According to a recent article by The United Business Journal, the number of esports viewers is expected to grow to 29.6 million people this year. This would signify an 11.5% increase from 2021.
The United Business Journal goes on to say that the esports industry will break the $1 billion threshold this year. Additionally, Newzoo said revenues will reach $1.8 billion in the industry. Sponsorships and advertising will reportedly account for 69% of these revenues in 2022.
“Esports revenue and investment have grown exponentially due to pop culture embracing the industry,” reads The United Business Journal article. “Several factors have contributed to its meteoric rise, including live streaming and games with social components. In addition to gaming-specific streaming platforms, such as Twitch and YouTube Gaming, fans have access to more mainstream social media platforms that have permitted these relationships to flourish. A number of esports organizations, including FaZe Clan, have also made aggressive forays into merchandise, giving their brands greater exposure than if they had solely focused on esports.”
(All information was provided by The United Business Journal)