The esports industry is seeing significant growth in viewership and prize pools. The global esports audience is expected to reach 474 million in 2021, an increase of 11.7% from 2020, with the industry generating $1.08 billion in revenue, up 14.5% from last year, according to a report by Newzoo. Prize pools have also increased dramatically, with Dota 2’s annual tournament, The International, offering a record-breaking $40 million in 2020. Investors have taken note, with major companies such as Coca-Cola, BMW and Intel sponsoring and investing in esports events, and sports teams such as the Philadelphia 76ers, Golden State Warriors and Dallas Cowboys investing in esports teams and events.
Esports Industry Sees Significant Growth in Viewership and Prize Pools
Introduction
The esports industry has been growing exponentially in recent years, with significant increases in viewership and prize pools. This growth has led to esports being recognized as a legitimate form of competition, with esports events drawing huge crowds and generating millions of dollars in revenue.
Viewership Growth
According to a report by Newzoo, the global esports audience is expected to reach 474 million in 2021, an increase of 11.7% from 2020. In addition, the report estimates that the esports industry will generate $1.08 billion in revenue in 2021, an increase of 14.5% from 2020. This growth has been driven by a number of factors including increased accessibility, the rise of mobile gaming, and the prevalence of streaming services such as Twitch and YouTube.
Prize Pool Growth
One of the most notable aspects of the esports industry’s growth is the massive increase in prize pools. In 2020, the prize pool for Dota 2’s annual tournament, The International, reached a record-breaking $40 million, with the winning team taking home over $15 million. Similarly, the 2019 Fortnite World Cup had a prize pool of $30 million, with the winner taking home $3 million.
Industry Investment
The growth of the esports industry has also caught the attention of investors, with major companies such as Coca-Cola, BMW, and Intel sponsoring and investing in esports events. In addition, traditional sports teams such as the Philadelphia 76ers, Golden State Warriors, and Dallas Cowboys have all invested in esports teams and events, further legitimizing esports as a form of competition.
Conclusion
The esports industry has come a long way since its inception, and its recent growth has been nothing short of phenomenal. With increases in viewership, prize pools, and investment, esports is well on its way to becoming a mainstream form of entertainment and competition. As the industry continues to evolve, it will be interesting to see what new heights esports can reach.