After years of being one of the most popular global streaming hubs, Twitch has finally met its demise. Dan Clancy, CEO of this formerly formidable platform, has recently confirmed that they are losing money. Theoretically, this should have posed a serious threat to the profitability of the eSports industry. But reports indicate that despite recent layoffs on this platform, gamers are still making big bucks.
Australian sports news has always been about traditional sports like cricket, football, and motorsports activities. It is clear that while very few platforms glitch due to loopholes, Esports has managed to gain popularity among its user base.
The industry is the up-and-coming new giant of the sports sector of the entire globe. But will sports news coverage be lucrative for Australia if they continue to go on with the existing status quo? While Australian sports news may not be able to swiftly change direction from traditional to more relevant spaces, its relevance might heavily depend on the quick adoption of Esports channels.
Here are some of the ways in which sports news coverage can be made more profitable through integration with e-sports trends.
Large-scale events such as the Australian Open are significant for the profitability and demand in Australian sports news. This is because not only is the Australian Open a significant cultural event for the country - the sports festival is also an attractive feature in its place as one of the four Grand Slams around the globe – with the other three being Wimbledon and the French and US Open.
So, coverage of this event would draw in viewers from all around the world. And in order to garner more profits, shooting up the viewer and user base is needed.
Moreover, the Australian Open is one of the most innovative tennis games in Australia. The innovation – its deviation from tradition – could greatly improve the watch and stream rankings of this event.
With the global Esports market projected to become a more than $190 million industry, Australian adoption of this trend is imperative. This could in fact arguably be the single most decisive factor in whether or not Australian sports news is profitable in the future or not.
The growing market is all about engaging a younger and more tech-savvy audience, which is important for advertisers.
That is why Australian sports news would need to move away from its standard practices and focus more heavily on conventional news events that are relevant to the younger generation.
With subscription-based and pay-per-view models, the coverage of Australian sports news on Esports streaming channels could contribute significantly to the revenue.
Through content licensing and partnership programs, the original news content could be used for royalty payments. This kind of avant-garde affiliate marketing program would further improve the profitability rankings of Australian sports news.
Moreover, the sale of merchandise and gaming products would contribute heavily to the overall revenue generated from the streaming of Australian sports news on streaming channels.
The Australian government has recognized Esports as an official sport. While it comes with its own set of rules to ensure fair play, it has yet to achieve the same status as traditional sports.
Boosting the status of Esports to the same one as traditional sports harbors a greater promise for the young generation to become more involved in contributing to the sports section of the economy.
It would allow more people to leverage the Esports industry in terms of a revenue-building opportunity rather than simply a means of entertainment.
Esports might be a major thing in the gaming industry of the future as it is expected to yield $300 billion in revenue by 2026. But whether or not this will apply to Australia yet remains unknown.
It is heavily dependent upon whether or not the Australian government chooses to recognize this mode of sports to be equally as significant as traditional sports – or whether or not it chooses to evolve alongside the changing practices of the rest of the world.
Overall, the coverage of Australian sports news on Esports channels through streaming services could yield significant revenue – through data monetization, user base engagement, subscriptions, partnerships, and a host of other features – but with the existing stagnation in Australian sports news, such advancements appear to be unlikely.
Is the situation expected to change any time soon? Will Australians capitalize on the 19% of the population that could bring in an Esports revenue boom simply by participating in this trend? That remains, for now, to be seen. And it’s heavily dependent on whether or not the legislation as well as the Australian sports news industry will recognize the importance of this trend.
