Competitive gaming has grown significantly in recent times and has grown past the billion mark. With this growth, eSports has greatly influenced traditional sports, changing the way people consume and play sports. eSports has opened up new revenue streams and backend opportunities by creating a new ecosystem of open jobs. The growth of viewership and engagement is the most important impact of eSports on the business of sports.
Heightened Viewership and User Engagement
Young athletes are increasingly interested in eSports due to its fast-paced action and entertainment appeal. According to a report by Newzoo, the number of global eSports subscribers reached 474 million in 2021 and is predicted to grow to 577 million by 2024.
This growing following gives sports enthusiasts a huge opportunity to target new applications and demographics. Sporting events have become a huge magnet, drawing huge crowds and producing record audiences.
The 2022 League of Legends World Championship attracted 5.15 million concurrent viewers, making it one of the most-watched events in the world. The growth of esports has also led to the creation of dedicated sports arenas and facilities, which have become popular destinations for players and fans as well.
Sponsorship and New Revenue Streams
Esports has opened up new victory channels and support gaps in the name of sports sustainability. As eSports membership grows, traditional sports teams and organizations offer opportunities for collaboration and cross-promotion. Several professional sports teams and organizations have participated in the esports market in the past by starting their own sports teams or sponsoring the existing ones.
Esports equity has also attracted significant investment from non-endemic brands such as Coca-Cola, Samsung, and Nike. These brands celebrate the opportunity for eSports to reach a young and largely engaged following, providing new support opportunities for sports organizations.
Esports Betting
The eSports generation is one of the fastest-growing parts of sports betting and has had a major impact on it. With the rise of eSports, many traditional sportsbooks have started offering odds on major sporting events, allowing fans to bet on their favourite players and teams just like in traditional sports.
It brought excitement and engagement to the sports community while introducing a new profit margin for sportsbooks and sports organizations. Thanks to this, it is possible to get the best offers as various competitive markets and competitive odds are now available.
Social Media
eSports offers a new kind of future for supporters, as "actual authentic" sports culture is still significantly more important than professional eSports. An environment where sporting events make the most out of the commercial needs of observers in their spare time. The ultramodern user wants to share rather than just watch or hear, and eSports brings these ideas to people's leisure time.
With social media and methods that expose new perspectives, eSports is fundamentally changing the way we approach sports. Many professional and amateur eSports teams and athletes broadcast their matches on the likes of Twitch and YouTube. Many people can participate and watch eSports because anyone can visit one of these sites and watch the events for free (after registration, in the case of Twitch).
Adrenaline Rush
One of the reasons why the industry welcomes famous sponsors from all over the world is the Adrenaline Rush and Engagement International competitions, where there are big prizes for the winning teams. The world's best athletes and professional players are drawn into the business by the widespread endorsements and viewer relationships that stream and compete for a living.
Both physical and online casinos use eSports to attract new players and improve their performance. With the ability to bet on their favourite players and teams in the best online casinos, bettors now have a new and exciting system to make money while watching some of the most competitive sports in the world.
More than a fifth of the world's population has previously participated in this eSports business, so it seems reasonable that there must also be a desire to play the game.
Streaming
Like watching sports, the user’s interest increases. Cable subscriptions have been canceled and streaming is available on networks like Netflix. In addition, viewers do not like cable lines, so they only have to get sports equipment to watch sports.
Fans often watch sports for free or at a low cost without the help of a cable provider. With the introduction of NBA League Pass, Netflix's basketball-specific interpretation, the NBA is once again at the forefront of this evolution.
NBA League Pass has been a huge hit, especially among new and young fans. Sports inspired both of them, which are now studied by certain sports.
The Rise of eSports
According to a report by Newzoo, the global demand for eSports is huge, ending 2018 with 380 million viewers. The report also predicted that the numbers are likely to rise to 557 million, of which 250 million would be dedicated users and the remaining 307 million would be casual observers. The request is estimated to be worth a billion dollars and more as the number of players and observers grows.
The Asia-Pacific region is witnessing tremendous growth in eSports as it had a $1.5 billion share in 2022. The share of market applications was 57%, which was initially 51% in 2018. The alternative place is more than equal to the United States and Europe at $1.2 billion.
Awareness of online gaming is growing tremendously. People now know what eSports gaming is and why it is so addictive. Improvements in graphic features such as Xbox and PlayStation further increased people's desire to play and watch games. The numbers were multiplied by mobile operations.
In earlier times, people only flowed through portals and greater screens. With many streaming platforms having app formats ready and worked on, it has become easier for people to watch games with their smart devices. More people flocked to online platforms, which helped advertisers a lot. The lot is also quite young, which includes millennials and Gen Z. This increases the compass of chains such as Coca-Cola, Intel, Mercedes-Benz, and other chains that finance event games, which also benefit from the huge income.
All this helps companies raise the stakes when deciding the winning amount. The revenue earned helped them grow the fund's prize pool as individual players took a million-dollar cut. Online gaming took centre stage in 2019, with over $211 million awarded as prize money– the most ever.
The beacon that eSports future prize money will be much higher. This led to a huge increase in investment by venture capitalists and private equity firms. And the numbers grew tremendously. While the value of investments raised in 2017 was $490 million, the amount raised was just short of $4.5 billion, which is an unfathomable statistic given the growth rate of 837 years.
In recent times, it has helped agencies raise the standards of developing sports programs. Despite representing an ultra-modern sporting culture, it also merged with the traditional world of sport.
Future of the eSports Industry
Digital Gaming debuted as a rally sport at the Asian Games in Jakarta, is likely to be introduced at the 2023 Pan American Games in Santiago, and is being considered as a side event for the 2024 Paris Olympics. The association is considered a convergence of avant-garde sports, opening new paths for the world.
Now that you know that eSports is a billion-dollar industry, you should know one more remarkable fact. The biggest digital gaming competitions take place in coliseums, and due to the pandemic, this has decreased from being an important source of income for organizers and game owners.
However, once the contagion is resolved, the future growth of eSports will continue to grow, and will likely come up with new ideas that will make people fall in love with gaming.
Frequent updates to games
Most eSports games are often updated every two or three weeks as new content is released and content is changed to keep the game fair and give every character a viable option. These patches not only lead to the idea that these games are living, breathing developments but also shorten the increasingly frequent exchanges between developers and players.
These changes are creating a buzz for the game in question, with many YouTubers and social media users noting - sometimes violently - when their favourite characters are buffed (increased in power) or weakened (depowered). However, expect to see it in games where you might not have expected balance points.
They may not be as consistent as every two or three weeks, but the game developers have noticed the opportunity to change the cover of the game to fix a game bug or an unpopular section.
Verdict
The impact of eSports on the sustainability of the sport has been significant, from increased viewership and engagement to new revenue streams and sponsorship opportunities. The growth of eSports has also created new jobs, offering gaming and sports enthusiasts a unique opportunity to explore an exciting career. As eSports continues to develop and grow, this will have a truly significant impact on the sustainability of the sport in the time to come.
