Esports to be worth over USD 1 billion by 2020Posted on: Dec 12, 2018 By smartlaunch in News and trends,
The esports industry is expected to surpass the USD 1 billion mark by 2020, as global brands look to take advantage of the popularity of esports via esports betting markets, advertising and sponsorship.
The primary esports viewing platform – Twitch – has become one of the most regularly watched streaming platforms in the world. The Amazon-owned gaming platform and social network is accessed by tens of millions of people per day, and this number is only increasing.
More people watch gaming streams every month than watch news channels. The current esports audience total is at over 200 million whilst by 2020, the number is expected to exceed 300 million.
Esports are now one of the most popular pastimes on the planet, male millennials especially populate around 80% of esports audiences. This has opened up a huge market for brands looking to advertise directly to millennials.
Esports revenue is made up of several different streams, the largest being sponsorship and the second largest being advertising. Over 70% of the esports economy is generated via sponsorships and advertising.
The world is constantly evolving and sport is evolving alongside it. Esports have forced their way into the hearts of primarily young people who have grown up during the digital age. As technology evolves, competitive video gaming will evolve with it and it is hard to imagine esports not getting bigger and bigger in the upcoming years.
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