Investors Flock To Growing eSports Gaming Market
According to an article by Business Insider, the eSports video gaming market is booming, and attracting investors at a major rate. While eSports used to consist of a community of gamers gathering at conventions to play in tournaments in promotion of select video game titles, today media giants such as ESPN and Turner are broadcasting eSports competitions worldwide. In 2014, Amazon acquired Twitch, the live streaming video platform that continues to be the leader in online gaming broadcasts, prompting YouTube to get into the live streaming gaming community as well, with YouTube Gaming. And today’s eSports landscape features an official network of pro gaming tournaments and leagues with legitimate teams, many of which are sponsored and have an international reach. To get a sense of the scope of it all, consider that a prize pool for the latest Dota 2 tournament was more than $20 million. And financial institutions are starting to take notice, with Goldman Sachs valuing eSports at $500 million in 2016, and forecasting the market growth at 22% annually, which compounded over the next three years means that investors today could get in on what will eventually become a $1 billion market.
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