eSports Industry Grows to Almost $500 Million in 2016

With the rise of gaming livestreaming services like Twitch.tv, it is no surprise that the eSports market is also soaring to new heights. According to a PwC report, the global eSports industry is expected to rise to $463 million in revenue this year, up 43 percent over the last year.

The Video Games Industry

Formed in the 70s and the 80s when Atari used to be all the craze, the main asset of the industry is its high awareness among people, with 15 percent of the people surveyed having some awareness of it. The arrival of Twitch gave the industry a home, and last year’s viewing figures – over 240 billion minutes’ worth streaming – prove that this isn’t a niche market anymore.

57 percent of the people surveyed identified as hardcore gamers, while a third of the audience falls under the 18-24 age segment. Women surveyed were also likelier to be linked to eSports at 22 percent, compared to just 18 percent of men.

An average eSports viewer watches 19 days’ worth of gaming events each year. Once again, Asians and Hispanics are expected to be more frequent watchers at an average of 27 & 23 days a year, opening up a potentially large market in Asia-Pacific.

More than half of the people have used a laptop to tune in, while the TV audience amounts to just a third. People associated with eSports are also likelier to spend more than $300 on games each year, compared to around $250 for non-eSports consumers.

Among the types of games, first-person shooters are the most popular among viewers, accounting for 63 percent of all watched content. PwC expects both the viewership and participation to rise in the coming years, to 83 and 72 percent, respectively.