A leading global provider of games and esports analytics projects its industry will amass more than $1 billion in revenue for 2021 with additional growth in media rights and the livestreaming market.
According to Newzoo’s Global Esports and Live Streaming Market Report, the esports industry is expected to reach the $1.084 billion mark in 2021, which translates to a more than 14 percent growth for the esports industry, which generated $947.1 million in revenue last year.
Newzoo anticipates that the esports industry will make $833.6 million -- more than 75 percent -- from their media rights and sponsorships due to an increase in the livestreaming audience for esports.
Newzoo predicts the global live-streaming audience will hit 728.8 million by the end of 2021, marking a 10 percent increase over the 662.6 million who watched in 2020.
The anticipated growth comes after the industry experienced an influx in viewership in streaming platforms during the COVID-19 pandemic.
“The pandemic has certainly accelerated the growth of the live-streaming audience, but we expect stabilization once the pandemic subsides,” the report stated.
Newzoo anticipates the live-streaming audience total will reach 920.3 million by 2024.
“This growth will also be driven by mobile gaming’s popularity in Latin America, the Middle East and Africa, Central Southern Asia, and Southeast Asia,” the report stated. “Countries in these regions (especially China) are pushing the streaming audience ever closer toward the one-billion mark -- a feat that seemed unfathomable even five years ago.”
--Field Level Media