Tomi Kovanen was among the early professional esports players. Since then he has held roles at various tech and media businesses, including a stint in M&A at JP Morgan in London. Currently he’s a senior executive at IGC, an esports start-up based in California backed by the likes of the Milken family, Meg Whitman, and AEG. In this post he argues that while coronavirus is not the game-changer for the industry that some imagine it to be, its increasing importance in the world of professional sport shouldn’t be discounted.
Much has been said about esports’ status as a beneficiary of the coronavirus pandemic. While real sports are on pause worldwide, most competitive gaming can continue to take place online, albeit without a live audience. As a result, some pundits have suggested consumer preferences might make a permanent shift when the crisis subsides. But this is not supported by data so far, and those relying on this logical leap are underestimating the longer-term opportunity.
Blue Star Capital plc (LON:BLU) has invested approximately £150,000 in each of six esports businesses. The esports sector is experiencing significant growth and according to estimates by games and esports analytics provider Newzoo, may see total global esports market revenue increase to US$1.1 billion for 2019.
