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The eSports industry is set to reach 1.6 Billion in revenue by 2023


People interested in eSports know that this industry has been on the rise in the last couple of years. Although most of them used to play only for fun, now, they can compete for prizes that can reach millions of dollars. Naturally, this attracts a lot of attention, which is why millions of fans watch their favorite team or player.

Due to its increasing popularity, some of the world’s biggest companies saw an opportunity to advertise their products. Besides the gaming/tech giants, there are even several automotive brands that started to sponsor various events. That’s why, according to betenemy, the eSport industry is set to reach 1.6B in revenue as soon as 2023. 

What’s the situation now?

Truth be told, 2020 was not a good year for most businesses around the world. Some people thought that the pandemic wouldn’t harm the eSports industry, but this wasn’t the case.

Even though this section is doing significantly better than others, the revenue for 2020 is $950,000,000, which means it’s around $7,000,000 less than in 2019. The reason behind this difference is in the postponed tournaments, especially in Dota 2. Since this is the eSport with the largest prize pools, even the slightest changes have a negative effect on the industry.

Which are the tournaments that will help this industry surpass the billion-dollar mark?

Every leading eSports title has numerous events. Most of them are regional and have a decent reward, but there is at least one major tournament that brings together the best teams in the world.

There is one game that stands out when it comes down to tournaments, and that’s Dota 2. The International (which is Dota 2’s “world cup”) is an event where the best teams in the world compete for a prize, which in 2019 reached the jaw-dropping amount of more than $34,000,000.

Although The International 10 (TI 10) was postponed for 2021, it still managed to accumulate more than $40,000,000, making it the biggest eSports tournament in terms of prize pool ever. Needless to say, TI 10 will bring massive attention to the eSports scene and will help this industry grow even more.

Apart from Dota 2, Fortnite and League of Legends also have pretty impressive events with prize pools that reach millions of dollars. There are many more games that will be classified as eSports soon, some of which will probably become even more popular than the current ones.

How much money does a pro gamer earn?

The short answer to this question is a lot. Most pro gamers (regardless of which eSport they compete at) have a basic salary and earn a certain percentage (usually over 50%, but it depends on the game) of each event’s prize pool. For example, some of the world’s best gamers have won more than $5,500,000 in two years from tournaments alone.

Besides the money they win by playing, the biggest names in this industry that have celebrity status often advertise some of the most popular companies in the world.

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(Syndicated press content is neither written, edited or endorsed by ED Times)

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