It might seem very different from traditional sports, however, esports is the new generation of sports and a very big, but still growing, part of the entertainment industry. In this guide, you can find fundamental information aboutesports in general and the esports ecosystem.
What is Esports?
Esports is the general name given to the environment in which professional tournaments are organized within a video game. Each game can have its own esports scene if it has a competitive game mode. Casual gamers thatexcel in performance can switch to competitive gaming and compete under teams in big tournaments. Like everysport, esports has its own rules which can differ from game to game. However, players and teams have to act withina certain code of esports. Contrary to popular belief, esports is much older, dating back to the early 70s. Since then, it has been on consistent growth and evolution. As computer technologies and network connection technologies improve, esports also gets bigger and better. Esports has also drastically affected the video game industry, as most developers shifted their works to create competitive games. Some countries have started recognizing esports as an official sport and also started giving out licenses to professional esports players. It should also bementioned that almost every game genre has an esports game of its own.
Who plays Esports?
As mentioned before, much like traditional sports that have their own athletes, esports has its own athletes. These professional esports players are ones that have proven themselves over other people that play that specific game. By showing exceptional performance in a game, they rise to the professional level and compete against other players of the same skill level in a wide esports ecosystem. However, the esports ecosystem is not only made up of esports players but also includes coaches, analysts, strategists, managers, and much more. As it is an entertainment business, production companies are involved and the number of people working in the ecosystem increases significantly.
Esports Industry Market Growth
The first question about the esports industry is whether it generates any revenue or whether it has money in it or not. Much like every other traditional sport out there, the esports industry also has a big market share in the entertainment business. Big companies and even individual celebrities have entered the esports scene with teams or organizationsto get a share of this big and growing ecosystem. According to projections, the esports market will surpass 1 billion dollars in revenue in 2022. The source of this income is from media rights, in-game purchases,sponsorships, and advertisements. Many big companies invest in esports, or even just place advertisements in the broadcast of big tournaments to attract new customers because there are far more people watching esports tournaments than most TV channels.
Esports Industry Audience Growth
The audience is one of the biggest parts of the entertainment business. As esports is essentially an ecosystem of competitive gaming and entertainment, the audience has a huge role in it. As of 2021, there are more than 26 active internet users that watch professional esports tournaments at least once a month. It is presumed that this number will go up to 29 million in 2022, and over 31 million in 2023. As new competitive games surface, more people can find a game that they can enjoy following and the esports audience gets gradually bigger. Streaming platforms establishedat the beginning of the 2010s also helped grow the esports audience significantly. Nowadays, there are many different streaming platforms that have the rights to the broadcasting of big esports events which garner a huge audience.
Future of Esports
The future of esports has countless possibilities, but the most probable ones seem to be the migration to mobile devices and the emergence of the metaverse. Huge video game companies like Tencent Games highly prioritize mobile gaming and urge esports players and esports audiences to switch to mobile esports by rewarding them. Sometimes, even higher prize pools than regular tournaments are offered in mobile esports tournaments. Another significant development in esports is the emergence of the metaverse. With metaverse and blockchain technology, the esports ecosystem can take a whole different shape and evolve into something much bigger than it already is occupying a big portion of our daily lives. It could take the competitive nature of esports to a whole different level. The fact that esports is much closer to this technological advancement than other traditional sports strengthens the fact that esports is going to grow much more in the years to come.
