The Esports Industry Set to Reach USD 1,6 Billion in Revenue by 2023

The Esports Industry Set to Reach USD 1,6 Billion in Revenue by 2023

According to a report by Betenemy, the esports industry is set to reach USD 1,6 billion in revenue by 2023.

2020 was not a good year for most businesses around the world. Some people thought that the pandemic wouldn’t harm the esports industry, but this wasn’t the case.

Even though the esports sector is doing significantly better than others, the revenue for 2020 is USD 950,000,000, which means it’s around USD 7,000,000 less than in 2019. The reason behind this difference is in the postponed tournaments, especially in Dota 2. Since this is the esport tournament with the largest prize pool, even the slightest changes have a negative effect on the industry.

The International 9 event in 2019 reached a jaw-dropping amount of more than USD 34,000,000. Although The International 10 (TI10) was postponed for 2021, it still managed to accumulate more than USD 40,000,000, making it the biggest esports tournament in terms of prize pool ever. TI10 will bring massive attention to the esports scene and will help this industry grow even more.

Apart from Dota 2, Fortnite and League of Legends also have pretty impressive events with prize pools that reach millions of dollars. There are many more games that will be classified as esports soon, some of which will probably become even more popular than the current ones.

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