Esports: The new age-marketing channel
Esports exploded onto the gaming scene. In the U.S. alone, video game sales saw double-digit growth from 2016 to 2021, reaching $48.6 billion last year, according to Euromonitor International. And there’s no sign of slowing. The market research firm expects sales to continue at pace with an estimated 51.5% growth over the next five years.
Online video gaming also has been steadily rising in popularity. According to Euromonitor International’s Voice of the Consumer: Lifestyles Survey, 29% of global consumers took part in online video gaming in 2015, which rose to 37% in 2022.
These tournaments—where teams or individuals compete in various video game genres—quickly spread around the world. Most championships were in-person pre-pandemic; however, in 2020, global online viewership rose to 220.5 million with 215.3 million being dedicated fans or consistent watchers, according to esports.net. The momentum continues in 2022 with monthly esports viewership rising an estimated 29.6 million.
Top gamers like Tyler “Ninja” Blevins generate more than $1 million solely from fans who tune in to watch them play via the streaming service Twitch. That’s right: People pay to watch top gamers play online, which is how these worldwide competitions started to expand. Now, companies want in on this multibillion-dollar industry.