With 2023 behind us, all eyes are focused on what the Esports industry has in store for 2024.
But what difficulties lie ahead for the eSports industry? Will the Esports Winter’s cold wind be as noticeable? What esports games should I keep an eye out for this year?
We asked a number of well-known industry players to forecast the year 2024 for Esports Insider’s look ahead. This concludes part two of our industry series; don’t forget to read what people had to say about 2023.
What do you think will happen to the Esports sector in 2024?
Nico Maurer, the CEO of Team Vitality, says, “I predict that many teams will be extremely frugal with their spending next year. We’re now taking a more realistic look at value and expenditure distribution because several esports titles have seen lower investment. Teams used to only pursue the top players, which resulted in fierce and costly bidding wars for the finest players. “Now we’re seeing teams correct for this by looking at their roster spending in more feasible terms where they spend what they can afford and what the players can generate in revenue,” the statement reads. Over time, this grew so inflated that teams were spending unsustainable amounts simply on one or two top players.
Head of Luminosity at Enthusiast Gaming, Alex Gonzalez, says: “Teams will stabilize in Q1/Q2 and start aiming for growth in Q3/Q4 of 2024.” The early-season trend of the team’s stabilization highlights the need to fortify internal systems, player rosters, and operational frameworks. This will entail a dynamic and smart approach toward maintaining and growing the esports business in 2024, followed by a growth-oriented plan in the later half.
Craig Levine, ESL Faceit Group’s co-CEO, says, “2024 is all about sustainability, as companies in the esports sector adjust their operations to be long-term focused. Several businesses learned this year that while the core esports audience is expanding, fandom takes time to grow. Companies need to keep shifting their strategy to capitalize on esports’ long-term potential rather than relying just on the audience’s immediate value.
Furthermore, I anticipate that developing nations will keep changing the face of esports, especially in the Middle East, which has been a significant expansion market for the video game business. That is undoubtedly related to the National Gaming and Esports Strategy that Saudi Arabia announced, as well as the substantial investments that are being made in support of it.
Miles Yim, The Story Mob’s associate director, says, “I think it will be more beneficial for the industry to promote competitions that include women and underrepresented genders. São Paulo, Brazil’s recent VALORANT Game Changers Championship was a huge success, exceeding viewing projections and providing an engaging product in the center of one of the most fervent esports markets globally. The excitement around competitions such as Game Changers indicates the emergence of a long-lasting and optimistic trend.
“Esports is an incredibly important engagement tool, and over the past year, we’ve recognized it’s also a powerful reacquisition tool for lapsed players,” said Monica Dinsmore, Senior Director of Esports Brand & Marketing at Electronic Arts (EA). Deeper integration between games and esports to create a more connected experience for players and fans is therefore one of the major developments we’ll witness in 2024. Additionally, there will be ongoing investments made in live events to support gaming communities and connect enthusiasts.
“I do think that you’ll start seeing more actors coming into Tier 2 and Tier 3, which will make a difference to the overall ecosystem,” said Robbie Douek, CEO of BLAST. “The industry is going to continue to go through consolidated change, where you’ll find certain actors in certain territories and regions taking the lion’s share of parts of business.” Since there has been some success in bringing individuals back from the pandemic and getting them into LAN events, we will see an increase in the number of tournaments held; this will have some positive financial effects.
Assistant Broadcast Producer at PGL, Vlad Ispas: “We believe that in the upcoming year, Counter-Strike 2 will have a significant impact on the business. Esports’ cornerstone, CS2, is about to take center stage after smoothly carrying over from its wildly popular predecessor, CS:GO.
What goals does your organization have for the upcoming year?
Now that 2024 has arrived, businesses are focusing on new KPIs. We compiled the goals that esports companies have set for themselves for the upcoming year after asking them.
CEO of Team Vitality Nicolas “Nico” Maurer: To sustain Rocket League and Counter-Strike performance. This involves trying to win the World Championship in Rocket League and another Counter-Strike Major. But as we expect from Team Vitality, our primary focus will be on League of Legends as we look to make a comeback to the World Championship stage. This does not necessarily imply that in 2024 we will have long-term development planned.
To keep funding Electronic Arts’ (EA) esports ecosystems, says Monica Dinsmore, Senior Director, Esports Brand & Marketing. “Our primary objective is to keep funding the expansion of our esports and connect with our most dedicated players and fans—what we refer to as the ‘white hot center’—through our unmatched selection of thrilling games.”
Head of Luminosity at Enthusiast Gaming, Alex Gonzalez: to intensify its focus on its three main games—Apex Legends, Smash, and Rocket League—while creating a viable and successful enterprise.
“Keep expanding not only competitively but also beyond the game as the sociocultural movement FURIA is meant to be,” advises Jaime Pádua, co-CEO of FURIA.
Craig Levine, ESL FACEIT Group’s co-CEO,: to give priority to the right business opportunities and to further integrate Vindex and Esports Engine into the ESL FACEIT Group. “The ESL FACEIT Group’s goals for the upcoming year are all about uniting.”
Robbie Douek, BLAST’s CEO, said to concentrate on optimization and profitability after a year of growing and entering new ecosystems. Moreover, it fulfills the needs of its fascinating publishers and expands alongside publishers in the ecosystem.
