So many of you out there might be wondering what exactly is Esports or how is it even a sport? The simplest answer is; it is a term used for competitive gaming. Competitive gaming has hit new heights in the past decade. At the moment, there are more than 400 million fans of the ever-growing industry, and this figure is all set to double in the year 2021.
Apart from that, there are more than 200 million competitive gamers at the moment, and still counting. Modern technology has also played its part in the growing esports industry immensely. As a matter of fact, many broadcasting platforms such as Youtube and Twitch are making things a lot easier for fans to watch their favorite gamers and esports teams.
Some Highly Encouraging Stats About Esports
There may be an intense debate whether you should consider esports as a proper sport or not. Yes, you can say that it is not the fastest growing form of sports around the globe. However, there is already a massive change in figures as 2018 saw 28% industry growth as compared to 2017. In 2017, the total net worth of esports teams and co-operations was $655 million but later, this value crossed $900 million due to brand investment.
Newzoo expected esports to cross the $1 billion-dollar figure in 2019, and the expected figure was $1.1 billion. In fact, this figure was expected to hit $1.65 billion by 2021.
Esports becoming a billion-dollar industry in a few years is something brilliant. But the question is, how did these figures increase significantly? Yes, Twitch and Youtube were already playing their parts in the industry’s growth. However, it was actually due to the massive sponsorships and investments from some of the biggest corporations around the globe. Toyota, T-mobile, and other similar industries ‘ “big boys” have been injecting more and more money into the esports industry and playing a significant role in the industry’s growth.
Apart from that, there are other revenue-generating sources for the industry, such as tournaments, prize pools, betting (check these CSGO betting websites) and ticket sales. North America and Asia are the biggest esports markets in terms of revenues. Asia was the biggest revenue generator in 2016, generating $328 million. North America grabbed the second spot with a revenue of $275 million, and Europe stood third with $270 million.
Youth is the most prominent ingredient in the esports industry in terms of fans and professional gamers. However, tech and media giants are also entering the market while game developers have been in the act as well. To cut it short, all of this has been writing a perfect growth script for the industry.
The Future Of The Esports Industry
With the industry hitting the billion-dollar mark and an ever-growing fan base, the Esports industry has an auspicious future. The sport’s popularity has been on the rise, and 20,000-seater esports arenas are becoming the new norm. It is safe to say that every person is a gamer at heart and whether you watch or play, you are making a valuable contribution to the industry’s growth. In a nutshell, Esports is the next big thing for sure.