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Esports market anticipated to exceed $1 billion in 2019

On Behalf of | Mar 20, 2019 | Business Law

While it is common to follow reports of multimillion-dollar contracts in football and basketball, those are not the only sports making headlines. Electronic sports, or esports, competitions have been growing consistently during the last decade.

As technology evolved, live streaming took multiplayer video games to new heights. And as online video games gained international interest for players and fans alike, both developers and sponsors took interest.

If you are not a gamer, you may be unfamiliar with the relatively new world of video game competitions. However, before judging the guy allegedly playing video games in his mom’s basement, you might consider the billions of dollars available in prize money through esports.

Millions involved in multiplayer games

Through live tournaments and online streaming, millions of gamers are competing to gain brand endorsements and earnings.

Many players develop followers through playing games such as:

  • Call of Duty
  • League of Legends
  • Fortnite
  • Madden NFL
  • Counter-Strike

Meanwhile, more than 80 million people tuned in to the 2017 World Championship, which had a prize pool of nearly $5 million.

How much money is at stake this year?

Worldwide, an excess of $1 billion in the esports market is expected this year. Naturally, this is of interest to those who participate in the gaming industry. However, this is also a big deal for companies looking for ways to get their brands in front of a younger audience.

The numbers seem to be proof of a paradigm shift involving video games and those who play them. For some, playing games might provide a temporary means of escape. But for others capable of reaching advanced levels and developing fans in the process, gaming can provide a profitable source of income. If you have never participated, maybe this is the year you should start.

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