E-Sport’s main event is expected to bring $1 billion in revenue, specifically tailoring its experience around one of the world’s most popular video games. The game is called League of Legends, and most people can think of the game as a “capture the flag” type game.
The bodies behind the operation have done everything down to creating a trophy for the contest, which will attract hundreds of thousands in all to watch teams, who mostly consist of professional players, who are all individually paid as well by their own respective sponsors.
Many though wonder how this market came to be, or what it bloomed out of. The truth is that this market has existed for years, but only recently has been tapped into. One of the founders of the event compared it to a car enthusiast spending thousands on a car to have a select upgrade, or have a vehicle that is highly sought after. When push comes to shove, the customer base for this concept was there all along.
Over the last 10 years the video game industry went from one that was focused on individual players, and expanded to appealing to mass populations. The games were made interactive, and were made to focus on team orientation, and objectives – eventually making the multiplayer aspect of the games the most important portion of gaming experience.
Now, thousands of recreational gamers, and enthusiasts will cram into large stadiums like the Staples Center in Los Angeles to watch major gaming competitions take place around games like League of Legends. Millions of dollars in prize money, hundreds of thousands of dollars in tickets, and sponsorship dollars for the massive droves of individuals that are moving and embracing this industry.
For this particular event, the trophy will weigh a cool 70lbs and will need approximately 5 people to hoist it into the air. Luckily, this event will feature teams. However, it’s clear that while many have written of the gaming industry in recent years, the focus is clearly in the arena of community gaming, and virtual gaming in large groups with mass numbers of spectators.
Websites have already been launched in this space of the tech world, but this event is just the latest to attempt to exploit the revenue streams that await in this market.