How To Make Money With Esports?
With the rise of esports, many people are wondering how they can cash in on the trend. Here are a few ways you can make money with esports.
Introduction
The global esports economy will grow to $696 million in 2017, according to Newzoo, up 38% from last year. By 2020, it is expected to top $1.5 billion. In North America alone, esports revenues will reach $257 million this year and $ NSF by 2020. Clearly, there is a lot of money to be made in the business of competitive video gaming. But where is all this money coming from? And how can esports organizations, players, and content creators cash in?
Here are a few of the ways that you can make money from esports:
1) Sponsorships
2) Advertising and broadcast rights
3) Ticket and merchandise sales
4) Crowdfunding
5) Prize money
What is Esports?
Esports is short for electronic sports, and refers to organized, competitive video gaming. Professionals in the esports industry can make a good living by playing video games and participating in tournaments and events. In order to make money with esports, you need to have skill at playing video games and be able to market yourself as a player. You can make money through sponsorships, prize money, streaming platforms, and donations.
The Business of Esports
The business of esports is booming. The industry is expected to generate $696 million in 2017, up 38% from last year, according to market research firm Newzoo. By 2020, that number is expected to top $1.5 billion.
One of the biggest draws for esports is its potential as a marketing tool. Brands are estimated to have spent $517 million on esports in 2016, a figure that is expected to more than double by 2020, reaching $1.23 billion, according to Newzoo.
There are a number of ways brands can get involved in esports, from sponsoring teams and events to developing their own gaming products and content. Here’s a look at some of the most popular ways brands are tapping into the burgeoning esports market:
Team Sponsorships: Much like traditional sports, one of the most common sponsorships in esports comes in the form of team sponsorships. Brands will sign on to support a particular gaming organization and have their logos displayed on team apparel and jerseys.
Event Sponsorships: Esports events are also sponsored by brands in a variety of ways. From sponsoring an entire tournament to partnering with a single gaming organization or event organizer, brands can use event sponsorships to reach out to gamers and fans attending the competition.
Product Sponsorships: Many brands sponsoring teams or events will also use product placements as part of their sponsorship deals. This might include anything from having their energy drinks served at events to featuring their computers or headsets as prizes during competitions.
Branded Content: In addition to more traditional sponsorships, brands are also creating their own gaming-related content and investing in sponsored programs and channels on popular streaming platforms like Twitch and YouTube Gaming. This gives them an opportunity to connect with gamers and fans in a more organic way and create long-lasting relationships with the people who matter most to their business.
The Future of Esports
The future of esports is looking very bright. More and more people are getting into watching and playing esports, and there is a lot of money to be made in the industry. There are a few ways that you can make money with esports.
You can start by becoming a professional player. If you are good at one of the popular games, you can join a team and compete in tournaments. The prize money for these tournaments can be very large, and if you win enough, you can make a living off of tournament winnings alone.
You can also become a streamer. If you enjoy playing games and are good at commentary, you can start streaming games online. You can make money from donations from viewers or from advertisements that run on your stream.
Another way to make money with esports is to become a coach or analyst. If you have a lot of knowledge about one of the popular games, you can start coaching players or analysing matches. You can make money from teaching others or from providing your services to teams or organisations.
There are many ways to make money with esports, and the industry is only going to grow in the future. If you want to get involved, there are plenty of opportunities available.
