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Global eSports revenues to reach $1.5 billion by 2020
A new forecast released by market research firm Newzoo predicts the global eSports market will see growth slow this year but grow rapidly from next year until 2020.
In 2017, Newzoo forecasts the global eSports economy will reach $696 million. Consumer spending (tickets/merchandise), game publisher investment as well as brand sponsorship, advertising and media rights will account for the growth.
The 2017 total is up 41.3% on Newzoo's $493 million forecast for 2016's total global market but represents a slowdown on previous YoY growth, both in dollars and percentage.
However, Newzoo expects things to pick up in 2018 with the global eSports market reaching $1.5 billion in annual revenue by 2020. During this period, the eSports audience will grow but not as fast as revenues. By 2020, the eSports fanbase (diehard fans) is set to grow to 286 million, up from 191 million this year.
"eSports is not only growing exponentially as a new independent business and industry, it is also accelerating the convergence of various established industries," says Newzoo CEO Peter Warman.
"For brands, media, and entertainment companies, eSports provides a chance to capitalize on the favorite pastime of digital natives and Millennials: playing games and watching game content. With the arrival of live streams and events, gaming has entered the realm of broadcasters and media that can now apply their advertising business model to a market previously out of reach for them."
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