In yet another defining move towards esports space, Activision Blizzard is in the final phase of launching a dedicated esports venue. The venue is located in Los Angeles and is expected to host the opening season of the Overwatch League. The venue is renowned for hosting the famous America talk show “The Tonight Show”. The news comes after MGM Resort recently announced the opening of an esports venue in collaboration with Allied Esports and Esports Arena at the Luxor Hotel and Casino Las Vegas. This could signal a takeoff for the esport arena industry to a much higher altitude and come in contention to challenge other sports format on the global level.
Future Market Insights (FMI)’s new study reveals that North America is currently the most attractive market for esports. In terms of revenue, the U.S. accounts for a significant share of the global market for esports, as the country has a huge fan base for esports. Hi Rez Stuidos, Electronic Arts, Inc., Kabam Inc., Zynga Inc., Riot Games Inc., Activision Blizzard Inc. are some leading US-based companies operating in the global esports market.
Esports Arenas to Become More Common
The esports industry has gained healthy momentum despite being at an initial stage of development. The nine teams that are going to contest in the Overwatch League have been sold by Activision Blizzard to well-known owners of the other sport franchises such as Stan Kroenke (LA Rams), Jeff Wilpon (NY Mets), and Robert Kraft (New England Patriots). It is anticipated that the league will offer a similar feeling to that of sports leagues, including building stadiums, selling tickets, signing players and training them. Moreover, there’s big money involved and Activision Blizzard as seem realize it. For the start, arenas could be a key window to monetary opportunities. At the same time, venue tickets, team merchandise, and advertising are likely to emerge as some of the other attractive revenue streams. In terms revenue, teams are likely to rake in significant amount of money, meanwhile, game makers might become a lot richer as well.
Companies such as Electronic Arts and Activision Blizzard are setting the trend as well as defining new formats of sports. They develop the game and hence become proprietors of such sports leagues. This, allows them to claim a significant percentage of revenue coming in from the esports leagues besides selling digital add-ons and millions of games. Success of such esports league will encourage game makers to make more number of esports games and create new ways to monetize content. Having ownership of such formats gives game makers more control of the industry and may even put them in a position to challenge traditional sports from a revenue point of view.
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