SGL is an innovative and progressive lifestyle, leisure and community consulting practice, operated by Phillip Gray and active since 1988. SGL has undertaken an extensive range of sport,…read more
China esports market value to hit US$1.9 billion this year
The Chinese domestic esports audience is tipped to hit 350 million participants with revenues to reach US$1.9 billion this year, according to a report by Tencent’s Penguin Intelligence.
The revenue figure represents income generated by tournaments, sponsorship, media rights, and money earned by teams and players. Prize pools for some esports competitions in China are hitting more than US$25.5 million.
Commenting on the findings, Wang Xu, Chief Analyst at gaming database Gamma Data Corp. told China Daily "there is still plenty of room for growth in esports players and viewers. With more gaming firms tapping into the esports sector, a growing number of key tournaments have been held by brands in China, and gained huge followings among netizens.”
Major cities in China, including Hainan, Shanghai, Chongqing, Xi’an in Shaanxi and Hangzhou in Zhejiang, are investing in esports infrastructure to encourage the growing industry. Hainan recently announced a one-billion-yuan fund to promote the development of its local esports sector, which will be used to support esports-related firms and to help host tournaments. Shanghai has also announced a desire to be a global esports hub within three-to-five years.
31st May 2019 - New guide explores the future of esports venues
14th April 2019 - Chinese eSports market to grow US$3 billion by 2020
19th February 2019 - Telstra to explain rise of esports at SPORTELAsia convention
6th February 2019 - New Hong Kong eSports facility seen as boost for city economy
16th November 2018 - New research shows increasing professionalism in eSports
18th April 2018 - Dubai announces plans to develop dedicated eSports stadium
6th September 2017 - TEG Analytics and TEG Rewards shine light on growth in eSports
28th April 2017 - Asian Games 2022 to feature eSports events
2nd March 2017 - Chinese eSports players generate US$730 million in revenue
13th November 2016 - LeSports Connect to present insights into sports business in China
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