*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
Nestlé dismisses CEO after he has relationship with a subordinate
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz undoes blockbuster merger after a decade of falling sales
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
Load More