eSports economy to hit $1.5 billion by 2020 according to Newzoo

Newzoo, the firm that predicts all things eSports, has released a new report that states the eSports economy will break $1.5 billion by 2020. 

The report suggests that this year alone revenue in eSports will hit $696 million, with further brand investment pushing the economy to $1.5 billion in three years time. 

In fact brand investment seems to be the driving force behind eSports’ financial growth. It was apparently responsible for around three quarters of revenue in the esports economy last year. 

As you may expect North America is where the big buck are, with the region expected to make $257 million this year. That figure is expected to become $607 million by 2020 with more big US brands getting involved. 

"Esports is not only growing exponentially as a new independent business and industry, it is also accelerating the convergence of various established industries," said Newzoo CEO, Peter Warman. "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."

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