Newzoo: Esports revenues are on pace to grow 52% this year

Competitive gaming is going through a growth spurt in 2016.

Esports-related revenues are on pace to generate $493 million in 2016, according to a report from intelligence firm Newzoo. That’s up more than 51.7 percent from 2015, and it is also a 7 percent increase from the projection that Newzoo made to kick off 2016. Most of the growth comes from gaming publishers investing in the space as well as media rights selling off to broadcasters faster than expected. The rest of that revenue comes from event sponsorships, video advertising, and ticket sales.