With the world changing every day, it is only logical that the versions of entertainment shift as well. Traditional sporting events have been able to hold onto their fan base for centuries, but with technology, the sports industry has increasingly grown and continues to expand rapidly.
Many people are unaware of the alternative world of sports, especially e-sports or electronic sports, and how it is growing exponentially. Esports tournaments are competitive tournaments of popular video games with top professional gamers competing for a prize and pride in front of huge audiences.
In the 2000s, esports became extremely popular with PvP – player vs player competitive games. This PvP popularity boom caused a considerable surge in the gaming world regarding competitive gaming and the professional gaming scene.
Esports Worth
Since the first Quake Cyberathlete Professional League was established in 1997, the esports industry has grown tremendously, reaching a 411 million fan audience by the end of 2018. Research indicates that 65% of fans are between the ages of 18–34, and while the fan base skews male, only 38% of esports fans are women.
PWC predicts continued growth in esports revenue from 2022’s $455 million, reaching $662 million in the US by 2027, including consumer ticket sales, sponsorship, streaming advertising, consumer contribution, and media rights.
As media rights and sponsorship continue to grow, along with the formalization of pro sports leagues, esports monetization is expected to reach $3 billion by the end of 2023. On the contrary, the traditional Sports market is valued at $620 billion. Yet, this sum implies almost every type of sport, infrastructure construction, sporting goods, licensed products, and live sports events.
Getting Attention from the World’s Biggest Players
The success of esports tournaments is largely attributed to live-streaming platforms. Amazon’s acquisition of the leading video-streaming site, Twitch, in 2014 was a strategic move to tap into the rapidly growing esports audience and explore other live-streaming opportunities.
Since this acquisition, the number of average viewers on Twitch has doubled to 15 million, which is half of YouTube’s daily viewership. Having lost the bidding war for Twitch, Google has recently ventured into gaming with its cloud gaming service, Google Stadia.
Esports Finding Its Audience
Game developers and esports broadcasters are now competing with traditional sports marketers for the same coveted demographic: ages 18 to 34. The audience makes up 73 percent of esports viewers, as estimated by consumer marketing research firm Global Web Index.
The global esports market is expanding rapidly. This shift in entertainment is not just limited to esports. Another burgeoning area is online casino gaming, especially in the USA, where platforms constantly innovate to attract users. One such innovation is the introduction of various bonuses offered by online casinos, a strategy that has proven successful in engaging a diverse clientele.
The Rise of Online Casino Gaming
Parallel to the growth of esports is the rise of online casino gaming, which is a distinct yet equally dynamic sector. Online casinos in the USA have been particularly adept at adapting to market trends. They have recognized the importance of offering attractive bonuses for online casinos in the USA, which are crucial in drawing in and retaining a diverse client base. These bonuses have become a key feature in the competitive landscape of online gambling, distinguishing it from the esports betting market.
While esports betting is intertwined with the outcomes and excitement of competitive gaming, online casino gaming offers a different kind of thrill with its array of games and the allure of casino bonuses. Understanding these as separate entities is essential, each appealing to its audience with unique offerings and experiences.
The Rise of Platforms Offering Live Esports Coverage
Unsurprisingly, more people watch esports videos and events, considering how online platforms now make watching esports content more accessible. Esports streamers use these platforms to broadcast live coverage of events and their gameplay. This makes it easier for fans to participate in favorite events and engage with their preferred esports athletes.
So, one can see an increase in the number of viewers and broadcasters on these platforms. Although not all the viewers and broadcasters on these platforms relate to the esports industry, this increase still likely affects the industry.
10 million unique channels streamed on Twitch in quarter 3 of 2022, up from 9.6 million in the previous quarter. Unique channels streaming on Twitch in quarter 3 increased by 4.1% as compared to the previous quarter.
Viewership for YouTube Gaming fell heavily after a burst at the start of the COVID-19 pandemic, by about 540 million hours from Q3 2020 to Q3 2021 to reach 1.13 billion hours, 13.8% of all game streaming hours watched.
The Convergence of Digital and Physical Sporting Experiences
The distinction between virtual and real-world sports experiences continues to blur more and more as esports rises to prominence and becomes a popular form of entertainment. This convergence is changing our understanding of sports and setting the stage for esports to coexist with traditional sports as a primary form of global entertainment in the future.
In-person esports events, filling stadiums and arenas, have become commonplace. The electric atmosphere of fans cheering for their favorite teams mirrors the energy of traditional sporting events, further blurring the lines between the two experiences.
Sports entertainment is evolving due to the combination of traditional sports and esports. Leagues and franchises are experimenting with hybrid models that combine virtual and live competitions. Due to this creation, fans are given a comprehensive experience, providing numerous avenues to interact with their preferred sports and teams.
Conclusion
The esports phenomenon has been rising for many years and does not show signs of stopping. It attracts its audience with a similar model to generic sports, with the Internet as its broadcast medium instead of television and radio.
In future analysis, it will be important to discover what possible effects this wide-scale access to esports will have on the younger generations and what this means for future phenomena that might try to use the Internet and the sports audience model.