League of Legends
According to Riot Games, League of Legends and other prominent esports are not immune to the economic crisis League of Legends is one of the most popular PC games on the planet, and events like the Worlds 2022 championship contribute significantly to Riot Games’ revenue.
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Major esports events will not be immune to the global economic crisis, according to the CEO of one of the world’s largest gaming competitions. Speaking at the League of Legends world finals in San Francisco, John Needham told Sky News that he was worried that advertisers would stop sponsoring such events.
“Because our revenues are mostly from sponsors, you can have some weakness,” said Riot Games’ global president of esports. “We’ve done really well because we reach a scale of millennial and Gen Z audience that very few platforms can reach,” he added. But I’m concerned about our sponsors’ weakness.”
League of Legends is one of the most popular PC games on the planet, and events like the Worlds 2022 championship contribute significantly to Riot Games’ revenue at the League of Legends.
Riot Games received sponsorship agreements this year from companies including Tiffany’s, Mastercard, and Mercedes, all of which were looking to reach out to younger audiences.
Because almost all esports are played on PC at an elite level, the viewership is massive. Worlds 2022 established a new record for League of Legends esports with 5.1 million concurrent viewers.
Could the United Kingdom emerge as an esports powerhouse?
But what about the UK market? Could it one day welcome the world’s best professional gamers after proving itself a worthy host of world-class sporting events? In a report released in 2020, the government stated that esports have “the potential to develop as an area of real national strength in the UK, building on our world-class video games, entertainment, and sports sectors.”
Mr. Needham, who used to live in the UK, stated, “The UK hasn’t been the strongest market for us because it’s a very console-dominated market.” “In general, you don’t have enough space in your apartments or homes for a dedicated office PC setup.”
“A lot of gaming takes place in the living room.”
According to OKBET data from last year, 30% of Brits game on consoles, compared to only 12% on dedicated gaming desktop computers at the League of Legends. Explore the future of science and technology with Sky News at Big Ideas Live 2022.
Riot Games is hoping that their new shooter, Valorant, will alter things. “It’s the fastest growing esport right now,” Mr Needham remarked. “This is a game that is ripe for the UK.” “It’s a [tactical] shooter.” That is the most popular game genre in the UK.” If an event like Worlds 2022 is held in the United Kingdom, collaboration with local governments will be critical.
“We went to Shanghai a few years ago and transformed Shanghai into Worlds,” he recalled. “We were projecting off buildings and everything else.” And the government stepped in to assist us market the event.”