GamesBeat Summit 2022 returns with its biggest event for gaming leaders on April 26-28. Reserve your spot here!
Newzoo released a new report on the state of esports and live streaming for the year so far. According to this report, esports will generate quite a bit of revenue before the end of the year – close to $1.38 billion. It also forecasts esports revenue to exceed $1.86 billion by 2025.
The report adds that the bulk of the revenue – about a third – will come from China. While esports has several revenue streams, Newzoo expects the most to come from sponsorships. It projects that $837.3 million, nearly 60% of esports revenue, will come from sponsorships.
The world loves esports
The report notes that different types of esports dominate in different parts of the world. Esports games for PC dominate developed markets such as North America, Europe, China, South Korea and Japan. Mobile titles are more popular in emerging markets such as Latin America, the Middle East and Africa, Southeast Asia, and India.
Newzoo expects the global esports audience to reach 532 million by the end of the year and 640.8 million by 2025. It also expects massive growth in the game live streaming industry in general as it reached 810 million by 2021. . 21% of live streaming content viewed that year.
Twitch was the largest game streaming platform in the West, with YouTube Gaming the second largest. Last year, they clocked nearly 20 billion gaming hours and 4.7 billion gaming hours, respectively.
GamesBeat’s credo in beating the gaming industry is “where passion meets business”. What does this mean? We want to tell you how important news is to you — not only as a decision maker in a game studio, but also as a game fan. Whether you’re reading our articles, listening to our podcasts, or watching our videos, GamesBeat helps you learn and have fun with the industry. Learn more about membership.
This post Newzoo: Esports will generate $1.38 billion in revenue by the end of the year was original published at “https://venturebeat.com/2022/04/19/newzoo-esports-will-generate-1-38b-in-revenue-by-the-end-of-the-year/”