eSports industry to break $1 billion next year
The prevalence of eSports operations continues to rise
eSports made its debut years ago, but it wasn’t until recently that it really started to attract a following. It has become so much a part of everyday life that high schools and universities now offer eSports training programs and there’s talk that it could even make it into the Olympics. In just a few short years, it has become an industry worth over $900 million and is now expected to crack the $1-billion mark before the end of next year.
According to Adam Cox of Futuresource Consulting, “Esports has been around for a while, but is now really starting to enter the mainstream. It’s riding a rising wave of consumer awareness, as celebrities and traditional sports teams get involved, household brand names take a piece of the sponsorship pie, and the likes of Turner, BBC and Sky invest in content acquisition and production.”
He adds, “Key events such as Dota 2 are now enjoying viewing figures comparable to major conventional sporting events. As a result, securing exclusivity of major esports tournaments will become increasingly strategically important for both traditional sports broadcasters and established esports platforms such as Amazon-owned Twitch.”
The gaming activity has become so popular, in part, because it is a uniquely global industry. It isn’t limited to only certain countries and teams aren’t restricted by boundaries, all playing the same game by the same rules.
Cox further states, “With rumours in the IOC suggesting that esports could be an official Olympic sport as early as 2024, the social acceptance and resulting industry returns are very much heading in the right direction. It’s a great time to be involved in esports, with plenty of opportunities making themselves known across a range of tech and creative industries.”