Esports and Money in 2020

Originally published on VC Cafe

Eze Vidra
5 min readOct 15, 2020

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We’re very excited about the potential of Esports at Remagine Ventures. Apart from the cultural phenomenon and increased viewership of Esports, like any other professional sport, there’s also a business aspect. So what’s the relationship between Esports and money and where does it stand in 2020?

A recent McKinsey report focused on the potential Esports represents for brands prompted me to dig deeper.

Esports industry revenues — scratching the $1 billion a year

Despite the massive viewership, Esports as whole is still relatively small when it comes to revenue. In 2020, revenues are expected to reach $1 billion, and grow by 60% in 2023.

Esports revenue growth for 2020 was recently downgraded by Newzoo to $950M — Source: Newzoo Global Esports Market report

A few facts about Esports revenue according to Newzoo:

  • Global esports revenues will grow to $1.1 billion in 2020, a year-on-year growth of 15.7% from $950.6 million in 2019.
  • In 2020, $822.4 million in revenues — or three-quarters of the total market — will come from media rights and sponsorship.
  • China is the largest market by…

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Eze Vidra

Managing Partner at Remagine Ventures. Founder of Techbikers, Campus London and VC Cafe, proud Xoogler. On the boards of Chargifi, HourOne, Vault AI and EchoAR