Will esports be taken as seriously as a traditional sport in India – Akshat Rathee, Co-founder and MD, NODWIN Gaming
Traditional sports like cricket, hockey, basketball, football and wrestling have been around for years and their culture is deeply embedded in the country at different levels, depending on the game’s popularity. While cricket is like a religion in India, competitive basketball is still finding its footing. Esports, on the other hand, first sprung up in India only a decade back but its massification has started only a couple of years back.
One of the main drivers that has the potential to make it a pop-culture phenomenon is India’s demographic dividend. Most esports fans are between the ages of 13-25. More than 50% of the country’s population is under 25 y/o. We believe this consumer base will keep growing the esports phenomenon. What is also catalyzing the growth of this sector is the acceleration of digitalization with live streaming and live gaming becoming the norm among India’s young gaming population.
According to a recent EY report, revenues in the esports industry reached nearly INR 3 billion in FY21 and are expected to reach INR 11 billion by FY25. Tournament sponsorship, streaming media rights, and prize pool are the key revenue drivers, the report said. This sector has potential to become as popular as cricket on the back of increased foreign and domestic investments in Indian esports companies. Merchandising revenue, celebrity status for star players, social media engagement, mega tournaments and increasing prize pools – are some of the factors that are to drive investment into esports, thus making it one of the fastest-growing sectors POSTCOVID-19.
Here are a few key factors that could potentially place esports in the same category as any other traditional sport in the next five years:
In India, cricket is what it is today because of the huge brouhaha and frenzy created by the 1983 world cup win. There has been no looking back for the sport ever since. Today, India is known to produce some of the best players across the world. Even chess and tennis became popular because of legendary players like Vishwanathan Anand, Leander Paes and Mahesh Bhupathi. Publicly viewed great victories legitimize the desire for glory and fame and this is exactly what’s happening in esports at present. Indian esports athletes like Mortal and Scout have made a name for themselves in the country and overseas with their victories in big tournaments, and that set a benchmark for the upcoming aspirants to perform and build their own space. The star player culture enabled the big Indian esports dream for the players and brands alike.