Pwc: Opportunities Emerging With The Rise Of Esports In China

by swisscham in Consulting, Legal, Services, Tax

PwC unveils key metrics highlighting the rapid rise of eSports Ð competitive video gaming events – in China.Ê Already the third largest market globally, PwC data shows that over the next four years, eSports in China is on course to extend by a compound annual growth rate (CAGR) of 26.4%, rising from USD 56 million in 2016, and is estimated to be worth USD 182 million by 2021. Figures from PwC chart the dynamic expansion of eSports in China, now the second largest market in Asia. Currently, only the Republic of Korea generates more value in the region, which itself is expected to reach USD 195 million by 2021, albeit with a lower CAGR of 13.9% over the next four years.Ê The U.S. is still the largest national market by value, anticipated to be worth USD 299 million by 2021, aided by a buoyant 22.6% GAGR.ÒThe evolution of eSports is incredibly exciting and itÕs unfolding at a staggering scale here in China. As a recent example, last week, the World Championship finals for League of Legends (LoL) – among the most popular video games in China – filled the national stadium in Beijing. And yet ticket sales are just the tip of the iceberg, with millions more watching the finals at home via live streaming, indicating the vast size and range of opportunities that await in this dynamic area.Ó Said Frank Cai, PwC China Assurance partner.According to the PwC Global Entertainment and Media Outlook 2017 – 2021 (E&M Outlook), the upward trend of eSports in China correlates with the nationÕs booming video game market, which generated revenues of USD 15.4 billion in 2016, and is on track to rival the US Ð currently the largest market – by 2021, by which time a value of USD 26.2bn is predicted to have been reached.

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