Newzoo: Esports will generate $696 million in revenues in 2017

The audiences and events for professional competitive gaming is going to continue its growth trajectory in 2017 and beyond, and this is going to lead to an influx of more cash.

Esports will generate as much as $696 million in revenues this year, according to a market report from intelligence firm Newzoo. That is a year-over-year growth of 41.3 percent, and most of that expansion will come from brands spending on ads and sponsorships. Newzoo estimates companies will put $155 million toward advertising with esports, $266 million toward direct sponsorships of players and events, and $95 million on media rights. The rest of the money will come from consumers buying a mix of tickets and merchandise.