eSports is taking over the world. And by that, we mean it is becoming a more and more profitable industry as time goes on. In 2016, the global eSports market was worth $493 million. But by 2020, that number is expected to jump to $1.5 billion. It’s already 2022, and it’s already at $1.8 billion. Much of this growth is driven by sponsorships and advertising, with companies like Coca-Cola and Red Bull getting involved.
But it’s not just sponsorship and advertising money making eSports so lucrative. Viewership is also skyrocketing, with millions of people tuning in to watch tournaments online or on television. In South Korea, the birthplace of eSports, viewership for significant games can exceed 40 million people. That’s more than the Super Bowl!
So what is driving this growth? There are many factors, but one of the most important is that eSports is global. Players from all over the world compete in tournaments, making it a truly international sport. This diversity helps make eSports even more exciting to watch, and it also means that there are opportunities for players and businesses alike, regardless of location.
The growing industry has become a profitable venture that can tempt entrepreneurs to enter the field. Here are a few ways where you can profit.
Merchandising
Merchandise is a big part of the gaming industry; it will only get bigger. Players and fans love to buy clothing, accessories, and other items that show their love for their favorite games and players. And businesses can capitalize on this by selling merchandise directly to consumers.
There are a few ways to get started in merchandising. One is to create your line of products. You can work with a manufacturer or set up an online store. You’ll need to develop designs for your products and find a way to market them.
Of course, you’ll need to set up a delivery system to deliver products to customers. It can be challenging, especially when your initial stages involve making clothes or items from home. Fortunately, you can partner with a company that provides courier pickup from home to get your products to your customers.
It will also be necessary to make the packaging sustainable for long trips. Unfortunately, it can be expensive and time-consuming to pursue. If you don’t have the funds and time to create individual packages, you can outsource them to a provider specializing in small business packaging.
Another option is to become a distributor for existing brands. This can be an excellent way to get started if you don’t have the resources to create your products. You’ll need to find a supplier and market the products to gamers and fans.
Either way, there is money to be made in merchandising. The key is to find the right products and market them effectively.
Electronic Device Maintenance, Repair, and Customization
As the gaming industry grows, so does the market for electronic devices. The list includes game consoles, computers, and even mobile phones.
With this growth comes a need for maintenance and repair services. Players want to keep their devices in good condition and are willing to pay for them. It provides an opportunity for businesses to offer these services. There is also a market for device customization. Gamers want to personalize their devices to make them unique. It can be anything from customizing the exterior to adding new features or functionality.
If you have experience with electronics, this can be a great way to get involved in the gaming industry. You can start by offering your services to friends and family and then expand from there.
eSports Management Team
An eSports team is a group of professional gamers who compete in tournaments. Businesses sponsor these teams, and they can be pretty lucrative. The prize money for winning games can reach millions. It reached a point where it is already part of the university curriculum.
Of course, winning takes more than just a group of good players. It takes an excellent manager to lead the team and help them reach their potential. If you have experience in management and want to get involved in eSports, this could be the perfect opportunity.
You’ll need to find sponsors and manage the team’s finances. You’ll also need to plan training schedules, help with player recruitment, and organize travel arrangements. It’s a lot of work, but it can be gratifying.
Coaching
You can make money by coaching others if you’re good at a particular game; players always look for ways to improve their skills. They’re willing to pay for one-on-one coaching or group lessons.
You can start small by offering your services to friends and family. Once you have experience, you can expand by advertising your services online or in gaming forums. You can also approach businesses directly and offer your services to their employees.
To be a successful coach, you must be patient and understand the game inside out. You also need to communicate effectively and help players overcome their weaknesses.
Final Thoughts
These are just a few ways you can make a living off gaming. If you’re passionate about gaming, there are many opportunities to turn your hobby into a career. It takes hard work and dedication, but it’s possible to make a good living from gaming.
