Esports in the Olympics is ‘Inevitable,’ Says Logitech CEO
Bracken Darrell, CEO of gaming hardware giant Logitech International, says it is “inevitable” that esports will eventually be included in the Olympic Games. Darrell revealed his opinion during an interview with Mad Money’s Jim Cramer on Tuesday.
According to Darrell, esports is poised to become the biggest sport in the world. This is an opinion he formed after attending the recent esports forum held by the International Olympic Committee two weeks ago.
Darrell didn’t have to travel far to attend – Logitech is headquartered in Lausanne Switzerland, the same town that hosts Olympic Committee. He reports that the industry is driving sales of Logitech products. As of their July first-quarter earnings report, Logitech was up 60 percent in its gaming and video collaboration business.
Logitech’s branding is everywhere in esports, and not just because many players and teams choose to use their keyboards and other equipment. The company sponsors several events throughout the year and partners with multiple organizations.
One of their most prominent sponsorships is of the University of California, Irvine’s esports program. Logitech contributes high-end gear to the school’s esports facility. UCI was among the first universities awarding scholarships to gamers.
The popularity of video game streaming, in particular, has been incredibly profitable for Logitech. The company’s HD webcams offer quality at that pricing sweet spot, leading to double-digit gains for Logitech.
Darrell compared the future outlook for esports to the growth of the NFL and the Super Bowl since 1965, saying it seemed big at the time but looking back it was so small compared to what it has become.