Assistant Broadcast Producer at PGL Vlad Ispas: To uphold the company’s high production standards by taking use of the PGL Major Copenhagen in 2024 as a premier platform for showcasing the business.
“We are dedicated to achieving the indisputable position of the top sponsorship data provider in the esports industry, with a strategic focus on expanding into emerging verticals,” says Tarik Amhamdi, co-CEO and co-founder of Shikenso Analytics.
What areas do you believe the Esports industry should focus on in 2024?
Co-CEO and co-founder of Shikenso Analytics, Tarik Amhamdi: The industry must precisely and clearly articulate its value proposition and economic relevance. To attain considerable and sustainable growth, the ecosystem as a whole must critically analyze important metrics, data, and facts. Now is the time for openness and directness; the days of sugarcoating reality are done.
Associate Director of The Story Mob Miles Yim: “I hope to see more significant players in the esports space devote resources to forming alliances with collegiate and high school esports programs. It has always astonished me that more esports teams don’t use the opportunity to support a school’s computer center or give out club-branded merchandise. There is a fantastic (but mostly underestimated) potential to increase company brand awareness and sow the seed of an esports and gaming career path through direct involvement with scholastic clubs, all of which contribute to esports’ continued existence.
Co-CEO of ESL Faceit Group, Craig Levine, says, “The esports industry needs to unlock new monetisation mechanics and reshape the engagement model for fandom.” Since traditional sports are primarily passive, their business is mostly based on media rights and advertising; however, since younger viewers interact with content differently in video games and esports, this mechanic needs to be modified.
CEO of Team Vitality Nicolas “Nico” Maurer: For the foreseeable future, more esports organizations must continue to develop a lucrative and long-lasting financial strategy.
For instance, in order to safeguard the organization in the near term, we had to swiftly adjust and reroute our course. Later, we considered reorganizing the organization’s expenditures to ensure our long-term viability in this fervent sector.
Co-CEO of FURIA Jaime Pádua: “As a sector, it needs to pursue greater economic stability. In addition to considering potential investments and the future, we must ensure the sustainability and soundness of our current operations as we go about running our company. By doing this, I think we can create a scene that is more resilient and less reliant on the state of the economy as a whole and the difficulties it may present.
Senior Director of Esports Brand & Marketing at Electronic Arts (EA), Monica Dinsmore: As a sector, there’s always more we can do to enhance inclusivity and diversity. We’ve made investments in initiatives like the Positive Player Award, which tries to upend toxic behavior and foster a friendlier gaming community, and we’ll keep looking for methods to promote diversity in 2024.
Assistant Broadcast Producer at PGL Vlad Ispas: “The industry needs to look into new ways to improve cost effectiveness and find better monetization models.” Businesses must take this proactive stance in order to be sustainable and expand over the long run. Businesses must focus on cost-effective procedures and creative monetization techniques in order to position themselves for success in a market that is always changing.
Which Esports game do you anticipate developing the most by 2024?
Co-CEO of the ESL FACEIT Group, Craig Levine, said, “I would keep an eye on Epic Games, both for Rocket League and Fortnite.” Recently, Fortnite has seen some exciting new content releases that have reenergized its player population. This player base has been growing because of the inventiveness of developers and users of the Unreal Editor for Fortnite. The general increase in viewership can also serve to highlight the essential elements of the eSports experience. We’ve already seen that Rocket League is among the most thrilling esports games available. Everywhere we go, it packs arenas, and Epic and Psyonix have created a fiercely competitive environment and a devoted fan base. When paired with UEFN’s future vision, that combination has the potential to be very potent.
Co-CEO of FURIA Jaime Pádua: “I think more people on the Dota 2 circuit share my perceptions.” As a result, I predict that throughout 2024, there will be developments pertaining to the scene’s revitalization. I would really love to witness that, at least.
Assistant Broadcast Producer at PGL Vlad Ispas: “Counter-Strike 2 is anticipated to make a significant impact in the game business, and this expectation is justified. Building on the strong foundation set by its predecessors, Counter-Strike 2 is expected to have a big influence on influencing the gaming landscape due to the franchise’s established reputation as a powerhouse.
“Rocket League and RLCS are reinventing the structure and convincing esports organizations to stay involved in the scene after the recent exit of a few key brands,” said Alex Gonzalez, Head of Luminosity, Enthusiast Gaming. We look forward to collaborating with developers and organizers to demonstrate our dedication to their titles and the long-term viability of their leagues during a period when organizations are moving away from certain titles.
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The Story Mob’s associate director, Miles Yim, says, “Teamfight tactics! Riot Games has demonstrated that it is committed to investing additional funds in growing the TFT esports sector following a significant event such as the Vegas Open. It’s a wise wager because TFT possesses the powerful combination of replayability, ubiquity, and complexity that has traditionally characterized outstanding esports games.
Tarik Amhamdi, Shikenso Analytics’ co-founder and co-CEO: It will probably be CS2. Soon after its debut, the community and professional worlds both had their first criticisms. In spite of this, the ardent esports fan base has demonstrated resilience, demonstrating little effect from the criticisms when the initial events transpired.
Nico Maurer, the CEO of Team Vitality: This is a challenging subject because the majority of tier-one esports titles are well-established and highly rigid, with little room for considerable growth. A tier two or tier three esports title that has the potential to reach a larger audience and become extremely successful as a result would be fantastic to see showcased at a major esports tournament like the Esports World Cup.
