Chinese giant Tencent to expand investment in eSportsPosted on: Mar 05, 2019 By smartlaunch in News and trends,
Chinese tech giant Tencent will expand its investment in eSports, and has plans to cooperate with local authorities on organizing and expanding tournaments for hugely popular games like League of Legends and Honor of Kings. Tencent has played a major role in the growth of eSports in China, developing games like Honor of Kings, which made a revenue of USD 1,3 billion in 2018.
Honor of Kings has its own eSports league, established by Tencent, with some games attracting tens of millions of views online. League of Legends has long been a staple of the eSports sector, and a high profile USD 7,5 million sponsorship deal signed last week between Nike and the LoL Pro League shows just how big it is both in terms of size and financial pulling power.
Chinese authorities have invested heavily into infrastructures such as stadiums, training facilities and even an entire eSports town in Hangzhou. After a slowdown in approvals for new video game releases in 2018, regulators have resumed handing out new licenses since the start of this year, with Tencent awaiting approval for PlayerUnknown: Battlegrounds (PUBG), a game it acquired the rights to in November 2017.
PUBG has been a global smash hit, with an estimated 400 million players as of last year. The battle royale-style game has huge potential in eSports, monetization and tournaments in China, where it is still awaiting official approval.
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