Is Esports Bigger Than Hollywood?

It’s been said that the esports industry is bigger than Hollywood. But is it really? We take a look at the numbers to see if this claim holds any weight.

The History of Esports

Esports has been around for awhile, but it has only recently started to gain mainstream attention. With tournaments being held all over the world and millions of dollars up for grabs, it’s no wonder why people are so interested in it. Let’s take a look at the history of esports and how it has become what it is today.

Origins

The term “esports” is derived from the word “electronic sports”. It is used to describe the world of competitive video gaming. The first esports tournament took place in 1972 at Stanford University. Students competed in a game called “Spacewar”. The prize was a year’s subscription to “Rolling Stone” magazine.

The first real esports boom occurred in the 1980s with the advent of arcade gaming and games consoles such as the Nintendo Entertainment System (NES). Games such as “Donkey Kong”, “Pac-Man” and “Super Mario Bros.” were some of the most popular games of this era. Tournaments were held in arcades and gaming conventions where players could compete for cash prizes.

In 1997, the very first professional esports organization was founded. Called the Cyberathlete Professional League (CPL), it held tournaments all over the world for FPS games such as “Quake” and “Unreal Tournament”. The CPL Holdings company was eventually sold for $28 million in 2007, cementing esports as a viable business venture.

With the rise of broadband internet in the early 2000s, online gaming became more popular than ever before. This led to the creation of more esports organizations and competitions for a variety of different games. In 2003, South Korea hosted the very first international esports tournament called the World Cyber Games (WCG). The WCG was modeled after traditional sporting events like the Olympics and featured athletes from all over the world competing in popular games such as “StarCraft: Brood War”, “Counter-Strike 1.6”, and “Halo 2”.

Growth

The history of esports is fascinating, and the industry has come a long way in a relatively short period of time. According to Statista, the global esports market was valued at nearly $900 million in 2018 and is expected to grow to over $1.6 billion by 2022.

While esports is still a relatively new industry, it has already surpassed traditional sports in many ways. For example, the 2017 League of Legends World Championship had more viewers than the Finals of the NBA, MLB, and NHL combined. And according to Newzoo, there are now more esports fans than there are fans of baseball or hockey.

The rapid growth of esports can be attributed to a number of factors, including the increasing popularity of video games, the rise of social media and streaming platforms such as Twitch, and the growing interest from investors and sponsors. With so much momentum behind it, there’s no doubt that esports is here to stay.

The Present of Esports

It is no secret that Esports has seen a meteoric rise in recent years. With the likes of Twitch and YouTube, Esports has become more accessible than ever before. Celebrities and athletes have also gotten involved, which has helped to legitimize the industry. So, is Esports bigger than Hollywood?

Popularity

The worldwide esports audience will grow to 454 million people in 2022.
101 million of these people will be considered “esports enablers,” people who don’t necessarily play games themselves but watch esports content and engage with the gaming community.
This is compared to the estimated peer-to-peer global gaming audience of 2.6 billion in 2017.
Global revenue for the esports industry is forecast to reach $1.65 billion by 2021, an increase of 180% from $590 million in 2017.

Tournaments

The Present of Esports – (Is Esports Bigger Than Hollywood?)

Tournaments are live events where gamers can compete for prizes in front of a cheering crowd. The biggest events attract millions of online viewers as well as offline spectators, and the prize pools can be incredibly large. The International, a Dota 2 tournament, had a prize pool of nearly $25 million in 2019 – making it one of the largest in esports history.

The Future of Esports

The global esports market is expected to generate revenue of $1.1 billion in 2019, an increase of 27.5% from 2018. This is bigger than the entire film and TV industry in the US. In 2020, the global esports market is expected to reach $1.8 billion. The rapid growth of esports has led to the rise of professional gamers, who are now treated like celebrities.

Predictions

It’s hard to predict the future, but if the past is any indication, esports is on track to become even bigger than it is today. In just a few short years, the industry has exploded in popularity, with games like League of Legends and Overwatch attracting millions of viewers and players around the world.

And it’s not just casual observers who are taking notice. Big name celebrities like Drake and Steve Aoki have invested in esports teams, while traditional sports organizations like the NBA and NFL are starting their own leagues. And brands are pouring money into sponsorships and advertising, eager to reach the lucrative millennial demographic.

So what does the future hold for esports? Here are a few predictions:

1. The industry will continue to grow at an explosive rate.
2. Esports will go mainstream, with more people than ever tuning in to watch competitions.
3. Traditional sports will increasingly embrace esports, incorporating elements into their own leagues and events.
4. Brands will continue to invest heavily in esports, using it as a way to reach young consumers.
5. Esports will become an increasingly prominent fixture on television and in popular culture.

Opportunities

The future of esports is looking very bright. With the introduction of 5G and more powerful hardware, we are going to see a new era of gaming. Games will be more realistic and immersive, making it easier for people to get involved in esports.

There are already a number of traditional sports teams that have invested in esports, and this is only going to increase. Esports provides a huge opportunity for brands to reach a young, energetic and engaged audience.

As the popularity of esports continues to grow, we are going to see more investment from traditional media companies. This will help to raise the profile of esports and attract even more participants.