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Newzoo pins hopes on esports for revenue boost in video games

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Newzoo pins hopes on esports for revenue boost in video games
Photo Credits: venturebeat
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Newzoo, the Dutch market intelligence company focusing on egaming predicts eSports will gross $1.7 billion in revenues by 2021.

Newzoo makes a bold prediction that by 2021 is that every major U.S. media conglomerate will have esports media rights in their portfolio.

“U.S. media conglomerates such as Disney, Comcast, and AT&T are already looking into content rights for esports,” reads Newzoo’s blog post. “As these companies look to entice younger consumers, they will become even more active in the scene. We expect these companies to not only feature esports on their linear media platforms, as seen with the Overwatch League on Disney XD, but also on non-linear live-streaming platforms, such as Disney’s upcoming streaming service.”

The other major outlook that Newzoo has for esports is how it will drive growth for gaming to surpass the revenue for traditional sports.

“Gaming as a whole, including esports, is already on track to become a bigger industry than traditional professional sports,” Newzoo explains. “We expect that the global games market will generate revenues of $180.1 billion by 2021, and esports will be a major driver of this, with many brands investing in esports to appeal to younger demographics. As more companies get involved and consumers spend more time watching esports content outside of the competitions themselves, esports will generate much growth within the global games industry.”

The research firm has other interesting thoughts about 2021. For example, the Olympics will embrace esports but not as part of its traditional winter or summer games. Newzoo analysts also believe that “esports” will fade by 2021 – the term, that is. Fans will likely talk about their individual game that they are a fan of, but don’t expect too many more generalised “esports tournaments.”

But making predictions is easy, looking back at how wrong you were is tougher. But Newzoo did that for its predictions about esports from 2015. It claimed that esports would reach $465 million by 2017 (it reached $655 million) and outgross the WWE wrestling promotion (it did). It also claimed that media rights would turn into a huge focal point (that’s true), and organisations would need strict rules and regulations to protect tournaments from cheating (the Esports Integrity Coalition began in 2016).

The only thing Newzoo did not nail is that esports would need to shift to a regional structure with city-based teams. Newzoo claims that’s partially true thanks to the Overwatch League, but it also notes that this strategy has gone widely ignored by other leagues. But who knows, maybe that could still happen by 2021.

 

Source: venturebeat.com

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eSports

1xBet Sponsors Esports Organisation Tundra Esports

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1xBet has become a sponsor of the world-famous esports organisation Tundra Esports.

According to the terms of the three-year contract, the 1xBet logo will appear on Dota 2 roster jerseys and the organisation’s online portals. In addition, the agreement also includes several activities also been planned for Tundra’s digital platforms and the official 1xBet website. This will help the bookmaker attract a new audience to enjoy the brand’s wide range of services.

Alex Summers, a spokesperson for 1xBet, said: “Esports is one of the most important areas of the company’s operations. As a rule, the disciplines in it are very dynamic, so fans get a lot of excitement and thrills while watching.

“Esports are already very popular, and the number of fans has grown tremendously. But, most importantly, it has great potential for further development, so it is vital to support both individual organisations and esports as a whole.

“This is a task that 1xBet is accomplishing. Our brand is with esports – seriously and for a long time. The start of cooperation with Tundra Esports is further proof of a reliable bookmaker’s desire to be at the forefront of the development of esports.”

Tomi Tikkala, Head of Business Development at Tundra Esports, said: “I’m sure the theme of our partnership with 1xBet will be new achievements, bright emotions and big wins. The motto of our organisation is #TundraTribe. We hope that very soon even more esports fans will know these words. There’s a big adventure ahead of us together – stay tuned.”

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eSports

Oddin.gg poised to significantly scale and add new product verticals after recent $4.5m Series A fundraising

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Oddin.gg poised to significantly scale and add new product verticals after recent $4.5m Series A fundraising
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Oddin.gg, the world-leading B2B esports odds feed, risk management and iFrame provider, is extremely proud to announce a Series A financing round, during which the company raised $4.5m from current investors, as well as from Velo Partners and Genting Ventures.

