China, being the most populated country on earth, naturally has an extremely large market for most industries. From electronics to luxury cars, with more than a billion souls the game’s always big. Chinese Esports is not an exception.
Recently, a Chinese state-owned media network China Central Television (CCTV) released a report on how much money Esports is generating in China, and how much it’s estimated to.
The report said that Chinese Esports market reached ¥8.48 billion, which roughly translates to $1.25 billion in 2018. For the future, the total output value is expected to rise significantly – a whopping ¥21.1 billion, or around $3 billion by the year 2020.
The demand is obviously growing at a dizzying rate. At such a rate, in fact, that there is simply not enough players to fulfill it as of yet. To try and accommodate millions of people suddenly gaining interest, many Chinese colleges are opening up Esports related programs. These programs will be focused on supporting and cultivating talents, and also for management and event operation, Esports broadcasting and Esports streaming.
The Chinese government also took of the situation. Besides funding such college programs, they passed some laws recently that greatly help people looking to enter Esports. Essentially, they passed that “Esports operator” and “Esports player” as two new legitimate professions in the country.