31 May. 2021
Esports has come a long way in the past 10 years, rapidly turning into one of the most lucrative industries in the world. Now, valued at more than £1 billion according to Business Insider, it has become a behemoth that even traditional sports need to be aware of.
So what has made Esports so popular? Firstly, it’s not just the players booting the industry’s numbers; it’s the sheer number of spectators! With improved gaming infrastructure comes many platforms enabling audiences to watch their favorite games and players anytime, anywhere, making the sector incredibly accessible.
Secondly, with so many similarities to regular sports, Esports are profitable for a lot of companies, which means new markets have been created to appeal to people who like to add excitement to the experience.
Thirdly, when you look at the industry, you notice, strangely, that traditional titles and releases don’t dominate – Instead, free-to-play games are at the top of the market and don’t appear to be going anywhere soon. The reason for this is that they are much easier to develop because there isn’t the same concern regarding costs and return on investment.
Lastly, with mobile trends constantly evolving, most gamers prefer to play via their smart phones and tablets rather than on a console. Today, there are around 2.7 billion gamers on the planet, the majority of which are mobile users.
All the above is why Esports are worth a projected £1 billion+ in 2021, and why the valuation is expected to continue to rise for the next decade.