The esports industry is rapidly growing across the globe and could soon be a billion-dollar industry. Estimates indicate that by 2022 the industry could reach $1.79 billion globally growing at an annual rate of around 22.3%.
Esports industry could hit $1.1 billion in 2019
According to a Newzoo report, global revenues in esports and egaming could hit $1.1 billion this year which is a 27% increase from last year. There is growing revenue from media rights, sponsorships, advertising, and competitive gaming. Sponsorships account for a large share of the revenue and contributed $458 million last year.
Canada is among the leading countries where there is significant growth in the industry. Canadians are taking the esports gaming industry serious that in the summer this year they launched a professional gaming stadium in British Colombia. Soon esports could be a mainstream sport as adoption continues to increase. Major players in the Canadian industry include Enthusiast Gaming Holdings Inc. (OTCMKTS: EGHIF), Axion Ventures Inc. (OTCMKTS: AXNVF), and New Wave Esports (OTCMKTS: TRMND).
New Wave Esports lists on Canadian Securities Exchange
New Wave Esports is the latest esports company to trade on the Canadian Securities Exchange following a merger with Trueclaim Exploration. The acquisition, technology and investment company trades on the CSE as “NWES”.
The company focuses on the competitive gaming and esports industry by supporting teams, events, leagues, esports organizations as well as tech firms. It invests ort acquires companies focused on esports to optimize their operations as well as increase profitability. Equally the company also offers advisory services to companies and in return receive additional options or equity.
Its portfolio includes Even Matchup Gaming an events company, Esports organization Tiidal Gaming the owner of esports team Lazarus. The company also has investments in betting platform PlayLine as well as software and tech company Thunderbolt CDG.
Mars Hill University to Launch its esports team in 2020
The rapid growth of the esports industry is attracting players from all sections. More teams are joining the craze and the latest to join is Mars Hill University. The university has indicated that it will include esports in its roster and its team will start participating as from fall next year. Rick Baker the varsity athletic director indicates that they will have a team of 12-student participants.
Baker stated that the esports industry is a sport that is rapidly growing in North America. He added that Mars Hill was glad to introduce the game in the university’s program. Baker further indicated that esports has a huge fan base and it will provide Mars Hill students with a popular engagement opportunity.
Currently, Mars Hill is searching for a head coach for its esports team. It is equally developing a computer lab for competitions at Wren Student union. The university will compete against other universities and colleges at all levels in leading games like “League of Legends.” According to Baker, the coach will also pick other games that the team will be competing in.