Article contains ad/affilate link – you must be aged 18+ to bet, please be GambleAware)
The top 16 highest-earning esports organisations from sponsorship revenues in 2023 have been listed by data and analytics company GlobalData.
Team Liquid, competing under Team Liquid Honda for the League of Legends division, emerged as the top earner in esports sponsorship revenue, notably securing a significant deal with Honda.
Esports orgs have traditionally put most of their eggs in the sponsorship basket, but with investment in the space drying up and the landscape evolving in recent years, orgs are finding it hard to navigate the so-called ‘esports winter’.
Even the esports betting space has been hit, with companies like Luckbox, Unikrn and Midnite scaling back, despite there being sites offering free spins still available.
Looking back on sponsorship revenues at esports orgs in particular, ‘a substantial gap persists between the sponsorship earnings of traditional sports teams and esports counterparts’ says GlobalData. ‘Notably, the sponsorship value discrepancy between standalone esports teams and those affiliated with traditional sports teams remains apparent, underscoring the evolving dynamics within the esports industry.’
GlobalData’s latest report, ‘The Business of Esports 2024‘, stated that the consumer goods sector is ‘by far the most prominent amongst esports teams in 2023, accounting for almost 30% of all deals found’. In terms the highest spend within the sector, clothing and accessories dominate.
Olivia Snooks, Sport Analyst at GlobalData, commented: “Esports teams have experienced exponential growth over recent years, especially since the COVID-19 pandemic, and this has allowed the top esports teams to attract top brands. For example, car manufacturer Honda is able to engage with a specific target audience through naming rights and being Team Liquid’s primary shirt sponsor.
“There is still a major discrepancy between sponsorship value of esports teams and sports teams which have esports teams included in the deal. For big sports teams that have an affiliated esports team, for example PSG and Manchester City, the sponsorship revenue they generate will be far larger than an esports team not affiliated with a sports team. This demonstrates that even though esports has shown such growth and progress in terms of revenue, it is still far behind the status of sports teams.”
“Esports social media following emphasises the real interest among gaming fans, especially in following their favourite players. In modern society, there is no such thing as a stereotypical gamer, and this has enabled the impressive progress which esports has experienced. Through social media, esports fans are able to keep up to date with their favourite teams and players.”
Top 16 highest-earning esports organisations in terms of sponsorship revenues
GlobalData listed the following:
After the publication of this article, we were informed by GiantX that they have an annual sponsorship value of $21m, and we realised that Guild Esports probably should be in the list above too.
We reached out to GlobalData, who said: “Based on our research, Guild Esports have seven active deals worth around $5m so just miss the cut on the chart but this is simply an ordering issue, so could easily have been included.
“In terms of Excel and Giants, prior to the merger, we valued Giants Gaming active deals at around $1m and the active deals we had for Excel total at around $3.2m, so nowhere near the $21m suggested by GiantX.
“Based on the GiantsX partner page, we will add and update the records we have for GiantX as some deals are not included.”
Global esports audience set to reach over 318m by 2025
GlobalData has also predicted that the global audience of esports is estimated to be over 318m in 2025.
The news comes after data and analysis of the esports sector has dwindled in recent years, with analyst Newzoo deciding not to publish esports-specific reports anymore – perhaps a reflection of the uncertainty of esports and turbulent times the sector faces.
However, GlobalData’s latest report, ‘Esports and Sports Sector – Thematic Intelligence,’ revealed that the global esports industry was valued at more than $1.4bn in 2022.
Olivia Snooks, Sport Analyst at GlobalData, commented: “The future of esports will see it move away from being majority online gaming, which was especially present during the COVID-19 pandemic. Livestreamed games are becoming more and more popular with the esports fanbase and with live competitions being held all over the world.
“Not only is this more engaging for the fans, but also allows the gamers to watch their favorite professional gamers and implement their in-game tactics into their own gameplay.”
Dom is an award-winning writer and finalist of the Esports Journalist of the Year 2023 award. He graduated from Bournemouth University with a 2:1 degree in Multi-Media Journalism in 2007.
As a long-time gamer having first picked up the NES controller in the late ’80s, he has written for a range of publications including GamesTM, Nintendo Official Magazine, industry publication MCV and others. He worked as head of content for the British Esports Federation up until February 2021, when he stepped back to work full-time on Esports News UK and offer esports consultancy and freelance services. Note: Dom still produces the British Esports newsletter on a freelance basis, so our coverage of British Esports is always kept simple – usually just covering the occasional press release – because of this conflict of interest.
