NIP Group Inc., a digital entertainment company, released its unaudited financial results for the second half of 2024. The company reported total net revenues of $45.9 million, marking a 1.8% increase from $45.1 million in the same period of 2023. A significant driver of this growth was the event production segment, which saw a 92.6% year-over-year increase in net revenues, reaching $14.6 million. Despite this increase in revenues, NIP Group posted a net loss of $12.7 million for the second half of 2024, an improvement from the $13.3 million loss in the comparable period of 2023. The company's adjusted EBITDA was reported at negative $9.9 million, reflecting an adjusted EBITDA margin of negative 11.6%. NIP Group faced challenges in esports sponsorships and advertising, impacting both their top line and margins. However, their Talent Management segment remained stable, and they are pursuing strategic growth initiatives, including entry into the game publishing space and strategic funding partnerships. These efforts are aimed at creating a more diverse revenue mix and integrated operations to enhance long-term shareholder value.