With the end of 2019 fast approaching, it’s clear that the esports industry isn’t slowing down anytime soon. As the first 24/7 esports channel is already live, what does this mean for traditional sports? In the second annual Esports Survey, more than 200 sports executives were surveyed and results showed that 90 per cent feel that the growth of esports has already made an impact and will continue to do so. Digital media and live streams is a highly competitive area, with 24/7 viewing options available, 57 per cent of executives feel esports are getting more views than traditional sports.
As esports continues to grow, traditional sports are feeling the strain and are taking on the challenge to get involved in this lucrative sector. European football clubs including Ajax and Premier League champions Manchester City have even started to take part in major professional competitions. In the report, 88 per cent of respondents said traditional sports teams/leagues, athletes and celebrities will increase investment in esports to a “significant or moderate extent” over the next year.
In July, 16-year-old Kyle Giersdorf from the US won a record-breaking $3m (£2.4m) at the Fortnite World Cup as the solo winner of the event, that’s over a million more than Tiger Woods won at the Masters Tournament and more than Novak Djokovic at Wimbledon.
With this expansion, it’s important for companies in the gaming industry to protect their business from risks that may harm their ideas, reputation, income and products. With our range of bespoke insurance solutions, you can carry on working and gaming with peace of mind. Our range of cover options includes Insurance for Game Developers & Publishers, Insurance for Esports, Cyber, Intellectual Property and Insurance for Events. For more information, give us a call on +44 (0) 800 294 0431 to talk to one of our games insurance specialists