Lately, Esports are getting a large amount of attention. The League of Legends World Championships had their viewership grow to rival the Superbowl. Secondly, young gamers aged between 18 and 25 years have been found to watch Esports 34 percent more than the traditional sport. This is attributed to the fact that Esports itself is a digital platform and so the millennials being who they are watch less TV and so have more time to watch and play online games. This perhaps explains why Esports account for over $1 billion. Experts have conservatively projected that in the next seven years, the industry will grow to a whopping $4 billion, which shall represent a 400% upward leap. With over 2.7 billion gamers globally today, and the figure growing so fast, Esports presents a big potential for forward-thinking investors.
The last decade has been characterized by a dramatic shift of Esports from underground culture towards a mainstream industry, thus attracting the world’s greatest entrepreneurs such as Ashton Kutcher, Mark Cuban as well as celebrities in the sporting and music industry, including Steph Curry, David Beckham just to list a few. This highly lucrative industry has demonstrated beyond doubt that despite the traditional sports having had a head start, it is unquestionable fact that Esports and investors in the same are poised to reap huge results from the vast opportunities.
The Esports industry is a blessing that has happened in recent times, thanks to its huge potential to change the investment narrative. Having been in the business cycles for a reasonably long time, Charlo Barbosa says that starting a business ought not to begin with the imagination to make your product excellent from the word go. Instead, focusing on the basic things and steadily moving your targets will help you get your product receiving acceptance even when you least expect it.
As a passionate fantasy sports and Esports operator who has been in the Indian market for some time, he strongly believes that great success is informed by the ability to win over customers through skilled and creative strategies. For instance, he has made it in the world of business not only as an apps developer in sports and Esports but also as content creation. This success has largely been due to the company’s long and outstanding experience in user acquisition and operations. Having come from the ad-tech industry, he says that he and his staff have a rich experience in online gaming, especially at Disney Interactive, Full-Tilt Poker, and EA Sports, something that has accelerated his business beyond measure.
To make it in the Esports sector, it is crucial for starters to first understand the needs of the market and then proposing new or improved products that can provide alternatives to the customers. Far too many people have come to imagine that they need to create an amazing product and present it to the consumers. Subsequently, they tend to forget to research and analyze the market for purposes of getting feedback on ways of getting their best offering to the people. He jokingly says that “a business no matter the mediocre product is able to succeed provided it has a proper marketing strategy compared to the one with a perfect product but which doesn’t understand the intricacies of the market.”
Therefore, plunging into a fast-growing and increasingly competitive industry such as Esports requires you to rethink your marketing strategies and be able to tailor your product to meet the unique needs of every customer. In addition, someone needs to be on the lookout for new information and industry trends. Being able to find out new ways and tactics and technology will enable you to stay abreast and ahead of the rest.
But all the analysts and seasoned investors such as Charlo Barbosa say that the market will be more friendly and receptive to those content creators who are competitive gamers ready to play and create compelling games from the very Esports games they are passionate about.