Like to play Fortnite or League of Legends? You’re in good company, because esports have become hugely popular. And esports investing and esports stocks have benefited.
Gaming and esports have grown rapidly—driven by consumer demand, new distribution strategies, and new technology, according to research firm GlobalData. Gaming has transformed into a service model rather than just a product model. As that interest has grown, so has interest in esports investing.
Like everything else, esports have been affected by the sudden, global spread of the novel coronavirus. ESPN.com reported that dozens of live esports tournaments, such as Dota Pro Circuit, have been canceled or postponed indefinitely. Some events that were supposed to be held in stadiums, such as League of Legends, have moved online to support social distancing guidelines.
The Meteoric Rise of Esports
Before the global outbreak of COVID-19, games and esports analytics firm Newzoo forecast that global esports would