SEOUL, Nov. 28 (Korea Bizwire) – The e-Sports industry is expanding at a torrid pace. From 60.2 billion won in 2014, the industry is growing by more than 10 billion won every year. According to a study commissioned by the Korea Creative Content Agency and the culture ministry, last year’s growth was measured at 14.9 percent, and e-Sports was an 83 billion won business.
The global e-Sports industry in 2016 was valued at 557 million won. The good news for South Korea is that it occupied 14.9 percent of the total valuation.
The robust health of the gaming world is helping pro gamers line their pockets. Compared to last year’s average annual earnings of 64 million won, this year’s professionals on average took home 97.7 million won, a 52.5 percent leap in one year.
The explosion in earnings is attributed to the hundreds of millions of won in money earned by top-shelf players both in domestic leagues and foreign competitions.
Breaking down the domestic e-sports industry into sectors revealed that broadcasting comprised the largest share with 44.8 percent (37.2 billion won). Other areas were budgets of e-sports teams (21.2 billion won), streaming and other online sharing (13.6 billion won), on/offline stores (6.2 billion won) and winnings (4.6 billion won).
The report also found the industry was responsible for creating 11,173 jobs, and other economic spin-offs were valued at 63.3 billion won.
Kevin Lee (email@example.com)