The health crisis is hampering the holding of physical events which represent a large part of the revenue.
This was to be a very big year for esports. According to the research firm Newzoo, the industry would have had to beat all records by generating $ 1.1 billion of revenue in 2020. In the margin of OJ, a session of the exhibition was even scheduled, in order to help the public get acquainted, and who knows how to prepare for an arrival at the next olympic competitions.
But the pandemic of Covid-19 has since gone by there and have a shower of hope. The request and the hearings webs for esports are closer than ever to the appointments, but the sector has, however, extensively reviewed its ambitions downward for the current year. Thus, analysts at Newzoo expect now 973,9 million of income for 2020, it is certainly better than the 950 million of 2019, but we still remain far short of the forecasts.
China is the biggest market of esports
This slowdown is clearly due to the health crisis, which obliges the organisers to postpone or cancel events physical. They generate the bulk of the revenues of the esport. Officials are attempting to organize events to a digital format which must be regional to ensure connection to the correct level. It is also more difficult to convince sponsors to invest in these virtual competitions. They prefer to participate in rallies in large enclosures where the fervor was more palpable.
Newzoo, however, retains a certain optimism for the sector, and anticipates global revenues of 1,194 billion for 2021. The experts, however, remain very attentive to the situation that is evolving day by day, which makes forecasting very complicated.
It will also follow with attention the developments in China which is the biggest market of esport in the world. While he already weighs close to 400 million dollars today, the latter could rise to 540 million by 2023.
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