Newzoo Predicts Esports Will Have its Own Olympics, Outgross Traditional Sports
Newzoo’s latest report on the esports industry includes several interesting predictions for the future. The prolific research firm believes the video game industry will soon outgross traditional sports; which is interesting but not a new idea. What is new: Newzoo’s prediction that the esports will have its own Olympics.
While a slew of esports organizations and in industry leaders are gunning for esports inclusion as an official Olympic sport, Newzoo is envisioning an entirely different path to Olympic medals for video games. They predict an entirely new Olympics will be created for the mutual benefit of both the Olympics and esports.
The International Olympic Committee is struggling to keep the games relevant to the youth of the world. Esports offers the IOC an opportunity to connect millions of young gamers, but the problem lies in the difficulty of fitting esports into the Olympic mold.
According to Newzoo, as the IOC continue to engage with esports the designation of an Olympic-backed competition series will emerge.
Newzoo also predicts the global gaming industry will surpass $180 billion by 2021 – a bold statement considering that is higher than the professional sports industry. Along the way, says Newzoo, the commonality of the leading game titles will cause the term “esports” to fade out of use, making it redundant to introduce a tournament by both the title of the game and the word “esports.”
Newzoo’s newest vision of the future includes heavy investments from media companies. They expect all major media brands to bet big on esports over the next three years, purchasing the rights to broadcast esports.