Esports to grow significantly in 2017

A new report said that the industry will likely grow more than 40 percent this year.

Netherlands.- The Dutch research firm Newzoo released a report where they state that the global esports industry will grow 41.3 percent in 2017 to US$696 million. The report provides a realistic estimate of the industry’s future.

The 2017 Global Esports Market Report estimates that whilst this year the industry revenue is expected to double from the current US$325 million, by 2020 esports will reach approximately US$1.5 billion. The audience will also experience a significant growth from 385 million this year to 589 million in three years, and most of the revenues this year will be generated in North America and China. CEO of Newzoo Peter Warman said: “Esports is not only growing exponentially as a new independent business and industry, it is also accelerating the convergence of various established industries.”

“For brands, media, and entertainment companies, esports provides a chance to capitalize on the favorite pastime of digital natives and millennials: playing games and watching game content. With the arrival of live streams and events, gaming has entered the realm of broadcasters and media that can now apply their advertising business model to a market previously out of reach for them,” he added.