It’s one of the biggest rising industries in the gaming world and esports is set to grow exponentially over the next few years thanks to an ever-growing market, lucrative investment deals, sponsorships, and some exciting future trends. In the third edition of market intelligence group Newzoo’s annual report, published earlier this year, there was plenty to be excited about for the esport industry, at least that is according to the numbers.
The report itself included information about local esports initiatives which have been paramount to the overall growth of the market. This coupled with so many other developments in the esport realm such as a rise in both the number of players, on amateur and professional levels, and of course the audience numbers has also made a significant impact in the market.
The next 12 months will reportedly see the industry grow to a staggering worth of more than $690 million, making it an impressive year-on-year growth of 41.3%. Brands and other companies related to the market are predicted to part with their hard cash in the coming months, spending a whopping $517 million. This huge spend accounts for $266 million in various sponsorship deals, for professional esport teams, players, event deals and other such things whilst a further $155 million will be spent on esport advertising. The remaining money, just under $100 million, will go towards the media rights spent in order to broadcast the various worldwide events and competitions.
Whilst nearly $700 million in brand investment will already be pumping its way into the industry within the next year it’s already predicted than in just 3 short years this huge figure will more than double by the year 2020. This will help up the market to a value of $1.5 billion and it doesn’t look like it’ll be slowing down any time soon.
Investment will continue to grow as more and more brands and publishers begin to see just how lucrative and worthwhile it can be to get involved in this exciting market. Various partnerships, deals and other game publisher investment is set to hit $116 million this year whilst the sale of tickets and other industry-related merchandise will top at around $64 million mark.
The competitive gaming market has already seen a huge peak in interest in many of its gaming creations which have much to do with their involvement in the esporting realm and it’s these franchises that appear to be doing extremely well thanks to their games becoming popular as spectator sports. Of course it’s not just a simple case of creating the game and thinking it’ll grow because of the huge slice of the market that esports has, there’s a lot of work involved in setting up leagues and organising events related to your game which takes work and investment and whilst at the moment it may not seem the most profitable way in which to drive revenue it’s certainly a great investment for the future as esports continues to thrive financially.
Rising revenues have already been reported by the AustralianCasinoClub and other popular casino brands around the world all because they’re able to reach more and more players worldwide due to many technological advances. And we’ve already seen the casino industry evolve its games and services for the online market. It’s helped create hordes of professional players and become a massive spectator sport which is even now seeing more live broadcasts of big sponsored events on a global scale. This is exactly how esports is developing and it surely won’t be long before professional payers and participants will literally become sporting household names.