eSports Set to Become Billion Dollar Industry

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by @todotvnews the 14/09/2018
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According to a report from The Diffusion Group (TDG), the sector will continue its sustained growth going from generated revenues of US$905 million last year to a projected US$1.6 billion by 2022 

Slowly but surely, eSports have showing sustained growth across the years. In fact, the sector reached a global audience of 557 million people on 2017 and generated revenue of US$905 million, according to a report from The Diffusion Group (TDG).

And the projections from the report indicate that the numbers will continue only continue to grow, reaching US$1.6 billion by 2022.

"As entertainment executives readily admit, it is becoming increasingly difficult to identify and build an audience of loyal, engaged consumers with highly desirable demographics," noted Patrick Perez, author of the TDG report. "That's one of the reasons there is so much excitement around eSports."

The sector comprises competitive, professional video-gaming tournaments staged before an audience, online or in person, and in recent times has been focused on growing assets, land grabs and creating a sustainable business model.

All this, the report claims, has helped them capture the attention of companies throughout the interactive entertainment and gaming space. And combined with the oncoming 5G rollout, faster computers, new business models and revenue streams, new measurement tools, and most importantly, mainstream acceptance, from fans as well as advertisers and sponsors, "eSports is now ripe for solid growth during the next decade".

"We are seeing huge rights deals completed and, in one case, a platform acquisition worth nearly a billion dollars," Perez added. "Welcome to eSports 2.0".

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