Furthermore, according to findings of the inaugural Digital Strategy Study produced by Manatt, Phelps & Phillips, LLP, a multidisciplinary, integrated professional services firm, and digital media consulting company, Vorhaus Advisors, esports is quickly gaining market share as the sixth most popular type of content. Just under half (46%) of respondents in the study said they watch more esports now than they did six months ago, and 43% anticipate spending more time watching esports in the upcoming six months.
Commenting on these findings, Ned Sherman, digital and technology partner and director with Manatt, said: “In addition to the surge in online video viewership more generally, the market for esports is massive and an area that our team is deeply involved in as companies assess investment and M&A opportunities.
“We’ve represented some of the major players as well as negotiated team and player agreements for the top esports competitors in the industry, and this research reinforces that the market for this will only continue to grow.”
Discussing other findings of the study, which analysed responses from more than 2,000 respondents aged over 18, Mike Vorhaus, CEO of Vorhaus Advisors, said: “SVOD and OTT continue to grow and traditional pay-TV remains under pressure from cord-cutting.
“Our data suggests that skinny bundle offerings are an effective strategy for winning back traditional pay-TV consumers. Furthermore, traditional television consumption remains highly attractive, particularly among the population 35 years and older.”