A Billion Dollar Industry: The Story Behind the Massive E-Sport Economy

A Billion Dollar Industry: The Story Behind the Massive E-Sport Economy

What do the economics of the gaming industry look like?

What do the economics of the gaming industry look like?

The US gaming industry pulled in more than $23 billion in 2016, according to figures by Newzoo. Globally, the industry is worth $100 billion a year, and is predicted to rise at close to 10% a year. Exciting new technologies such as VR do contribute to such growth figures; the most potent driving force behind these impressive numbers, however, is the simple mainstreaming of video gaming. No longer are video games and tech the province of game-addicted teenage boys. Rather, they draw millions of people in from every age group. The world is beginning to recognize the attractions of gaming as a legitimate form of entertainment that is right up there with television, books and the movies. The Sports Techie community blog is a gaming champion for all generations. Advanced technology combined with the sport skill level of gamers are a seamless connection driving the eSports industry forward into the future.

A Billion Dollar Industry: The Story Behind the Massive E-Sport Economy - Sports Techie blog.

A Billion Dollar Industry: The Story Behind the Massive E-Sport Economy – Sports Techie blog.

Mobile platforms are a powerful source of growth

With smartphone platforms practically putting a gaming console in every human hand, the possibilities are endless. They are beginning to draw users away from every other form of entertainment. It is no surprise that they account for a third of all growth seen in gaming. IPads and other tablets contribute another 15%. It doesn’t take an expert to see that the mobile platform is set to dominate the gaming industry before long.

PC gaming offers serious growth, as well.

PC gaming offers serious growth, as well.

PC gaming offers serious growth, as well

While mobile gaming has been getting a lot of attention for its growth figures, for now, most gaming enthusiasts still turn to their PCs and consoles for their gaming fix. The power that PCs offer is one reason for their dominance. Great gaming requires powerful hardware, something only PCs offer. They also offer a better overall gaming experience with dedicated controllers and large screens.

With the phenomenal effects possible, PC gaming isn’t just for those playing games, it’s also a spectator sport. Not only do millions watch serious PC gaming tournaments on cable, they go to live games, as well. Recent figures show a 200 million-strong television audience.

The gaming industry has its own global Olympiad, superstar players, sponsorships and television deals. Game streaming channels are some of the most popular on YouTube. Star commentators known as shoutcasters have avid followings.

What do the economics of the gaming industry look like?

From the hardware makers and the software publishers at the very top to the vast ecosystem that they support, there is a lot of room for those with creative ideas. Viewing platforms such as Amazon Twitch, the makers of gaming accessories, companies that sell specialized gaming stations, gaming chairs, controllers and merchandise, and e-sporting event promoters make a lucrative business catering to the industry. The Twitch game video platform alone pulls in a billion a year, and jobs with game publishers are particularly well-paid.

Not only do millions watch serious PC gaming tournaments on cable, they go to live games, as well.

Not only do millions watch serious PC gaming tournaments on cable, they go to live games, as well.

It’s an unpredictable business

Only in 2006 did industry observers such as Bill Gates state that PC gaming would be a niche industry, and consoles would grow at 50% a year. Then came smartphones and Facebook, and turned the market on its head. The gaming industry is notoriously hard to predict. Nevertheless, there is no sign that people will ever disengage from gaming. The way they engage with the games they love, however, is something that is always up in the air.

Mobile platforms are a powerful source of growth.

Mobile platforms are a powerful source of growth.

Sports Techie, Evie Harper is a geeky girl gamer! Her idol is pro-gamer Livia Teernstra though Evie realizes that she mustn’t give up her own day job! When she’s not gaming Evie is writing about it, sharing her passion for gaming with the world.

There are countless passionate eSports fans like Evie around the world. To meet the demands of the business of gaming, eSports leagues, tournaments and high-stakes competitions are all the rage with millennials, generation Z and even generation X, players and fans alike.

eStream: Overwatch League Sets the New Standard for Pro Esports

Now there is a way for anyone to go pro, the new Overwatch League. Blizzard Entertainment is launching a professional eSports league complete with a player  combine next year. Gamers that are evaluated and perform the best have a chance to be signed by a team with a guaranteed contract with benefits.  Players, teams and sponsors will have a localized place to compete via the Overwatch League.

The sports tech business of eSport is beginning to mature quickly as ELEAGUE by Turner Sports indicates, the players are becoming established around the nation and world, the broadcasters are lining up to deliver over the top, and the money is starting to flow big-time in the billion dollar eSports industry.

Play on gamers.

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