The above released their 2019 Global Esports Market Report this week, and it also projects that $409.1 million will be worked up by North America while China will be responsible for $210.3 million.
Newzoo reports that 82 percent of total revenue ($897 million) will come from brand investments such as media rights, advertising, and sponsorships. It is also expected that the number will reach $1.5 billion by the year 2022, marking a five percent increase.
Viewership is also expected to rise as the report claims that the total esports audience will reach 453.8 million by this year, with 201.2 million of that audience referred to as "Esports Enthusiasts," a term Newzoo uses to describe a person who watches professional esports content more than once a month.
Asia-Pacific is set to boast 57 percent of all Esports Enthusiasts in 2019 while Europe will house 16 percent and North America will account for 12 percent. It is also projected that the average revenue per Esports Enthusiast on a global scale will be $5.45.
Per Newzoo CEO Peter Warman, big-name brands are beginning to invest heavily in the industry.
“This is not experimental budgets. This is for the long term, and it’s good amounts of money,” he revealed. “It’s what the ecosystem needed and what investors wanted to see.”
Activision Blizzard Inc's Overwatch League naming Coca-Cola as their official global beverage sponsor for non-alcoholic drinks serves as a chief example. The developer has also signed sponsorship deals with Toyota Motor Corp, HP Inc, Intel Corp, and T-Mobile US Inc.
In addition, merchandise and ticket sales should rise 22 percent to almost $104 million but game publisher fees should experience a three percent drop which would take the total sum to $95 million.
The report also shows that total esports revenue went up 32 percent year-over-year, with 2018's haul standing at $865 million, thanks to the audience having grown to 395 million viewers, a 17 percent increase from 2017. Esports Enthusiasts made up 173 million of that figure.
Prize money reached $150 million last year, a significant hike, given 2017's $112.1 million raking.
The esports industry has taken several huge strides over the last few years and things continue to improve. As of this month, Riot Games will introduce a new League of Legends regional European championship to the United Kingdom, with the UK League Championship set to team up with the esports organization, LVP, to present seven-week championship events over the spring and summer.