The e-sports business has witnessed remarkable growth in terms of viewership and profitability over the years. The rise in viewership majorly contributes to the increase in revenue — and it’s not only because those viewers generate profits. Brands continue their investments in electronic sports (e-sports) marketing as they see the opportunity of reaching an extensive and engaged audience. This has contributed to the rapid financial development of the e-sports industry, which has only been hampered by Covid’s restrictions on major public e-sports events.
Growth of Esports Industry
E-sports are a growing global market of online sports in which two or more contestants compete in a multiplayer environment using online video games. It has transformed online gaming into a competitive sport. The rise in popularity of video games and surge in awareness about e-sports are the major driving factors of the global e-sports industry. In addition, increase in the number of events and competitions with large prize pools and long-term investment options offer lucrative opportunities in the coming years. According to Allied Market Research, the global e-sports market is anticipated to grow at a significant CAGR of 17.5% from 2021 to 2030. Here are some latest trends of the e-sports industry:
- As organizations continue to diversify streams of revenue, blockchain will become even more prominent in e-sports. Sponsorship is a big part of the e-sports sector, accounting for around 60% of e-sports earnings last year. To attain these goals, many customers are turning to blockchain technology and NFTs.
- As the biggest mobile companies compete for supremacy, mobile e-sports will continue to grow in the coming years. Following years of dominance by console and PC games, mobile e-sports has grabbed the business to the next level. Mobile has attracted millions of e-sports fans around the world due to its low entry barriers. The more individuals who watch and play, the more organizations will invest, and mobile e-sports will grow stronger.
- E-sports and traditional sports will continue to blur the boundaries. Traditional sports have influenced e-sports a lot, and now the two friendly marketplaces are starting to unify. Organizers are adopting various strategies to reach new audiences by collaborating with content creators and organizations in non-gaming domains. E-sports companies are now even branching out into traditional sports. E-sports team EVOs, which recently unveiled a real-world basketball squad, is a great example of this.
- Co-streaming will become a standard marketing strategy for brands. Allowing co-streaming and democratizing e-sports broadcasts have grown enormously popular. It’s a tested method for publishers and organizers to increase their total targeted audience significantly.
Latest Partnerships of the E-sports Industry
Platforms for live-streaming will become even more engaging. More gaming platforms and publishers are expected to announce live-streaming-first strategies using creator-viewer engagement in the coming years. These types of experiences will assist the organizers in making the broadcasts even more entertaining and memorable and provide new ways to monetize fans directly.
Global investors, corporations, media outlets, and consumers are all paying attention to the surge in popularity of e-sports as competitive video games continue to blend into mainstream culture. Following the growing trends, market players are adopting strategic partnerships to improve their market reach and offer the best to their consumers. BLAST Premier, an e-sports tournament organizer, has announced collaboration with A.P. Moller – Maersk.
The partnership aims to bring fans closer to e-sports using MVP activation, integrated digital ads, and broadcast segments. The Call of Duty League (CDL) has teamed up with Aim Lab, a performance and coaching platform for FPS. The platform will be the league’s first-person training sponsor and the Call of Duty Challengers Scouting Series’ presenting sponsor as well.