Tint your windows: The future of esports is brighter than ever. According to Newzoo, the esports industry saw its first $1 billion year in 2019.
The report estimates the esports market will reach $1.8 billion by 2022 on its current trajectory, while a more optimistic scenario places broad esports revenues at $3.2 billion. Such massive economic prosperity is fueled by factors like rising employment rates in the sector and of course by great games being made more accessible to people, with some developers flourishing in the economic gaming boom and delivering even more additional content than ever before. Professional competitive gaming’s popularity has proliferated worldwide to global audiences, being endorsed by celebrities and even making celebrities of professional esports competitors. A dangerous thrill and kinetic energy is felt by millions sharing in a new, thriving experience.
A key factor in growth noted by Newzoo analysts is that the future of esports will see younger people more and more watching esports and playing video games. That means that, every year, more young people are aging into the market, and a larger percentage of them are watching esports and contributing in unique ways.
A 2018 Hitmarker report indicated a rising trend is occurring in the esports employment sector, with their listing of nearly 6,000 esports jobs from over 45 countries at that time.
The esports market is surely set for exponential growth in the next decade. As we approach 2030 the market continues to innovate and attract substantial investment. While many brands have already entered or are currently planning their entrance, other brands have yet to make the first venture. Both digital broadcasters and TV media companies have already started to compete for quality space in esports content. Sponsorships aside, other ongoing developments that have high revenue potential include increased esports franchising, new content formats, and even premium passes. The success of mobile gaming, team profitability, and the success of a new focus on gamers as professionals and streamers as brands has made esports one of the most anticipated industries in the coming decade.
It’s exciting to continue seeing huge opportunities for the world of esports to grow as it gathers gamers and corporate interests alike to intersect, connect, and compete. Going forward, we expect to keep seeing big moves in the international gaming community as more investors hop on board.
How do you guys feel about the future of esports economics? Let us know in the comments!
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