eSports is a competitive, multiplayer video game competition that has risen in popularity in the past decade or so. It’s a way for professional teams to compete against each other. Many traditional sporting organizations are getting on board. There are also a number of publicly traded companies that have made investments in esports.
Esports has grown into a lucrative business, with a global audience estimated to be over 276 million. The industry has generated around $1 billion in revenue each year, with more growth expected in the Asia-Pacific, Europe and Latin America regions.
The biggest investment in esports came from YouTube, which announced an exclusive multi-year broadcasting deal with gaming platform Faceit. During the COVID-19 pandemic, many professional athletes turned to esports for a competitive fix. The NBA, NHL and soccer Leafs all have esports teams. A few celebrities have taken up a role in the esports world, including Michael Jordan, Drake and Will Smith.
A good start for an esports team is to recruit a group of players that are capable of producing results. This can be done through networking or by identifying individuals who are experienced and skilled at the game you plan to play.
In addition, an esports team should have a designated space to hold team meetings, gaming equipment and other facilities. If possible, it’s a good idea to start small and expand as the team grows. As you gain experience, you should use tournaments to build a solid roster and brand. It’s important to have a budget for at least a year so that you can take care of administrative personnel, player salaries, travel expenses and other related costs.
It’s no secret that video games have been adopted by a growing audience over the last decade or so. While esports may have originated in the Asia-Pacific region, it has now spread to Europe and North America. This is largely due to the fact that traditional sports organizations have been making efforts to learn more about esports and to develop esports teams of their own. Next blog post
While there are many opportunities available for esports organizations today, a startup esports team should take the time to develop a solid network of contacts. Creating a network of esports professionals can give you a distinct competitive edge. You can also get involved with local tournaments to test your team under pressure.
In addition, esports teams are able to make money in a number of ways. They can generate revenue by acquiring sponsorships and by winning tournaments. They can also develop a brand name and create intellectual property. Additional info
It’s not difficult to see why esports has become such a popular and lucrative business. In fact, Goldman Sachs estimates that the total audience for live esports will reach 276 million by 2021. That’s nearly twice the size of the entertainment industry’s entire movie and television business.
In addition, esports companies are able to leverage their fan base to develop new markets. This includes the Asian market, where esports is predicted to be the fastest growing sector. As the industry continues to grow, more video game developers will be able to benefit from their exposure to the industry.
