Chinese Esports Industry to Gross $445M this Year, Almost as US and South Korean Markets Combined
The Chinese eSports industry is expected to gross more than $445 million this year, almost as the US and South Korean markets combined.
Although government restrictions significantly cut down gaming revenues and the number of gamers in China last year, the country’s eSports market continued growing. Last year, the Chinese eSports industry grossed over $383 million, 24% more than a year before. The double-digit growth is set to continue in 2023, with China seeing more eSports revenue than any other country.
According to data presented by SportsLens.com, the Chinese eSports industry is expected to gross more than $445 million this year, almost as the US and South Korean markets combined.
Almost 30% of Global Esports Revenue Comes from China
According to Statista Media and Advertising Insights, over 55% of global eSports revenue comes from only three countries, China, the United States, and South Korea. Still, China is a few steps ahead when talking about revenue and users.
In 2022, the global eSports industry grossed $1.42bn, or 14% more than the year before. Statista expects revenues to grow by another 14.2% year-over-year and hit $1.62bn in 2023, and 27% of that value will come from China.
The Chinese eSports market is expected to gross $445.2 million this year, up from $383.4 million in 2022. As the second-largest globally, the US market will generate around $317 million in revenue or 19.5% of the world’s total in 2023. South Korea follows with an 8% market share and $133.4 million in revenue.
The Statista survey also showed one-third of all Esports fans and viewers come from China. In 2023, more than 580 million people worldwide are expected to watch eSports, up from 526 million last year. China, the world’s esports capital, counts over 189 million viewers. Far below, the United States and South Korea follow, with 30.5 million and 6.95 million eSports fans, respectively.
Chinese Companies to Spend $262M on eSports Sponsorships and Advertising in 2023, 45% more than US Brands
Most Chinese eSports revenue comes from sponsorships and advertising, the market’s largest segment. According to Statista, Chinese brands will spend more than $262 million on esports sponsorships and advertising in 2023, 45% more than US companies. This includes deals for sponsoring esports events and teams, product placements, and advertising sold as part of a sponsorship package.
In comparison, companies and brands from the world’s second-largest gaming industry, the United States, are expected to spend around $180 million on sponsorships this year. Statistics show that half of all esports sponsorship and advertising revenues come from the two countries.
Overall, companies and brands worldwide will spend nearly $895 million on esports sponsorships and advertising in 2023, or 13% more than last year.
The full story and statistics can be found here: https://sportslens.com/news/chinese-esports-industry-to-gross-445m-this-year-almost-as-us-and-south-korean-markets-combined/