderson’s proximity to the biggest players in sports and esports, like Riot Games and the sports and media talent agency Wasserman, were also huge factors. Third and equal to the other two, Anderson’s open and diverse vibe was very appealing. As a person of color, I wanted to feel totally welcome and comfortable in a place where I would spend the next two years making friends, studying with peers and networking.

Q: Which courses in the MBA curriculum served you best?

Two courses really made a difference in how fast I was able to enter an industry where I had minimal experience, except as a passionate fan myself. First is what we called “TABS,” Tools and Analysis for Business. That’s where we dug in on spreadsheets and regression analysis using real-world examples, which helped me ace my interviews. Second was Organizational Behavior, which is part of the core curriculum. It’s one of those courses that teaches skills that often go overlooked and are harder than they might seem to be initially. Learning those principles helps you navigate the culture, values and goals of an organization that are often critical to advancement.

Q: What was your biggest break in entering the esports industry and how did you do it?

I was laser-focused when I arrived at UCLA, doing everything I could to learn, network and get connections in sports. As luck would have it, one of the first people I met was doing a project with UCLA Athletics, which I immediately offered to help with. He had also just come off of his summer internship with Wasserman and helped plug me in there. In the winter quarter of my first year, even though we were strongly advised against side gigs during our first year, I started an academic internship in Wasserman’s consulting practice. Those practical experiences proved to be essential in upping my creds with industry recruiters. After graduation, I parlayed that into a consulting role at Nielsen Sports, where I advised clients from all corners of the sports industry on their sports marketing efforts. Eventually, Nielsen’s efforts came to include esports clients, which I always volunteered to work on because it helped me quickly become a subject matter expert. By the time I left Nielsen Sports I was leading the esports and games practices and had developed a deep industry knowledge. I had advised and partnered with almost every major stakeholder in the gaming world, including Riot! In a way, things have come full circle with my current role, in which I help build the sport of League of Legends.

Q: What advice do you have for recent grads targeting this industry?

Remember, it’s a business, so it needs all the corporate functions that any global business needs: finance, accounting, market research/insights, sales and marketing, brand development, development of sponsors, partners, influencers and community. Of course, if you’re a techie or a creative, you could also get into the distribution infrastructure and game development units. Those areas require not only technical expertise but business acumen — understanding where fan preferences, distribution platforms and narrative storytelling features are going in different markets. An Anderson MBA’s biggest advantage is the emphasis the curriculum places on high-level strategic thinking, combined with practical analytical and business management skills.

Q: Some analysts say that esports leagues have not lived up to their hype and are facing a tough road ahead in terms of monetization and profitability for individual teams and leagues. Your thoughts?

There is no question that the industry is going through a difficult right-sizing period following the pandemic-era boom. Rising costs of capital, inflation and generally challenging macroeconomic factors are applying pressure and pain across the industry. However, Riot’s League of Legends is one of, if not the most robust esports global ecosystems in the industry. Having just concluded the 2023 League of Legends World Championship, which we were very pleased with, we feel pretty good about our sport’s outlook. The holy grail for us is growing the multi-generational appeal of LoL esports so that millennials, Gen Zs, Gen Alpha and other subsequent generations will still look to League of Legends esports for education, new challenges, excitement and social connection.