There has been a rise in the number of people watching esports globally, however, the pandemic pushed that number up, as millions of people were indoors due to restrictions on movement initiated by governments.
According to SafeBettingSites.com, the eSports audience would grow to 474 million, which represents an increase of 20 percent since the pandemic hit last year.
It is estimated that the audience would continue to grow, as it is projected that by 2024, the number of eSports viewers would grow to 577 million.
45% Growth in Five Years
As millions sat at home due to lockdowns, people have turned to eSports and gaming, as the popularity of both grew significantly.
Data from Newzoo showed that eSports grew by 38 million in 2020 alone, making the total number of eSports audience hit 435.9 million in the same period.
More than half of that number identify as eSports enthusiasts, but the number is expected to double in the coming years.
The growth of eSports enthusiasts is projected to grow from 234 million to 285.7 million by 2024, representing a 45 percent increase.
In the case of occasional eSports viewers, Newzoo data showed that the number is set to grow to 240 million in 2021, which is 40 percent from the last two years.
However, that figure is expected to increase to 291 million, representing a 45 percent growth, by 2024.
READ ALSO: Nigerian Firm To Receive $20m From IFC For Off-Grid Power Service
Esports Revenue Growth
In 2020 electronic sports saw a drop of 0.8 percent year-on-year ($950.3 million) due to cancellation of events brought about by the pandemic.
The above figure is estimated to jump to $1 billion in 2021.
Data showed that eSports expect sponsorships totalling $641 million in 2021, a rise from the previous year’s $584.1 million.
Media rights are expected to see an 18 percent growth year-on-year to $192.6 million in 2021 against the $163.3 million recorded in 2020.
Digital revenues are projected to see more impressive growth in 2021 by 50 percent to $32.3 million.
Estimates put the revenues of eSports to grow by another 50 percent to $1.6 billion in value by 2024.
