We all know that esports is a massive, and rapidly growing, industry but it is rare that we get to look at the figures. However a new report from market research company Newzoo has revealed that the global esports revenue for 2017 was $655.3million.

The figure comes from Newzoo’s new esports report that compiles data on the global esports market. The annual report is one of the most trusted in the world of esports and gives us the best indication of the size and growth of the industry.

When Newzoo launched the 2016 report they predicted that in 2017 esports revenues would hit $696.6million. The actual figure is quite a bit lower than that – but still a massive increase over the 2016 total of just $492.7million.

All revenues that come into the esports world are included in the figure, with the primary incomes coming from sponsorships, which made up 36% of all revenue, advertising and broadcast rights.

All of these areas are expected to grow significantly over the next few years, with Newzoo predicting that sponsorship will make up a massive 46 per cent of all income by the end of 2021.

Elsewhere in the report Newzoo revealed that the total esports audience grew almost 20% in 2017 compared to 2016, to a massive 335 million. That includes both esports enthusiasts who watch esports more than once a month and occasional viewers who watch less than once a month.

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The predictions for upcoming years are what many will be interested in, as companies look to see if the rapid growth esports has experienced over the last few years is sustainable. If Newzoo turns out to be right then we can safely say yes to that, with the firm predicting that the global revenue will hit $906 million in 2018 and then a massive $1650million by 2021.

This will surely be good news for those looking to get involved with esports, as the money really does seem to be coming in at a rapid rate. It is still early days for the industry and things seem to be on the up.