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Offbrand, Ludwig’s production company, announced on X the closure of its event management branch, citing challenges with sustainability.
On December 14, 2024, Offbrand Studios announced on X that they were shutting down its event production branch and that the Game Development branch was not going anywhere. Offbrand cited sustainability as the reason for this decision and laid off several employees. The company posted the employee list for free hiring the laid-off employees.
The company also stated that Ludwig will be creating and hosting events through Mogul Moves, the streamer’s personal brand which recently ventured into event production and management. Later that day, Ludwig went live on Twitch diving deeper into the details of the situation.
Ludwig claimed that his sponsorship money was not paid for over two years and it was being used as a “float” to make the company’s numbers appear better. The 29-year-old stated:
“Well, I found out literally, I think, a month or two ago. Maybe two months ago, that my sponsorship money has not been paid out to me in a couple of years. And it was basically being used as a float to make Offbrand’s numbers look better than they were.”
While many netizens were speculating about the brand’s future and the future of the employees within Offbrand, Ludwig made a video on YouTube addressing the questions. In the video Ahgren advocates for the laid off employees and has requested companies to reach out to the employees. The laid-off employees have also been paid two months of severance pay.
Why Did Offbrand’s Event Branch Shutdown?
In the announcement, the studio stated that they failed to make the events business sustainable and that it was a difficult decision to shut down the business. However, the brand assured that Offbrand Games would not shut down. The statement also said that Ludwig will continue to create and host events through his personal brand Mogul Moves.
— offbrand (@offbrand_studio) December 14, 2024
Ludwig uploaded a video regarding the situation on his Mogul Mail channel titled “sad news.”, in which the streamer discussed the situation in detail. Ahgren stated that Jerma, the chief strategy officer of the company had stepped back from his duties over 6 months ago. The streamer also stated that it was not due to his YouTube contract ending as many netizens were speculating. Ahgren explained that the infrequent scheduling of events made it difficult to sustain full-time employees at Offbrand.
Lud streamed later that day on Twitch and discussed more about the situation. The streamer made several statements about the accounting side of the company. Ludwig stated:
“And so, when I found this out, I was like, ‘Oh, damn! The books here were a bit cooked!’ The books were cooked. Yes, sir! The books were cooked. Yeah, I scammed myself. And then, when me and the team did some digging, we were like, ‘This hole is too deep, and if we keep digging in this hole, not only is Offbrand f**ked, Mogul Moves is f**ked, everyone loses their job.'”
Ahgren also discussed how bad the accounting was and how much money was involved. He gave an idea of how much the business was going under and that they had to take steps to ensure there wasn’t much damage.
“Just for some, like, relative idea of how bad it is… it’s to the tune of about $3 mill. That’s the amount of money. Yeah. That’s a lot of money. That’s a lot of money! And so, at that point, it’s like, ‘You have to act now or this situation gets a whole lot f**king worse!’ Which is why this might feel quite sudden.”
Over the last six months I've been lucky enough to meet and work with some of the astounding people here at offbrand. Those in the production team are some of the most incredibly talented and creative people I have met throughout my career.
— Pirate Software (@PirateSoftware) December 15, 2024
For those that are leaving us I hope… https://t.co/HJ4rRKY64w
The netizens expressed their disappointment with the situation and had concerns for the laid-off employees. However, Offbrand Games is still operational and PirateSoftware made statements regarding his involvement in the company.
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