The Japanese esports market grew by 9% in 2020 and is set for even more impressive growth in the coming years, according to figures released by the gaming information firm Famitsu.
Japan’s esports market was valued at JPY6.7 billion (US$61.5 million) last year.
Famitsu also estimated that the number of esports fans—those who served as spectators for the matches—rose by 42% to nearly 6.9 million people.
The projection ahead is for a steeper growth curve, with esports revenues increasing by nearly 30% year-on-year until the middle of the decade.
In 2020, sponsorship fees and advertising expenses accounted for the largest proportion of esports industry revenues, accounting for over 67% of the total. However, broadcast rights are a segment that is showing strong growth.
By Niji Narayan
Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.