In 2021, the global esports market was valued at over $1.08 billion, representing an increase of almost 50% from 2020 . There is a degree of optimism in the industry that 2022 will be just as fruitful, with some analysts even predicting that global revenues will reach $1.62 billion in 2024. It sounds like an achievable goal, but for that to happen, now is not the time. moment. for the eSports market to capitalize on its recent successes. Indeed, in 2022, the industry will need to push boundaries and open new doors if it wants to stay on top of its game, and in this article, we’ll explore some of the ways it can do that. that.
More investment in celebrities and athletes
Sponsorships and advertising are the biggest sources of revenue in the esports industry, bringing in a combined $641 million in 2021, so there should be more celebrity participation and investment in the market in 2022. That’s not it. it is an impossible goal, considering that we know several high nets. Valuable individuals and athletes are already involved in the industry. For example, the likes of Mike Tyson, Drake and Shaquille O’Neal have invested in esports as the market pushes further into mainstream media.
Greater participation of unconventional industries
The live sports business has attracted various unconventional industries due to its growth and popularity. Streaming services like Amazon and Twitchthey’re behind the transition we’re seeing where live sports is increasingly locked behind a paywall, so it wouldn’t be surprising to see these companies move into eSports as well. Eyes are obviously on the global sports market and it’s hard to ignore the dominating presence of esports. Furthermore, companies that are reluctant to enter esports do not have to look far for an example of how a foreign company can successfully enter the sector. For example, in 2019, Louis Vuitton designed the trophy case for the League of Legends eSports Championship.
More incentives for the user
While the popularity of esports next year will come down to outside participation, there are actions esports operators can take to help increase the appeal of the industry and its platforms for themselves. Reward incentives and loyalty programs are some of the best ways to attract and retain users, and it’s something we see many entertainment sites doing. In fact, these incentives could be why DraftKings is one of the most well-known fantasy eSports platforms.
According to review site Casino Smash, DraftKings has grown from a Daily Fantasy Sports (DFS) site to a multifaceted casino and sports betting platform in just nine years. In part, this is because DraftKings has several famous faces associated with its brand, including Michael Jordan, who has an equity stake in the company. However, it is also because the various DraftKings promo codes on offer have been enough to incentivize eSports players and sports bettors to use this platform for the first time or keep coming back to it. These promotions continue to drive traffic not only to DraftKings but to the entire esports market.
The esports market has been profitable for the last few years, but this can be dangerous because we don’t want the industry to feel comfortable. That’s when the competition will creep up, so it’s essential that in 2022, the esports industry continues to grow and innovate. Fortunately, there are many ways to ensure this.