Esports has seen rapid growth in the past few years. There have always been gaming enthusiasts carrying the banner of this industry. However, recently, fame has boosted all the charts and is set to create a revolution as a potential market. With time, Esports has gained viewership, revenues, brands, investments, and whatnot.
BLESSINGS OF COVID-19
When Covid19 first came into the scene, the world experienced something it had never seen before. With the closure of all the activities, stadiums and sports arenas also suffered a lockdown. And as they say, “with every setback, there is an opportunity”. Esports saw a new boost in its popularity. Online games stepped into influencer marketing, hiring different social media influencers to promote their stimulations. Moreover, the culture of live-streaming through popular platforms like YouTube and Twitch grew. The audience, who had nothing else to do during the lockdown, found a new hobby. By that time, Esports was a growing market as it had already seen a 12.3% increase in viewership between 2018 and 2019. To emphasize, the Covid-19 boost just took it to another level, increasing over 200 million in the combined Esports audience.
The increased viewership has been a source of attraction for investors and venture capitalists towards this potential market. Many brands have come forward in advertising the industry, and the revenues have sky-rocketed. The people have finally realized that they can earn dollars by just sitting at home playing games. This realization has taken the combined revenue of the esports market to a staggering $1.08 billion! It is predicted that the market will continue to boost and reach 1.62 billion dollars by 2024.
More and more people realize the worth of this industry and chipping into the esports ecosystem. According to reports, Asia-Pacific, North America and Europe are the top three eSports markers regarding viewership and revenues. The Asia Pacific has over 57% viewers, while North America generates the most revenue for the market. Mobile gaming has made eSports accessible to all easily, and it is expected to make up a huge chunk of the market itself.
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