/ Jul 24, 2024

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How esports is growing in present

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Esports, the world of competitive video gaming, is experiencing a meteoric rise. Here’s a breakdown of its current growth spurt:

Audience Boom:

The viewership numbers are staggering. There are two main categories: occasional viewers who tune in casually, and enthusiasts who follow the scene religiously. In 2022, these groups combined to form a massive audience of 532 million strong, reflecting a steady increase since 2016 [2]. Major tournaments are pulling in huge numbers, with some exceeding 100 million viewing hours [1]. Live attendance is flourishing too, with top events selling out tens of thousands of tickets in record time [1].

Financial Firepower:

The industry isn’t just popular, it’s profitable. Esports revenue reached a staggering $1.38 billion in 2022, reflecting a healthy 16.4% year-on-year growth [2]. This growth is expected to continue, with analysts predicting esports revenue to reach $1.87 billion by 2025 [1]. China is a major driver, projected to generate over a third of global esports revenue in the coming years [2].

Spreading its Wings:

Esports is mirroring traditional sports in its growth trajectory. Prize pools are reaching dizzying heights, with some tournaments like The International (Dota 2) boasting prize pools close to major sporting events like Wimbledon [1]. The number of professional esports athletes is also ballooning, with an estimated 30,000 competitors in 2022 compared to just 14,000 in 2015 [1].

Convergence with Entertainment:

Esports is blurring the lines with mainstream entertainment. Popular rappers like Travis Scott are performing virtual concerts in games like Fortnite, attracting millions of viewers [1]. This crossover appeal is fueling the overall growth of the esports market.

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