50 colleges have even involved in the action of eSports programs, recognized by a governing body known as the National Association of Collegiate Esports (NACE) whose championships invested thousands of dollars in prize money to put in scholarships for the winners.
Where’s the money in eSports?
According to recent research, eSports revenue will surpass $1 billion worldwide in 2019. Such a lucrative market, for the players, brands as well as video game producers. Madden 19, the game played at the tournament in Jacksonville, is a part of the EA Madden Franchise. Since its appearance nearly 30 years ago, the EA Madden Franchise has sold over 130 million units, earning more than $4 billion in revenue.
eSports players, in tournaments can bring in millions of dollars in prize money, which is typically divided between the players on the winning teams. That means the world’s best players can easily earn seven figures income annually. Team members and event organizers also benefit from tickets sales for these competitions, especially the League of Legends tournament in 2017 generated $5.5 million in ticket sales. However, after the tournament, EA Sports canceled the three other Madden Classic qualifier events to check the safety protocols for competition to ensure safety for competitors and spectators, based on information from a newly release issued by the gaming company.
Players also make money from sponsorships, endorsements and league salaries that brands is reported to invest up to $700 million in eSports ventures.
According to the reported figures and the seemingly unstoppable cultural momentum, eSports will continue to develop as a lucrative industry — and a recreational activity — for the upcoming future. By the end of 2018, 1.8 billion people will know about eSports — that’s more than one fourth of the entire world’s population. So, till now you are probably know about eSport. But, if you haven’t heard much about eSports yet, give it some time. Its growing speed, both globally and culturally, is inevitable.