League of Legends is one of the most popular video games in the world. It is a 5v5 online battle arena game that has taken the gaming world by storm. The game was first released in 2009, and it has continued to grow in popularity ever since. In this blog post, we will take a look at where League of Legends is headed as an eSport.
eSports is growing at an alarming rate. According to Newzoo, the global eSports market was worth $696 million in 2017 and it is expected to grow to $1.38 billion by 2022. This is a huge growth rate of Compound Annual Growth Rate (CAGR), with China accounting for a third of that. So why is eSports growing so rapidly?
There are a few reasons. Firstly, the prize money for eSports tournaments is increasing. The largest eSports tournament in the world is The International, which is hosted by Valve Corporation (the developers of Dota 2). The prize pool for The International 2017 was $24.79 million, which was the largest ever for an eSports tournament. This prize pool has increased steadily over the years, from $20 million in 2016 to $24 million in 2017. It is expected to continue to grow in the future as more and more companies invest in eSports.
Secondly, the number of people watching eSports is also increasing. The eSports market has grown even larger in 2022, with viewers reaching 532 million, reports Newzoo! This is largely due to the growth of online streaming platforms such as Twitch, which allows people to watch eSports tournaments from around the world.
So where is League of Legends headed as an eSport? It is growing at a rapid rate and it shows no signs of slowing down. With more prize money being awarded and more people watching, it is only going to continue to grow in popularity.
For example, prize pools in League of Legends are very high. Since 2012, the money awarded to teams and players has grown, even though it has slowed down a bit over the last few years. According to Statista, in 2018 the total amount awarded by prize pools was over $6 million dollars! Furthermore, with the rise of more professional teams and support infrastructure for players, this money is expected to grow over time.
League of Legends isn’t the only big game in the eSports world. Riot Games recently released a new game called Valorant. It is a 5v5 competitive shooter game that is very similar to League of Legends. It will be interesting to see how the market and players will react in terms of the popularity of the game and future prospects for prizes in the game and this genre in general.
League of Legends is continuing to grow as an eSport. The game is becoming more popular every day, and the prize money for tournaments is increasing. This is due to the fact that more people are watching eSports tournaments, and companies are investing in the industry. They see the potential for this new medium and realize that digital advertising is the new frontier for them.
The future of League of Legends looks bright. We can expect to see even more growth in League of Legends as an eSport in the future from the rise of Twitch and its effects on increasing tournament viewership. It will be exciting to see how the game evolves over the years, alongside other games that Riot Games produces.
