With the increased use of the internet and easy access to technology, esports has gained a lot of popularity over the years, and it has started to give serious competition to traditional sports. The majority of gaming enthusiasts enjoy live video game streaming on Twitch, therefore, Twitch streamers find it an incredible platform to impress their viewers with exceptional gaming skills and get Twitch followers rapidly in order to expand their audience.
Now, the question is whether Esports can compete with traditional sports or not. Keep reading this article to know!
What Is Esports?
Esports, also called electronic sports, allow single or multi-players to compete against each other in leagues or championships for a prize pool.
As the most-watched live game streaming platform is Twitch followed by YouTube and Facebook. League of Legends has over 49 billion views of all-time on Twitch. Other most popular video games are Fortnite, Grand Theft Auto V, Counter-Strike: Global Offensive, and DOTA 2.
Today’s generation is more interested in knowing their favorite video game players’ kill ratios and other important stats, so they can also imitate their techniques for a successful gaming career.
Esports Market and Audience Overview
According to Statista, the eSports market size was just below 1 billion dollars in the year 2020, and this figure is predicted to reach a whopping 2.89 billion dollars in 2025.
With an upward trend like this, it is quite evident that the eSports audience and market size are increasing with each passing year which means more competition for traditional sports.
Esports has gained a lot of popularity in Asia, followed by Europe. Considering the interests of eSports viewers in mind, FIFA organizes the FIFAe World Cup every year.
Esports’ Sources of Revenue
Esports players and event organizers earn plenty of money through different sources. More than 50% of revenue comes from sponsorships, so it can be said that this is the main source of income for them.
The other sources of revenue are media rights, publisher fees, tickets and merchandise, and streaming.
What Makes Esports So Popular?
Esports are able to compete with traditional sports, and they are quite popular all over the world due to the following reasons:
Mind-Blowing Prize Pools
Esports players can make a lot of money by playing and winning championships. Age doesn’t matter, it’s the gaming skills that count.
For instance, DOTA’s 2021 championship was held in Romania, and a prize pool of more than 40 million US dollars was announced. This is not even comparable to what the winners of the Super Bowl earn.
Even if you’re physically disabled, you can compete in Esports events and win millions of dollars with your gaming skills.
As this can be a major barrier in traditional sports, Esports players are not judged on the basis of their physical strength but on their mental strength. So, it gives everyone an equal chance to compete.
The premium quality of tournament streams along with professional commentators makes the experience of watching finals or even matches online the same as watching traditional sports matches.
Therefore, people take more interest in esports tournaments and different game developers arrange respective eSports leagues to build on gaming popularity.