Esports industry revenue is expected to reach $1.3 billion in 2022!
Recently, Game Data Company Newzoo released “Market Report” Esports and Livestream globally in 2022” and revealed many unexpected parameters. Specifically, the estimated future industry revenue will reach $1.38 billion through potential funding sources of relationship partners. In addition, the content creation and co-streaming segment also plays an important role in the growth and success of organizations. Esports globally.
When it comes to revenue, it can be said that funding is still the “king” at the moment. For the Esports industry, Newzoo has estimated that transactions with brands and relationships will account for nearly 60% of total earnings ($837.3 million) by the end of 2022. However, as Esports brands have becoming a “major” for lifestyle, Livestream content, co-streaming, consumable products and loyal user files promise to become more contributing factors to the huge financial resources of the industry. this area.
In the field of Livestream alone, the audience following will reach more than 810 million people by 2021 on Twitch and YouTube Gaming – the leading Live platforms in the West. This number has not shown signs of stopping and is increasing to 13.8% in 2022 and promises to surpass 1 billion viewers by 2023. In its report, Newzoo that number will grow to 1.41 billion by 2025, at a CAGR of +16.3%.
Adding perspective to these predictions, Newzoo Analyst Hugo Tristao expressed: “Growth in Latin America, the Middle East and North Africa, and Southeast Asia markets will sustain high growth rates through 2025, driven by the growing popularity of mobile games on the platform. live streaming platform.”
“The lingering effects of the COVID-19 pandemic in 2021 have caused our audience to grow beyond our initial projections,” said Tristao.
Meanwhile, China can be considered as the largest market of Esports with an expected compound annual growth rate of 7.6%. However, this country banned Western Livestream platforms and focused on developing domestic platforms such as Huya, Panda TV and Doyou TV… Therefore, in order to reach the public, brands and Western companies have to work indirectly through 3rd parties to be able to secure their source of revenue.
In addition, the trend of making money directly from players is also growing strongly at the present time. Through the form of trading and exchanging physical items such as T-shirts, technology items … or digital such as NFT, Skin … that the Esports industry is gradually creating more important revenue sources. It can be said that this is another result of the fact that Esports is becoming the new lifestyle brand of gamers globally.
Also follow Newzoo statistical, Esprost’s annual revenue accounts for a large part of the player base. The report estimates that there are around 261.2 million “loyal” fans – those who watch the e-sports event at least once a month at the moment.
According to data recorded from “Consumer Insights Games and Esports 2021″. with Germany it starts at €70,000. In Korea it’s 60,000,000 VND. In Vietnam it’s 15,000,000 VND a month And in Saudi Arabia it’s 400,001 SAR a year…. That is, 74% of fans have full-time jobs.
This target group is mainly men and young people (the largest segment is men: 31%, between the ages of 21 and 35; the second largest group is 10-20 with 18%) and women Women are also paying more attention to e-sports. Thirty-four percent of “loyal” fans are women and 24% are between the ages of 21-65 (most concentrated in the 21-35 demographic).
And of course, there are still some hurdles that Esports will most likely face in the future. For example, the ongoing war with Russia and Ukraine!
The impact of this conflict could hurt revenue, especially if it spills over into other parts of Europe. “If you look at the teams and Esports, Russia and Ukraine are important markets with lots of tournament organizers, teams and sponsors! If we’re talking about the global scale, I think it’s less likely to have an impact, but in terms of Europe, that’s something we’re looking at very closely!”
“Also, since Europe is one of the most mature markets, it will be hit hard if it spills over into other markets.”
“Overall, what Newzoo seen in esports in general is trying to figure out the best way to deal with a negative situation Still, it’s still very difficult to predict what might happen if the conflict continues and escalates. .” – Hugo Tristao.
Source: The Esports Observer
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