HomeeSportsGlobal Esports Revenue Expected To Hit USD$1.1 Billion This Year

Global Esports Revenue Expected To Hit USD$1.1 Billion This Year

Global Esports Revenue Expected To Hit USD$1.1 Billion This Year

Astudy has found global Esports audiences are set to grow to 474 million in 2021, hitting a revenue figure just short of USD$1.1 billion by the end of the same year.

The study, conducted by market researcher, Newzoo, predicts a year-on-year (YoY) increase of 14.5%, attributing this to developments in Esport growth markets, as well as the rise in mobile gaming.

The report also makes note of a likely growth of competitive gaming audiences, with a predicted compound annual growth rate (CAGR) of 7.7% to 577.2 million by 2024.

Newzoo has pointed out the unpredictability of the COVID-19 pandemic has impacted negatively on some Esport revenue streams, however.

The cancellation of in-person events has affected ticket revenues massively, and has negatively impacted on the sale of merchandise.

In a statement, Newzoo said the impact of the pandemic “has undoubtedly underlined the resilience of regional ecosystems for the wider market, which may shift strategies and ensure a more secure Esports market for the future”.

Growth rates in the live streaming market are a positive, with wide-spread lockdowns allowing for major spikes across viewing platforms.

The study says live streaming audiences will reach 728.8 million by the end of the year, a 10% increase from 2020, whilst the total target is expected to rise to 920.3 million in 2024.

Double-digit growth is expected in a number of emerging markets and regions, particularly in Latin America, the Middle East and Africa, Central Southern Asia, and Southeast Asia, with China in particular pushing streaming audience close to the one billion mark, which “seemed unfathomable even five years ago” according to Newzoo.

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