{Podcast} Esports in the Olympics: A New Era of Competitive Gaming
Morris Misel
2,500+ Future of... Keynotes delivered globally | Global Business Futurist | Foresight Strategist | Media Commentator | Board Member | Optimist | Human-Centric
Imagine a world where your favourite video games are celebrated on the grandest stage of all—the Olympics. This isn't a futuristic dream; it's happening soon.
The International Olympic Committee (IOC) has announced the Olympic Esports Games, set to debut in 2025 in Saudi Arabia.
This ground-breaking event marks a significant milestone in the recognition of esports and its place in the world of traditional sports.
Let's dive into why esports is so important, its growing impact, and what the future holds for this thrilling new addition to the Olympics.
Why Esports Matters
Esports isn't just a passing trend; it's a global phenomenon that's reshaping entertainment and sports. The numbers speak for themselves.
The global esports market was valued at approximately USD 1.88 billion in 2022 and is projected to exceed USD 11.94 billion by 2030, with a compound annual growth rate (CAGR) of 27.6% from 2023 to 2030 (Vantage Market Research) (Grand View Research).
This growth is driven by a massive, engaged audience that loves the competition, the strategy, and the excitement of watching their favourite gamers compete at the highest levels.
Key Points:
During my recent conversation on Hong Kong Radio 3 with Phil Whelan, we delved into these very points.
Phil pointed out, "We're going to be talking about Olympics of a different kind, aren't we?" Indeed, the decision to include esports highlights its extraordinary growth from a niche hobby to a mainstream sport.
Last year, there were 532 million people worldwide playing esports, and this number is expected to reach almost a billion within the next few years (Vantage Market Research).
Olympic Esports Games: The Big Announcement
The IOC's decision to host the Olympic Esports Games in 2025 is a game-changer.
Scheduled to take place in Saudi Arabia, this event signifies a major step towards integrating esports into the traditional sports world.
The Olympic Esports Games will feature a variety of popular esports titles, though the specific games have yet to be announced.
This inclusion is expected to draw younger audiences to the Olympics, rejuvenating the event and bringing in new revenue streams through sponsorships and advertising (Vantage Market Research) (Allied Market Research).
Why This Decision? The decision to include esports in the Olympics was driven by several factors:
What Sports Will Be Included?
While the official list of esports titles for the 2025 Olympics hasn't been released, it's likely to include some of the most popular and widely recognised games.
Here are a few potential contenders:
Challenges in Integrating Esports
Incorporating esports into the Olympics isn't without its challenges.
The IOC must navigate several hurdles to ensure the successful inclusion of esports:
During my chat with Phil, we touched on the necessity of these new esports categories to have their own rules, regulations, and ethics. This ensures that esports and traditional sports can coexist within the Olympic framework.
Pushing the Boundaries of Sport
The inclusion of esports in the Olympics pushes the boundaries of what we consider sport. It challenges traditional notions of physicality and athleticism, highlighting mental acuity, strategy, and teamwork.
This evolution is crucial for the future of sports, as it embraces the digital transformation that's reshaping our world.
The Role of Foresight Strategists
For foresight strategists, we can never rest on current thinking and confines. What seems obvious and well-defined will evolve.
Future technologies will impact and will have ripple effect changes. Often, these changes will stretch what was into what will be.
The future evolves to accommodate new markets and demographics, and this announcement is a prime example. New markets and possibilities have been found and actioned.
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This is the role of great strategists and leaders: to anticipate these possibilities and plan accordingly for the many future opportunities it may bring to a business and industry.
Future Angles: What's Next for Esports?
1. Virtual and Augmented Reality (VR/AR): The next frontier for esports could be the integration of VR and AR technologies. These innovations could create more immersive and interactive experiences, both for players and viewers.
2. Mobile Esports: With the increasing power of mobile devices, mobile esports is set to grow. Games like PUBG Mobile and Call of Duty Mobile are already making waves in the competitive scene.
3. Educational Integration: Esports is finding its way into educational institutions. Universities and high schools are offering esports programs and scholarships, recognising the skills and opportunities it provides.
Practical Advice for Businesses
For businesses looking to capitalise on the esports boom, here are a few strategies:
1. Sponsorship and Advertising: Align your brand with esports events and teams. This not only reaches a highly engaged audience but also associates your brand with innovation and modern entertainment.
2. Content Creation: Leverage esports content to engage your audience. Highlight behind-the-scenes looks at tournaments, player interviews, and strategic insights.
3. Community Building: Create and nurture online communities around esports. Host local tournaments, sponsor teams, and provide platforms for gamers to connect.
Conclusion
The IOC's announcement of the Olympic Esports Games in 2025 is a landmark moment for both esports and the Olympics.
This integration not only brings esports into the mainstream but also redefines what it means to compete at the highest levels.
As we move forward, the collaboration between traditional sports and esports promises to unlock new realms of possibility, shaping the future of entertainment and sport.
Embracing esports can open up new avenues for engagement, talent development, and economic growth.
The future of sports is here, and it's digital, dynamic, and incredibly exciting.
?? For more insights, listen to the full podcast of my conversation with Phil Whelan on Hong Kong Radio 3.
P.S. Here’s some additional information on the ?? Australian eSports scene:
Australian Games Industry Revenue
The Australian video games industry is experiencing significant growth, demonstrating its potential as a major player in the entertainment sector. Here are some key statistics and insights that highlight the size and potential of the Australian games industry:
Comparative Analysis
These figures demonstrate that the Australian games industry is not only robust but also growing rapidly. This surge is comparable to the global trend where the video games industry is generating more revenue than traditional entertainment sectors such as movies and sports. The substantial revenue and growth rates underscore the significant economic impact of the gaming industry, both in Australia and worldwide.
Conclusion
The rapid growth and substantial revenue generation of the Australian games industry highlight its importance and potential as a major entertainment sector. Given these trends, esports’ inclusion in the Olympics could further validate and propel the industry’s growth, attracting new audiences and investment.
?? Who's Morris
As a business futurist with over 40 years of global forecasting experience, I've advised clients across 160 industries and delivered 2500+ keynotes and workshops worldwide. My insights reach millions annually through various media channels, helping organisations navigate future trends and seize emerging opportunities.
I specialise in providing strategic foresight that enables businesses to anticipate changes, innovate, and stay ahead of the curve. Whether it's through keynote speaking, consulting, advisory or media appearances, my goal is to equip leaders with the tools and insights they need to thrive in an ever-evolving landscape.
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