Ahead of Asian Games in September, China records USD 10.6B revenue from eSports in 1H2023

Major Chinese cities like Shanghai and Hangzhou continue to become epicenters of eSports events in China; Hangzhou City to host the eSports components of the 2022 Asian Games at the city’s new, sprawling, 5,000-seat China Hangzou eSports Center

Original story from state-owned media China Daily

China’s esports industry recorded total revenue of 75.99 billion yuan ($10.6 billion) in the first half of the year and expects further growth driven by the upcoming 19th Asian Games, said experts during the ongoing 20th China Digital Entertainment Expo and Conference, or China Joy, which opened on Friday in Shanghai.

Esports product sales accounted for the lion’s share — 84.84 percent — of the industry’s revenue in the six-month period, followed by esports live streaming and games, said a report released by the Electronics Sports Committee of the China Audio-Video and Digital Publishing Association.

According to the report, China has 487 million esports users.

Zhang Yijun, first vice-chairman of the association, said the major esports events will unleash the industry’s potential and drive further growth.

Riot Games, known as the developer of League of Legends, announced at the conference that Shanghai will host one of its biggest esports events, Valorant Masters, in 2024.

Shanghai has previously hosted popular esports events like the 2020 League of Legends World Championship.

Dylan Jadeja, CEO of Riot Games, said: “Over the past eight years, Shanghai has become an essential partner in helping us build extraordinary experiences for players worldwide. It is one of the most culturally rich and vibrant cities in the world, and home to some of the best talent in the gaming industry.”

The upcoming Asian Games will make the public better acquainted with esports and boost the global development of Chinese local game developers, the report said.

“The most pivotal event in the esports industry in 2023 is the Asian Games in Hangzhou, where esports was officially included as medal games for the first time,” said Robert Xiao, CEO of Perfect World. “This will undoubtedly bring many more new opportunities for the global development of Chinese esports.”

Read the original story on state-owned China Daily.com and learn about what gaming dev leaders had to say about the eSports industry in China https://www.chinadaily.com.cn/a/202308/01/WS64c83c43a31035260b8198ad.html