Why Esports Profits Might Be Further Away Than Activision Investors Hope
As Activision Blizzard (NASDAQ: ATVI) winds its way through a transition year, the company continues to invest resources in its esports initiative. Estimates by market researcher Newzoo and Goldman Sachs expect esports to grow into a multibillion-dollar industry within the next three years.
At the front of this emerging form of entertainment is Activision Blizzard's Overwatch League, which has been driving much of the momentum in esports. Since the league was launched in Jan. 2018, Activision has sold 20 teams -- in addition to broadcast deals with Twitch, ESPN, Disney XD, and ABC, as well as major sponsorships with some of the biggest brands in the world.
A crowd at Blizzard Arena. Image source: Activision Blizzard.
Source Fool.com
