The Evolution Of The eSports: What It Means To Organizations And Communities.

The esports industry has witnessed a remarkable evolution over the years, transforming from a niche pastime into a global phenomenon that captivates millions. This evolution has had a profound impact on both organizations and communities, reshaping the way we perceive competitive gaming and creating new opportunities. Overtime, I have become enamored by the huge transformation and impact esports is having in so many ways, which is why it is important for organizations to start embracing the exponential benefits it portends.

Many people have been dumbfounded by the meteoric growth of eSports. Globally, more than 2.7 billion people play video games and an estimated 150 million play in the United States. The average American spends around 12 hours a week playing video games and 32 million Americans play over 22 hours a week. The eSports audience was estimated at 459 million as at 2020 with a projection to hit over 700 million by 2025 globally. These are just a few of the current stats showing how the industry is rapidly growing. Advertisers can be seen to have shifted from other traditional sports to eSports. Around 2017 and 2018, the US Navy spent $20.2 million on television advertising, which represented almost half of their total budget. A significant portion of that total was a campaign featured during the Army-Navy football game.

THRIVING OPPORTUNITIES FOR ORGANIZATIONS

Organization's participation within the eSports industry will no doubt bring about exponential growth while aiming to target a large audience of Gen Z. Looking at students who are very much enthusiastic about competitive gaming, soft skills is one of the major components being harnessed. According to a recent piece in the?Harvard Business Review, one of the most critical areas for skills development is soft skills. As many as 50% of jobs are likely to be automated by 2024. Today’s students can help prepare for the future of work by not only focusing on their technical and hard skills, but also on developing their soft skills.?That is to say that the growth of the esports industry has opened up a plethora of opportunities for organizations:

• Market Expansion: Esports organizations now have access to a rapidly growing market of enthusiastic gamers and spectators worldwide.
• Sponsorships and Partnerships: As esports gains mainstream recognition, organizations have attracted lucrative sponsorships and partnerships from brands eager to tap into the vast esports audience.
• Revenue Generation: The industry offers diverse revenue streams, including sponsorships, advertising, media rights, merchandise sales, and lucrative tournament prize pools.

New games are continuously disrupting the market and, for some, the fan following is immediate.125 million people had played Fortnite just 9 months after it launched in September 2017,while Apex Legends hit 1 million players in just 8 hours and 50 million players 1 month after launching in February 2019. On April 7, 2020, the closed beta of the new game Valorant launched and was watched for a total of 34 million hours by 1.7 million peak concurrent viewers on this day.

Esports is relevant for brands as it reaches a very narrow subsegment of the online population and is, therefore, a good way to specifically target this segment. Age, educational, and income demographics suggest that many esports fans are on the verge of starting jobs with an above-average salary: esports is mostly consumed by a young (on average 26 years of age), male (over 70 percent), tech-savvy, and highly educated group,18 making sponsorship not only an opportunity for a company to advertise its product but also to promote its brand as an employer.

COMMUNITY ENGAGEMENT AND UNITY

Esports has become a powerful catalyst for bringing communities together by creating a global network of gamers, facilitating online interactions and communities, fostering team loyalty and rivalries, promoting collaboration and teamwork, nurturing grassroots initiatives, and driving philanthropic and social impact. Through shared passion, mutual support, and the thrill of competition, esports unites individuals from diverse backgrounds, fostering a sense of belonging and community on both local and global scales.

• Global Fanbase: The esports community transcends geographical boundaries, uniting fans from all corners of the world who share a common passion for gaming.
• Online Interactions: Through online platforms, streaming services, and social media, fans can actively engage, connect, and build vibrant communities around their favorite games and teams.
• Live Events: Esports tournaments and conventions provide a unique opportunity for fans to gather, celebrate their shared interests, and forge lasting friendships.

The esports industry also has the potential to generate substantial economic benefits for communities like:

• Job Creation: The growth of esports has resulted in the creation of new job opportunities, from professional players and coaches to event organizers, content creators, and support staff.
• Tourism and Local Economy: Hosting esports events attracts visitors, boosts tourism, and stimulates the local economy through increased hotel bookings, restaurant visits, and entertainment spending.
• Infrastructure Development: Communities embracing esports may invest in building esports facilities, arenas, and training centers, enhancing the local infrastructure and attracting further economic activity.

EDUCATIONAL AND SKILL DEVELOPMENT:

The game of eSports serves as a powerful platform for education and skill-building:

• STEM Education: The industry promotes STEM learning by engaging young individuals in disciplines such as game design, programming, and data analysis, fostering critical thinking and problem-solving skills.
• Career Opportunities: Esports offers a wide range of career paths beyond professional gaming, including game development, marketing, broadcasting, event management, and esports journalism, providing diverse avenues for aspiring professionals.

The evolution of the esports industry has brought about a seismic shift in the way organizations operate and communities connect. With thriving opportunities for organizations, active community engagement, economic benefits, educational advancements, and cultural acceptance, esports has established itself as a force to be reckoned with. As the industry continues to evolve, organizations and communities must embrace this transformative power, harness its potential, and contribute to its continued growth, making esports an integral part of our global culture.