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SiGMA

Understanding the entirety of the Esports industry

Posted:: Aug 05, 2022 16:18 Category: Deep Tech , Esports , Online , Posted by Maria

The esports industry is an international one, where top-notch video gamers participate in competitions. Just like physical sports include tennis, rugby, football and other sports, esports also has different varieties

Esports is a growing industry that’s still fluid, with several of its participants engaging in gaming diversities like playing in the Betsafe casino or trying out other hobbies. Additionally, the stereotype that most esports participants are young people without jobs is simply untrue. Around 400 million people all over the globe watch esports over the internet and in person.

Since the esports industry is firmly rooted on the internet, it has great potential for massive expansion. In 2016, a major milestone was recorded as the esports game League of Legends followed by 43 million individuals. In comparison, only 30 million people watched the NBA Finals Game 7 in the same year.

What Exactly Is Esports and its Associated Advantage?

Esports stands for electronic sports. It is a sector where online gaming is rated like any other traditional sport with spectators. Individuals who have watched esports competitions know that they are not much different from traditional sports ones. The only major difference is that the esports opponents compete against each other virtually rather than physically.

If you’re wondering why anyone would want to watch other people play games, just think about how sports lovers enjoy staring at their screens, and watching professionals play basketball or football. Like professional sports clubs, qualified esports players engage in gaming at the highest level.

Although video games inspired by traditional sports are played in competitions like FIFA or NBA2K, games from other genres like League of Legends and Call of Duty are also quite popular.

One benefit of esports over physical sports is the ease of joining the industry as a participant. Players that are good at gaming can stream themselves playing to gain fans. Others can join professional esports teams, get paid salaries, or earn prizes from global competitions.

Another advantage is that any esports player can become successful, regardless of their form. You’d have to be of considerable height in sports like basketball to have an advantage. In esports, your height and physical form don’t really matter. There’s absolutely zero correlation between physical features and winning esports competitions.

Essentially, this levels the playing ground, breaking gender boundaries and allowing anyone to participate in games.

Components of the Esports Industry

– Players

Becoming an esports player means being the best of the best. To be considered an esports player, you’ll need to train for more than 10 hours consistently every day to build quick reflexes and the proper skills necessary for a particular game.

Esports players typically choose one of two options to further their careers. The first is to stream themselves as they compete in games to grow a fanbase. This choice can go one of two ways. First, a player may end up making a meager amount if their channel cannot attract enough fans. On the other hand, they could be developing a more-than-lucrative career, if their fanbase becomes significant.

The income variance in streaming yourself as an esports player is considerably high. Popular YouTuber PewDewPie reportedly made more than $7 million in 2015.

The other option is playing for a professional esports team and building a following. Typically, esports players make six to seven figures a year. However, the amount is considerably less than that of an esports streamer at the top of their game.

– Teams

Teams are composed of expert esports players that engage in multiplayer games or solo games to earn money. These teams are typically focused on a single game type and are followed by millions of fans on social media.

– Organizations

Top esports teams are often invited to join various organizations. Organizations typically get lots of teams that participate in different game genres. To understand it better, you need to think of it as a university offering scholarships to high school players in various sports like baseball, track sports, football and basketball.

The organization then has the power to engage in different competitions, increasing in popularity as they win. The fanbase of an organization is also highly dependent on the esports teams they employ.

– Leagues

Esports teams compete in leagues comprising games, seasons, and global championships. These leagues are similar to physical sports leagues like the NBA or Major League Soccer. Major League Gaming and the Electronic Sports League are popular firms that manage these leagues.

The biggest leagues can attract prizes of up to hundreds of millions. For instance, the total prize money in 2016 was $95 million. The Dota 2 competition also attracted prize money of $21 million.

The Esports Industry Audience

There are around 400 million esports fans globally. Roughly half of this number are irregular esports viewers, and the rest are classified as enthusiasts. Asians make up more than half of esports fans, with 51%.

The median esports fan also has an annual income of $75,000, ensuring that the purchasing power in the industry is higher than that of other sectors. Esports fans also spend more than 98 minutes watching games, on average. 

Conclusion

The esports industry is a growing sector with an audience of around 400 million. The industry comprises players, organizations, leagues and teams. The key advantage of this industry is the ease with which players can enter the scene. Esports also offer a more leveled playing ground than physical sports.

Join us in Belgrade, Serbia from the 22-25th August:

Renowned for its beautiful scenery and rich culture, the Balkans have been sought after by entrepreneurs with an eye on the growing iGaming ecosystem calling the region home. As the home to the global gaming community, the SiGMA Conference is known far and wide for its enlightening panels, inspiring speeches, ample opportunities to invest and network, and the ability to do it all while having the time of your life. Join us in Belgrade for the best the industry has to offer and for a window into the future of worldwide gambling. To learn more about sponsorship and speaking opportunities or to inquire about attending the event, please contact Sophie at [email protected]

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