The round comes after ongoing business momentum, during which the company has not lost a single client in the last 3 years while signing landmark B2C deals with Betway, Yolo group (sportsbet.io and bitcasino.io brands) and Loot.bet, among others, plus major B2B deals, including OpenBet, Aspire Global and Altenar, to name a few. Oddin.gg operates on all continents, and recently started offering its services in New Jersey, US. They have current applications for licences in other US states as well as Ontario, Canada. With an almost 9-digit monthly USD handle under management, the company delivered a 6.7% average margin to its clients in 1H 2022. As one of the very few in the esports ecosystem, the company broke even in July 2022.

The funds will be used to strengthen Oddin.gg’s position as a global esports B2B betting leader and to expand to new verticals. Oddin.gg offers a 360° approach towards esports betting, providing betting operators everything they need to set up successful business operations. This includes data visualisations, marketing, odds feed, risk management, and iFrame.

The Series A round comes after a successful seed round in early 2020, in which Oddin.gg raised $1.2m.

Oddin.gg Co-Founder and CEO Vlastimil Venclik said: “On behalf of the entire Oddin.gg team and myself, I am proud of everyone involved. First of all, we want to thank our clients and partners who share our vision and who have made our growth possible. At the same time, we feel fortunate to work with our investors and to see this investment helping us to scale. This round will help us to continue enjoying our exponential growth and development of new services that will cement our position as a leader in the industry. I want to thank all our partners for their trust, and we will work tirelessly on our vision to justify it!”

Genting Ventures said: “We are impressed by Oddin.gg’s technology with class-leading metrics for esports betting. From an industry standpoint, we see the dynamic potential of esports, and identify Oddin.gg as a key player offering top-tier data and service for its partners in the competitive gaming space.”

Velo Partners said: “We were immediately impressed with Oddin’s best-in-market esports odds products, as well as their broader strategy of building an esports ecosystem to service all of their customers’ esports needs. We look forward to being a part of this compelling growth story in the coming years”

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eSports

Quadrant reveals new controller with SCUF Gaming

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Gaming, lifestyle, and esports organisation Quadrant reveals controller range with premier performance gaming controller manufacturer SCUF Gaming.

Quadrant, a gaming, lifestyle, content and apparel brand founded by Lando Norris, has today (16 August) announced a new controller range.

Produced with partner SCUF Gaming, a leader in the design and manufacturing of high-performance gaming controllers, the Quadrant range will be available for all platforms with unique Quadrant colours and design available on scuf.co/Quadrant with an additional –5% discount on all orders with coupon code “Quadrant”.

This latest project pushes the partnership to the next level, as Quadrant continues to enjoy unprecedented success in the gaming and esports worlds.

Since embarking on a journey into competitive Esports in late 2021, Quadrant has become one of Europe’s leading Halo rosters. Quadrant’s Halo Team secured its best result to date last month, finishing second after a close-fought final in the Halo Championship Series event in Valencia.

Up next for Quadrant’s Halo Team is the Orlando Major in September, culminating with the all-important Halo World Championship 2022 event (20-23 October) as the team looks to build on its exceptional form to secure a first-place finish before the season end.

As Official Controller Partner, SCUF Gaming will continue to play a crucial role in Quadrant’s success. A global innovator in its own right, SCUF Gaming create industry-leading custom gaming controllers and premium accessories for console and PC that are used by both professional Esports competitors and casual gamers.

Following the release of the eye-catching Quadrant controller range, the two organisations are already working on exciting future content for both Quadrant and SCUF Gaming audiences, with new releases set for the coming months as the partnership continues to develop.

Jamie MacLauren, Chief Sporting Officer at Quadrant, said: “We’re extremely proud to announce the launch of our Quadrant x SCUF Gaming controller.

“This project has been in the works for a while, and we’re delighted to see it come to life and provide our community with a high-quality and high-performance Quadrant controller for their gaming sessions.”

Diego Nunez, VP of Marketing Corsair Gaming, said: “We’re excited to take this exciting partnership to the next level by combining Quadrant’s distinctive fluro brand with our high performance controllers!

“As Quadrant grows as one of the most versatile and exciting Esports brands in the world and our PS5 Reflex and Xbox Instinct cement their place as the top performance controllers, we’re delighted to launch this new design combining racing, lifestyle and gaming.

“The time has come for Quadrant’s Halo team and content creators to get their hands on a unique controller, while ensuring that fans can get their hands on it as well and not only join the #sQUAD, but #TeamSCUF too!”

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