Newzoo expects the esports industry to have more than $1 billion in revenue for 2021 with additional growth in media rights and the live streaming market, according to its Global Esports and Live Streaming Market Report.
The projected $1,084 billion mark this year would mean more than a 14-percent growth for the esports industry, which saw $947,1 million in revenue in 2020.
More than 75 percent of the projected revenue for esports, $833,6 million to be exact, is from media rights and sponsorships, according to Newzoo. Meanwhile, live streaming is projected to grow by 10 percent.
Though Newzoo anticipates that there will be audience growth in streaming this year, the firm added that it expects stabilization once the pandemic subsides. Newzoo has similar expectations for the esports-specific audience as well.