The esports industry is spearheaded by several prominent titles, such as Dota 2, Fortnite and Call of Duty.
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In recent years, the esports industry has exponentially increased in popularity, expanding and proliferating as technology has systematically advanced. As a result, innumerable esports enthusiasts are eagerly anticipating what developments will transpire in 2023 in this sector, particularly as a profitable business model. Arguably, 2022 was a slower year in terms of growth, with several significant organizational closures and job cuts. With an uptick in popularity predicted by many top esports executives, this article presents an overview.
After a slow year in 2022, esports is becoming more popular. This is heavily influenced by the expansion of other means of betting – including sportsbooks, online casinos and myriad betting apps. As markets recover and settle, the global online gambling market expected to grow in value from $81.08 billion in 2022 to $88.65 billion in 2023. Online sportsbooks are now accommodating a plethora of new offerings, such as PointsBet’s unique Ohio app and other cutting-edge smartphone possibilities. Moreover, innumerable new online casinos are increasing their user base as online gambling becomes more convenient. This is being realized through the ubiquity of smartphones that increases adaptability to hectic daily schedules. Ultimately, if the betting industry is healthy, this positively impacts esports, with more income generated through sponsorship deals, advertizing and bettors diversifying from “traditional” means to disparate industries (such as esports).
Regardless of positivity for 2023, many decision-makers in the esports industry are wary of what the future will hold. This was recently spectated by Stuart Saw, CEO and Co-Founder of RTS (Real-time strategy), who claimed that the last recession was extremely damaging for esports and the prospect of another could damage recent progress. Nicolas Maurer, CEO of Team Vitality recently claimed that accessing capital is becoming more problematic for developers – this is a pertinent issue as not all esports teams are considered profitable. However, it is hoped by many that attitudes such as these are merely precautionary and that the esports industry will rebound significantly and build over the next decade.
Team Liquid’s Senior Vice President of Brand, Content and Marketing, Josie Brown, mentioned recently that many brands are building enough influence and becoming “stars” in themselves. This is an intriguing development as it can facilitate teams and other esports players to develop new ventures and business models. While the full implications of this are currently unknown, this hints at considerable unrealized potential for impressive new avenues for offerings.
Admittedly, women are underrepresented in esports in 2023. However, the industry has acknowledged this – Josie Brown of Team Liquid considers that influential women are increasing in esports, albeit with room for improvement and growth. One of the most prominent esports highlights of 2022 was Team Liquid’s VALORANT team successes – a women-only team from Brazil. This encouraged the company to make future collaborative plans with more female content creators and nurture female talent in the process.
The esports industry is spearheaded by several prominent titles, such as Dota 2, Fortnite and Call of Duty. However, new and cutting-edge esports-friendly titles are beginning to increase monthly, with many anticipated to become significant additions to the esports catalog. This can be witnessed through mobile games that are increasing in popularity, with viewership projections reaching 45% by 2025.
In conclusion, despite 2023 anticipated to be a strong year for esports, there are many challenges. Recent global economic impacts have resulted in a slow recovery; as Nicolas Maurer of Team Vitality recently stated: “2023 may be the age of maturity for eSports organisations.” Regardless of the risks involved, many in the esports industry remain confident of a financial rebound, with viewership expected to reach 646 million worldwide. As the betting industry increases in popularity, many esports enthusiasts are optimistic that this will positively impact esports and stimulate growth over the next decade.
