The eSports industry is growing fast among young people. According to the video game intelligence company, Newzoo over 78% of eSports enthusiasts are young people aged 35 years and below. Some of the leading companies in the industry in Canada include New Wave Esports (OTCMKTS:TRMND), Enthusiast Gaming (OTCMKTS:ENGMF) and Axion Ventures (OTCMKTS:AXNVF) among others.
eSports sponsorship revenue keeps growing
There is a lot of potential in the eSports sector and Newzoo predicts that global revenue from the industry will hit around $1.1 billion this year. The eSports audience is growing fast especially for popular games such as League of Legends. Last year the game’s audience averaged 19.6 million with the tournament attracting over 99.6 million viewers last year on digital platforms and television.
Most of the industry’s revenue comes from sponsorships, advertisements, tournaments and media rights. Sponsorships are the biggest source and a game such as League of Legends has sponsors including Red Bull, MasterCard, State Farm, and Alienware. Similarly, the games have continued to receive massive coverage where the live events are used to increase exposure to sponsors.
Various companies are positioning themselves in the market ready to explore the opportunities in the eSports industry. For instance, New Wave Esports which recently listed on the CSE is providing consultancy and capital support to various eSports teams, events, and organizations across the globe.
The company announced recently that it was engaging Bull Market Media to boost its capital markets presence. The media company will enhance its coverage in Europe as well as help in investor relations related to the listing on the Frankfurt exchange.
eSports Associations introduce gaming principles
As eSports continues to grow industry representatives from across the world have come up with a “unifying set of principles for eSports engagement.” This is a list of rules that different eSports bodies across the world including Canada have agreed on. The principles aim to enable players to actively take part in the game in a positive and inspiring way. In a joint statement, the eSports associations indicated that they created the guiding principles to enhance the gaming space and ensure it is fair, engaging and fun.
The universal principles include the safety and wellbeing of the eSports community free of any threats. Equally, they emphasize fair play and integrity where players do not engage in deceitful, dishonest or disrespectful behaviors. The other principles also insist on respect and diversity as well as enriching and positive gameplay.
Esports looking to attract female players
The industry is looking to boost its audience and eSports agency Counter Logic Gaming is targeting female participants. The organization recently appointed Stephanie Harvey as the franchised development and outreach director. Stephanie is a known eSports legend who will use her skills to encourage female participants to join the sport. She will help in influencing the eSports programming to be inclusive.
There are few female players in the industry and the Canadian CSGO player sees this as an opportunity to support female players. She has been a designer as Ubisoft (OTCMKTS:UBSFY) and held a coaching role at Livid Gaming.
