Reasons Behind eSports ' Phenomenal Growth

There are various factors that contribute to the outstanding growth and popularity of eSports, including high accessibility and inclusion, career opportunities, and increased revenue and profitability.

FREMONT, CA: The eSports industry has grown tremendously over the years in terms of viewership and revenue. Increasing viewership is what contributed most to revenue growth, and it's not just because those viewers generate revenue. In order to reach a large and engaged audience, brands are investing in eSports marketing, both directly and indirectly.

Several other aspects of eSports have also grown, many of which are interconnected.

Viewership of eSports is on the rise: Covid-19 has changed the nature of eSports. Livestreaming, eSports, and even influencer marketing are blurring the lines between them. As a result of the pandemic, viewing spiked across all live-streaming platforms. The lockdown forced people to spend time at home, so they turned to live streaming to pass the time. While the eSports market experienced challenges during this time, it also saw considerable growth and expanded into markets where little activity had previously existed. Many in-person events were canceled, and some international events were replaced by regional competitions, causing the industry to suffer.

There has already been a noteworthy increase in eSports viewers since 2016 - both occasional viewers and enthusiasts. According to Newzoo's old definitions, there was a 12.3 percent increase between 2018 and 2019. According to Newzoo's 2019 adjusted figures, there were 200.8 million occasional viewers and 197 million eSports enthusiasts for a total audience of 397.8 million.

The Newzoo figures state that eSports enthusiasts' compound annual growth rate (CAGR) from 2019 to 2024 will be approximately 7.7 percent. The number of occasional viewers is expected to grow to 291.6 million by 2024. The total audience will be 577.2 million, including 285.7 million eSports enthusiasts.

Live eSports coverage on platforms is on the rise: Online platforms now make watching eSports content more accessible, so it's no surprise that more people are watching eSports videos and events. These platforms are used by eSports streamers to broadcast live events and their own gameplay. It makes it easier for fans to participate in their favorite events and engage with their favorite eSports players.  

On these platforms, an increase in viewers and broadcasters can also be seen. Despite the fact that not all of the viewers and broadcasters on these platforms are relevant to eSports, this increase is likely to affect it.

In their Q3 2021 report, Streamlabs made some interesting observations. Compared to Newzoo stats, these statistics combine both eSports and gaming. Livestream viewers still prefer Twitch. Over the quarter, it accounted for 70.5 percent of the market share for hours watched. Twitch viewers' viewing increased from 3.11 billion hours in Q1 to 5.12 billion hours in Q2 2020, when Covid lockdowns first hit. 

Compared to the same quarter in 2020, Facebook Gaming viewership increased by 250 million hours to 1.29 billion hours in Q3 2021, 15.7 percent of all hours watched. In Q3 2021, YouTube Gaming Live streams rose from 7.6 million (3.4 percent) to 17.1 million (6.9 percent).