Following the death of the World Series of Video Games the guys at GameDaily BIZ spoke with Matt Ringel, president of Games Media Properties, and asked what went wrong. Ringel says there are a number of organizers competing for advertising dollars and the ad agencies are still trying to work our the merits of the different competitions. He says that Games Media Properties is making money off its websites (like GameRiot.com) and is going to focus solely on where they can make business work now.

Boiling it down: Too much work, too little profit. Perfectly understandable given the complicated nature of dealing with television, setting up competitions and the absolute hell of trying to get sponsorship with a new concept. It's so much easier to just have your little corner of the internet and work there. We like it, although we do dream of one day hosting the Joystiq International Gaming Competition and having it simul-cast on all the networks while we roll in our disgusting mountain of cash -- one day it may come true, one day.