At the prestigious 2023 Global E-sports Conference in Shanghai, China, a groundbreaking report highlighting the country’s esports industry development in the first half of the year was revealed to eager attendees.
According to the report, China’s domestic esports sector experienced an astonishing revenue surge, raking in a jaw-dropping 75.99 billion yuan (approximately £8.31 billion or $10.6 billion) from January to June 2023.
Moreover, a report from China Daily, a newspaper owned by the Chinese government, highlighted that ‘product sales‘ accounted for a staggering 84.84% of the industry’s revenue during the six-month period. Following ‘product sales,‘ esports live streaming and games contributed to a substantial portion of the earnings. The report also disclosed that China’s esports community expanded to a remarkable 487 million users.
It is worth noting that the revenue figure encompassed ‘product sales’ for esports games. Although the specific definition of ‘product sales‘ remains undisclosed, experts speculate it includes income related to esports revenue, such as video game unit sales and microtransactions.
Comparing this data to last year, The Esports Advocate reported that China generated a total of $21 billion (approximately £16.4 billion) in esports revenue for 2022, with game sales accounting for 81.52% of the total figure.
Interestingly, most industry revenue reports have typically excluded video game revenue derived from esports games when estimating esports revenue. The rationale behind this decision is rooted in the fact that much of that particular revenue is not directly driven by esports activities.
China’s Upcoming Esports Collaborations
Exciting news from Riot Games also emerged during the event, as they announced the upcoming hosting of a VALORANT Masters event in Shanghai in 2024. Having already achieved domestic success, Riot Games‘ popular FPS title VALORANT officially launched in China on July 12th.
Lastly, it was reported in July that the Shenzhen government had offered enticing financial incentives to attract esports teams, events, and media to the city. Companies bringing ‘large-scale‘ international esports competitions to Shenzhen could receive allowances of up to a staggering $1.1 million.
With these impressive figures and promising announcements, China’s esports industry continues to soar to new heights, solidifying its position as a major player in the global esports landscape. As the world watches China’s remarkable progress, the future of esports seems brighter than ever.
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