Record revenue for global esports industry: $ 1,6 billion in 2024

31 December 2024

More viewers. Bigger tournaments. Increased esports betting. New revenue streams. With 2025 around the corner, we can look back at 2024 and conclude that it was an overall good year for international esports. As a matter of fact, for the first time, the global industry crossed the $ 1,6 billion revenue threshold this year. A rapidly growing market in the United States, combined with dedicated esports hubs popping up all over the world, helped the international esports sector to reach this considerable milestone.

Combination of factors

The global revenue is a good indicator of the status of an industry, especially when it concerns a relatively new and upcoming sector like international esports. After all, the total revenue gives us an idea of how much investment and spending the sector is attracting. And from that point of view, 2024 was a good year for esports. Thanks to various key drivers, the industry managed to record its highest annual revenue up to date.

One of the major revenue drivers this year, in line with previous years, was the money generated by media rights. As more and more companies and other institutions are starting to realize the potential (added) value of esports and the related industry, they are investing more and more in esports content. In 2024, for example, media companies invested almost $ 200 million in broadcasting rights for international esports events and tournaments.

Another esports-related sector that had a considerable impact this year was the growing esports betting market. On a global level, the total amount reached almost $ 300 million and the expectation is that this number will only keep growing over the coming years. Esports betting is actually being considered as one of the major revenue drivers for the overall industry on the short and medium term.

USA surpasses China

Slightly surprising is the fact that the USA was one of the fastest growing markets in 2024. Thanks to this growth and an exceptionally advances infrastructure in which esports can develop, the United States were actually this year’s main market in terms of revenue generation. And that is without including the potential of esports betting, as this is not legalized in most states (yet). As we wrote earlier, once official licensing for esports betting gets going, both in the USA and in the rest of the world, you can expect the overall value of the international esports market to further grow at a quick pace.

GEF and IESF sign partnership

In light of the above, the recently signed partnership between former rival organizations Global Esports Federation (GEF) and International Esports Federation (IESF) also constitutes an interesting development. In a huge step for the governance of international esports and gaming, the federations have announced a strategic partnership.

The GEF and the IESF are considered two of the most recognized authorities at the international level of esports. Together, they have more than 100 member federations and they each organize high-profile world championships. By signing a formal partnership, the GEF and the IESF are planning to embark on joint initiatives and deliver new opportunities to players and stakeholders on a global level.