Esports is a fast-growing industry and it has done very well in Europe, both in revenue and viewership. The total esports market in Europe is expected to grow by 23% from 2019 to 2023. It may even be worth £670 million by 2023. Finland appears to be doing especially well in European esports. While Finnish fans do not always attend live events, many still watch them.
Esports in Europe
The most popular gaming brands in Europe include League of Legends, Call of Duty, and FIFA. The biggest contributors to this growth include sponsorships and advertising. Various brands have shifted their focus to develop esports that suit young generations. Media rights have also increased in the market, hence propelling it forward. Keep reading to learn more about esports in Europe and why it grew so fast.
Increased Involvement of Brands
The involvement of big brands in the European esports market has contributed to the growth of the industry. These brands have realized the potential of the market and are investing in it to earn revenue. The most promising startups in the European market include RFRSH Entertainment, RTSmunity, DOJO Madness, and Streaker.
RFRSH Entertainment is a media rights company that works with some of Europe’s best teams. It works with teams that are just starting up as well as the best ones. RFRSH Entertainment was founded in 2016 and offers marketing and commercial strategies to companies that may look to enter the esports world.
Streaker is an extension of Twitch that promotes in-game voting. The results may contribute to a bonus where the main goal is to get a higher streak than other viewers. Voting is a great way of interacting with the game.
DOJO Madness was founded in 2014 and has become a major contributor to the success of the industry. The big data company creates tools and services to help fans and players understand their favorite games better. These companies have been doing really well in Finland where esports is huge. The titles are covered by some of the biggest networks in the world.
Growth in Tournaments
There has been significant and clear growth in esports tournaments across Europe, from the UK and Germany to Finland and Sweden. Esports is particularly huge in Finland, and lots of online casinos even provide it as a betting market. Popularity aside, tournament prizes have improved as well. Although COVID-19 might have caused a drop in tournament prizes and numbers, they were on a steady rise.
The biggest leagues and tournaments in the European industry include Amazon University esports, Arena of Valor World Cup, and Call of Duty League. The European Esports Gaming (EEG) also awarded over £30,000 in its first three years of operation. It is one of the bodies that contributed to the growth of the industry, giving players and organizations the chance to show how they can contribute to the European scene.
Increase in Live Coverage Platforms
Esports events and videos have become more popular following the increase in online platforms that cover them live. Esports content is readily accessible and fans can watch or participate in their favorite ones conveniently. They can engage with their favorite athletes at the click of a button.
Esports streamers today also have amazing gameplay. Even though the platforms are not always relevant to the industry, many of them make up a significant part of it. When fans know that they can take part in their favorite events, they are likely to be more engaged.
Twitch remains one of the most popular streaming platforms on the continent. Other great options include Facebook Gaming and YouTube Gaming.
Increased Awareness
More people have become aware of esports and all it entails. Since 2015, there has been an incredible rise in its awareness. Back then, the industry was relatively small. Today, hundreds of millions of people identify as esports fans.
According to Newzoo, the global awareness of esports hit 2 billion by 2020. Increased awareness translates to increased viewership and bigger profits for brands. Esports marketing has made it possible for brands to reach and engage wider markets.
Increase in Watching Time
Esports audiences today watch more 7.46 billion hours of content from live-streaming platforms. Their willingness to spend more time watching esports has contributed to the growth of the industry in Europe. Even though they did not spend much time watching esports in 2020, the numbers on YouTube gaming and other live-streaming platforms have been promising.
Despite a slight drop in viewing hours, it is still a major improvement from the past few years. Since consumers spend so much time on esports, brands have no choice but to give them what they want. They use influencer marketing, reviews, and ads to create more awareness and improve watch time.
Increased Viewership
Over the recent past, the viewership of esports has increased significantly. The numbers have gone high for both the enthusiastic and occasional viewers. In the period between 2018 and 2019, the number went up by 12.3%.
In 2019, Europe already had millions of viewers. Although the numbers dropped slightly in 2020, they have picked up and are expected to keep improving over the years. The decline in 2020 was mostly caused by COVID-19 shutdowns. Many events were canceled and there wasn’t much for esports lovers to watch.
According to a report by Newzoo, the European esports audience hit 92 million in 2020. In 2018, it was only 72 million. The increase in viewership can be attributed to the growing number of viewing platforms. YouTube and Twitch are some of the most popular viewing platforms on the continent.
Broader Media Coverage
Increased media coverage has made it possible for esports to compete effectively with traditional options like soccer and basketball. The opportunities for effective competition are presented in a few main areas: advertising, ticketing and merchandise, media rights and streaming, sponsorships, and game publisher fees.
Increased media coverage has improved awareness about esports in Europe and increases the revenue from esports. This revenue includes what is paid to leagues, teams, and event organizers. It may also include the fees for premium content, the sale of tickets, caps, chairs, and jerseys. Game publishers also pay revenue to independent event organizers.
Written by Esportz Network
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