If by now you haven’t heard about the global phenomenon that is Esports, then please, please get with the program. Esports is one of the biggest blooming video gaming industries where playing video games is now considered a competitive activity, with athletes, fan bases, and above all, enormous lines of revenue earnings. This new trend in the sporting world had become so popular that now Esports betting alternatives are offered for sports wagering fans. Before, this was only a trend for sports like football, basketball, and horse racing, amongst others.
Unlike some people who might still believe, you can actually make a living and a very good one out of playing video games professionally. This industry is real, it’s on a constant growth globally, and there aren’t any real signs of it slowing down in the foreseeable future. So with this said, what can we expect from the Esports Industry in the next five years?
The Esports Popularity Trend Will Only Continue To Grow
While before, the idea of watching a major sporting event, be it by yourself or by getting together with some friends and making a whole party out of it, was left to football, basketball, soccer, and baseball games, to name a few examples, nowadays, watching Esports tournaments is just as popular. The first major sign of Esports becoming the new “it” thing in the sporting industry came in 2016. It was estimated that over 12 million more people watched the 2016 World League of Legends finals (43 million viewers) than the 7th game of the NBA Finals (31 million viewers). After that, the popularity of not just playing Esports games but participating in events, viewing, and giving more and more exposure to the industry has just continued to grow more and more as time goes by.
It is estimated that by the year 2024, the Esports industry will have close to 500 million viewers and fans all around the world, putting it above some of the most important sporting leagues and events in the world. Not just that, what’s most surprising is that out of those almost 500 million viewers, a bit over 50% are estimated to be occasional viewers, not necessarily enthusiasts of the industry, meaning that the trend of the industry pulling in more and more fans will only continue to grow as well. With the sports industry at times having a hard time trying to try and connect with newer fan bases, the Esports industry appears to be thriving and will continue to do so moving forward.
Not Only Will The Fan base Grow Substantially, The Revenue Too
The main field in which the Esports industry is expected to continue a steady and very positive upscale in growth is in the one that matters most, the revenue one. It is expected that by the end of 2021, the Esports industry will have amassed more than $1 billion in revenue with additional and substantial growth in media rights and livestreaming markets. That is at least a 14% growth increase from their numbers in 2020, with at least 75% of their total earnings coming from their media rights and above all their sponsorship deals, thanks mostly in part to the boom of live streaming platforms as the main tools.
It is expected that five years from now, the industry will continue its growth in the 10 to 15% incline, with estimates reaching the $1,625 billion mark by early 2025.
Esports Athletes Will Continue To Transition To Celebrity Streamer Status
Being an Esports athlete is something that many people have mistaken. While for many being an Esports athlete is just another way of saying that someone plays video games all day and lives their best life; there’s much more to it than just that. Intense training, diet, and exercise regimes are all part of the job, just like any other pro athlete. Unlike pro athletes in other sports, professional Esports athletes have found that live streaming their daily activities like their training sessions is a great way to become more noticeable.
With streaming platforms like Twitch, pro-Esports athletes have become a new kind of celebrity in the sporting world. This not only helps them have more global recognition and spotlight, but it also helps them rake in revenue streams that athletes in other disciplines could only wish to have. As time goes by, it is expected that more and more of the top Esports athletes will transition to becoming full-time video game streamers. Given the popularity they amass with their streams, it’s not hard to understand how they are on the way to becoming the new kind of celebrities.