Video game is one of the fastest blooming industry, it is expected to reach $300 billion in revenue by 2025. However, the gaming industry has changed from single player games to online free to play games. This kind of video games has contributed in the growth of video game industry, and the eSport industry as well.
Free-to-play games, as the name suggested, are games that are completely free to register to play, and these games are often online games. Because it is free to play, people often have misconceptions on how these games are not regenerating any revenue. However, the developers are making profits from in-game items such as skins, cars, weapons,… Fortnite, League of Legends, and Apex legends are the biggest names in this industry, and their business model is no different. Fortnite generated one billion dollars in revenue thanks to its sale of in-game items.
Prediction of eSport’s growth
This Free-to-play model also has a propelling the eSport industry as well such as Fortnite World Cup, League of Legends World Championships and such. In 2019, the global total viewership will exceed 453.8 million audience, which could generate one billion dollars in revenue by this year. These huge numbers of audience attract investors as well, and the relationship expands both ends. Video games industry is a huge industry, with no signs of stopping in growth.
Reference:
https://www.forbes.com/sites/ilkerkoksal/2019/11/08/video-gaming-industry–its-revenue-shift/#5adb9242663e
https://newzoo.com/insights/articles/newzoo-global-esports-economy-will-top-1-billion-for-the-first-time-in-2019/