Sport
Esports Market Size Worth $6.82 Billion by 2027 | CAGR: 24.4%: Grand View Research, Inc.
https://www.grandviewresearch.com/industry-analysis/esports-market
The popular streaming platforms, such as Twitch has propelled the gaming and Esports toward the mainstream. The Esports tournaments have drawn the attention of celebrities and athletes, which can attract a large audience. Moreover, these sports possess a unique capability to capture young and enthusiastic viewers who are difficult to reach via traditional media. Such capability has created sizeable opportunities for brands to invest in advertising and sponsorships, thereby propelling the market growth. Investors' interest is likely to increase with the introduction of the more franchise-style league, the centralization of an Esports team, and continued rise in audience. Moreover, the companies are trying to monetize the rising level of interest through various sources.
Apart from sponsorship, the merchandise and ticket sales are integral revenue streams driving the industry growth. The franchisee is embarking on the new sports model that includes city-based teams hosting local events with thousands of fans' attendance in the stadium. Such events are significantly generating revenues, thereby contributing to the market growth. The Esports apparel market has experienced significant growth in recent years owing to increased retail presence, growing fanbase and league-level merchandise deals. As the teams can individually sell their merchandise to their fans, Esports teams no longer need to rely on winning competition and prize money as a core revenue source. Recently, in 2019 Team Liquid, a Netherland based multi-regional Esports organization, partnered with Marvel Entertainment to offer superhero-themed merchandise including jerseys and t-shirts.
Digital Media Industry
Grand View Compass
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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