2024 is proving to be yet another solid year for the Esports industry. As per the numbers presented by NoKyc.com, the Esports industry is set to make $1.81 billion in revenue in 2024. Overall, the industry is set to grow by more than 11% on a year-on-year basis.
Annual revenue set to grow up to $2.34 billion by 2028
The future for the Esports industry looks bright, and 2024 is set to be an especially promising year. This year marks the first World Cup for the Esports community. Moreover, the industry is anticipated to experience significant growth throughout 2024.
As per the latest Statista Market report, the Esports industry is set to make $1.81 billion in revenue this year. The amount represents an 11.04% increase on the $1.63 billion that the industry made in 2023.
The industry has fully recovered from the effects of the pandemic. This healthy rate of growth in the industry is expected to continue in the coming years. The annual revenue is set to grow by another 9.4%, to $1.98 billion, in 2025. The industry’s annual revenue is expected to exceed $2 billion in 2026. This landmark moment is expected to come five years after 2021, when the industry crossed the first Billion in annual revenues for the first time.
If we look further into the future, the report claims that the Esports industry will touch $2.34 billion by 2028.
Sponsorship and advertising contribute more than half of revenue
When we look at the distribution of revenues throughout the years, it is evident that the major income in the industry comes from sponsorships and advertising.
In 2024, the industry is set to make $0.98 billion from sponsorships and advertising. This amount equates to 54.1% of the entire annual revenue.
Media Rights are expected to bring in another $0.32 in revenues, making up 17.7% of the overall figure. Merchandise and Ticketing is expected to contribute a further $0.24 billion (13.3%).
Streaming earnings worth $0.13 billion (7.2%) and Publisher Fees worth $0.14 billion (7.7%) make up the rest of the revenue in 2024.
