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read moreWhile may sectors have struggled during the Coronavirus pandemic, a new report from global consultants PwC has shown that the gaming and esports sector has prospered this year with the market expected to grow 7% each year over the next four years.
PwC’s newly released Australian Media and Entertainment Outlook report forecasts that the interactive gaming and esports market will grow from $3.18 billion in 2019 by a 6.87% CAGR to 2024, based on a midpoint scenario.
This growth is driven largely by app-based games and esports, with mobile gaming revenue accounting for 31.7% of total video games consumer revenue in 2019.
The report advises “higher smartphone ownership (though this market is now essentially saturated), more capable devices, and better monetisation strategies have all contributed to greatly increased revenue from mobile games, but the phase of rapid expansion is coming to an end.”
Australia’s esport revenue was $5 billion in 2019, up from $1 billion in 2015, and is forecast to reach $8 billion by 2024. Esports became increasingly popular during the pandemic as an alternative to in-person events, with livestreams such as the V8 Supercars All Stars Eseries.
Click here to view the Australian Media and Entertainment Outlook report.
19th November 2020 - Australia Sports Tech Conference set to be highpoint of virtual Sports Technology Week
25th September 2020 - City of Wagga Wagga launches inaugural inter-city esports challenge
20th August 2020 - Monash University to support student eSports gaming
18th July 2020 - Eden Park to become New Zealand’s home of esports
3rd May 2020 - Five people charged in esports investigation
1st April 2020 - KONKA announces partnership with esports media company
13th March 2020 - Australia’s largest esports arena opens in Melbourne
13th March 2020 - 2020 Sports Technology Awards recognises MotoGP eSport Championship
11th March 2020 - Seven Network partners with esports media company
28th January 2020 - Vodafone New Zealand sponsors esports events across Australasia
15th January 2020 - Belgravia Leisure and the Gamer Academy combine to deliver esports and education program
24th December 2019 - Fortnite esport event returns to Australian Open
7th December 2019 - Olympic Summit encourages international sporting bodies to explore esport opportunities
10th October 2019 - Hockey Australia looks to increase efficiency with revolutioniseSPORT partnership
16th September 2019 - NRL partners with esports media company to evolve Grand Final week
9th September 2019 - Fortress Esports announces plans to develop Southern Hemisphere’s largest esports venue in Melbourne
30th August 2019 - MotoGP eSport continues to expand
15th August 2019 - Gfinity Esports Australia to close
2nd August 2019 - Money In Esports Summit coming to Sydney
27th June 2019 - China esports market value to hit US$1.9 billion this year
31st May 2019 - New guide explores the future of esports venues
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