What was once a little known online activity for a few enthusiasts of multiplayer online games is now a multi-million dollar industry which is predicted by experts in-the-know to grow a whopping 25% this year reaching over $178 million USD. This revenue boom is expected to continue at least into 2020 where it could surpass 200 million USD.
Those that stand to benefit from this growth include:
- game developers,
- live venues,
- streaming platforms,
- TV networks,
The revenue from eSports mainly comes from:
- media rights deals,
- ticket sales,
Much of the eSports growth is due to the increasing audiences which is expected to grow 18% this year to about 30 million. According to some, the viewership will reach 50 million by year 2023. And it’s getting easier and easier to join the global audience as the livestreaming of the multiplayer games can be seen on sites like Twitch and YouTube. Plus, there are live venues that show the games on a large screen such as Madison Square Garden in NYC and Key Arena in Seattle.
In case you’re wondering, this trend is not just in the U.S., it’s very much alive in Europe and Asia, especially in S. Korea and China. All this is quite remarkable considering that only a few years ago, advertisers wouldn’t even consider reaching out to kids playing online games against each other.