With annual revenue growth in excess of 25%, the global esports market is predicted to exceed 1.6 billion U.S. dollars by 2024. Esports is a spectator sport with estimated global audiences of between 300 million and 700 million.
With huge growth each year, esports is on track to soon reach over 1 billion global viewers. These huge audiences are making esports media rights incredibly valuable. Approximately four fifths of esports revenue comes from media rights, advertising and sponsorship, with the remainder coming from advertising, merchandising, tickets and prizes.
Esports players are a new generation of international role models that embody teamwork, dedication and sportsmanship. Advertisers and sponsors are flooding esports with prize money, bigger tournaments and sponsorship so that they can connect with Generation Z.
Competitive esports also has no language or geographic barriers to growth. All esports games are played in most nations, with no limitation to teams expanding into international markets and tournaments. Esports empowers people to participate in the collective experience of competitive esports regardless of their background or position in life.
As the global esports economy grows into maturity, we expect to see growth in leagues and franchising; profitable esports teams, new game and competition formats, uptake of the media rights trade, industry convergence and even some M&A. Rewired.GG uses this chain reaction of rapid progression to deliver exponential growth.
We have invested €50 millions leading European esports brand Team Vitality