*By Amanda Weston* One of the fastest-growing segments in sports takes place behind a computer screen. And as players and fans flock to the eSports, so does the money. According to a [new Deloitte report](https://www2.deloitte.com/insights/us/en/industry/telecommunications/capitalizing-on-growth-of-esports-industry.html), the eSports market is poised to generate $1.5 billion in annual revenue by 2020. Most of the cash will come from sponsorships and advertising that targets 600 million fans worldwide. Pete Giorgio, Deloitte's U.S. leader for sports, told Cheddar Friday that arena e-competitions often achieve the same scale as more traditional, major-league fare. "I think there is an overlap of traditional sports enthusiasts, but also this whole new wave of people who have probably never been to a traditional sporting event, and really being pulled into this same type of environment," said Giorgio. While in-person events comprise a large part of the fan base, the majority of viewers choose to stream competitions and interact with their favorite gamers online. The most popular game on Twitch, "Fortnite," has 4,500 streams with 140,000 viewers on average at any given moment. In just one week earlier this month, "League of Legends" fans watched a combined 17.7 million hours on Twitch. Giorgio's upbeat assessment of eSports is reflected in what has happened with the [Overwatch's League](https://www.barclayscenter.com/events/detail/overwatch-league-grand-finals-2018). Only in its inaugural season, the league is holding a [two-day championship tournament](https://cheddar.com/videos/overwatch-finals-notch-record-high-attendance-as-esports-fan-base-soars) at the Barclays Center in Brooklyn, where 20,000 seats sold out within days and a $1.4 million prize pool is at stake. Giorgio expects to see that kind of momentum continue. "An eSports event, you can in the morning conceive of it, in the afternoon let a bunch of people know about it, and that evening you can get a whole bunch of people online watching that event in a way you literally can't do in the physical world," said Giorgio. Businesses and media are also angling to enter the game. Entire online news sites like [The Esports Observer](https://esportsobserver.com/) bring gamers the latest from the industry. ESPN has an [entire section of its site](http://www.espn.com/esports/) devoted to the subject. Giorgio doesn't know exactly where the market is goingーbut he thinks it's going somewhere. "There has been exponential growth. It's going to keep going." As for investors, Giorgio also thinks now may be a good time to act, lest they miss the growth. "You can sit back right now and say, 'am I seeing the birth of the next NFL? Am I seeing the birth of the next English Premier League? How do I get in on the ground floor of that and ride that wave?'" said Giorgio. For Full Interview, [click here] (https://cms.cheddar.com/videos/VmlkZW8tMjEyNTI=).

Share:
More In Business
Stretching Your Dollar: When to Opt for a Credit Union Vs. Bank
Kia McCallister-Young, director of America Saves, joined Cheddar News to explain key differences to consider when making a choice between a credit union and a bank. "You want to do your research and know exactly how to gain membership to a credit union," she said, "but, again, banks often are able to be more accessible and be in neighborhoods."
Startup Says 'Smart' Chicken Coops Could Promote Backyard Farming
Producing your own food doesn't mean you have to own your own farm, and it might be as simple as raising some backyard chickens. Agri-tech startup Coop aims to make this easier for non-farmers with a so-called "smart" chicken coop. Cheddar News Senior Reporter Michelle Castillo found a flock to learn more.
Lawmakers Grill Regulators About Banking Collapse
Capitol hill is trying to get to the bottom of the bank collapses that shocked the financial system last month, and today lawmakers grilled banking regulators about why they weren't able to stop the crisis. Cheddar News correspondent Lisa Bennatan broke down the proceedings.
Alibaba to Split Itself Into 6 Business Groups
Alibaba is splitting itself into into six business groups as the Chinese e-commerce company attempts to become more nimble in reacting to changes in the market and increase the value of those units.
At Trial, Minnesota Says E-cigarette Maker Juul Targets Kids
Juul will finally have its day in court for its role in the teen vaping epidemic. The Minnesota attorney general is preparing for opening arguments in the state's lawsuit against the vape maker. Here to break down the complicated backstory for this legal case is Senior Reporter Chloe Aiello.
Load More