NEW STUDY PREDICTS E-SPORTS REVENUES WILL GROW 41.3 PERCENT THIS YEAR
Newzoo research predicts revenues will reach $696 million in 2017.
The independent research firm Newzoo has released its latest research on eSports, predicting that industry revenues are set to grow 41.3 percent and will reach $696 million in 2017.
Over half those revenues will come from China and North America, the company claims, noting however that global growth has also been good, and that eSports fans will number 385 million this year, and 589 million by 2020.
The report looks at all aspects influencing the future of the vertical and concludes that impressive progress has been made since its last study in 2015, when revenues reached $325 million, Indications are that the impressive rise of eSports will continue, with revenue reached $1.5 billion annually by 2020.
Peter Warman, Newzoo's chief executive, said in a statement accompanying the report this week that eSports is not only growing exponentially as a new independent business and industry, but is also accelerating the convergence of various established industries.
"For brands, media, and entertainment companies, eSports provides a chance to capitalize on the favorite pastime of digital natives and Millennials: playing games and watching game content. With the arrival of live streams and events, gaming has entered the realm of broadcasters and media that can now apply their advertising business model to a market previously out of reach for them,” he said.