Esports leagues and music labels collaboration is not something new or extraordinary now. Both parts equally benefit from this prosperous partnership. There are multiple ways of how these two industries can upscale by the means of each other. For example, musicians such as Jennifer Lopez or Steve Aoki invest in esports leagues. On the other hand, music labels such as Universal Music Group obtain esports ventures (Luminosity Gaming and Enter Records). Major esports tournaments are usually attended by famous bands and performers like Mick Jenkins, Imagine Dragons, or Metallica. In this regard, game developers cooperate with composers and artists to create a memorable and captivating experience and attract a larger audience to key events.
In the past, you could witness the rise of esports-music festivals including such remarkable examples as PLAY Festival by Insomniac and Hyperplay by Riot Games and MTV. One can wonder what encourages these two sectors to the partnership and why the investment into it is constantly increasing. The answer is that it uncovers the potential of growth for both industries. Thus, by the means of this partnership gaming companies transform into viable media brands. They perceive the music business as the source of cultural and financial capital, the pillar and the integral part of the gaming process. On the other end of the spectrum, the music industry is constantly seeking other sources of revenue as well as new ways of representation and involvement of new audiences. In this regard, esports opens up new horizons.
In this article, we will look into this up-and-coming business intersection and explain why it is worth investing in 2021. By the way, if you need help with business writing, you can check this website.
How Do Esports Benefit From Music?
Sponsorships make around 40% of esports annual revenue. While comparing with other sources of income such as media rights and merchandise, they provide 18% and 11% of the overall revenue respectively. Regarding sponsorships, its large part comes from music companies and particular performers. In brief, esports need music as it helps to upscale the tournaments by making them more captivating and attracting a wider audience. Apart from that, music is the essential element of the gaming process. Thus, collaboration with composers and performers helps game developers enhance the gaming experience in general.
These two businesses intertwine in several ways. For example, esports-branded playlists gain traction on streaming services resulting in the increased revenue for both game developers and musicians. Game developers often greatly contribute to the promotion of esports anthems and soundtracks through such platforms as Spotify. Plus, esports tournaments need to be powered up with catching and suspenseful music to get the audience engaged and excited.
How Does The Music Industry Benefit From Esports?
Music labels and other companies are always searching for new opportunities, business models, and partnerships that can increase their revenue. The industry is inclined to experiments. The collaboration with esports leagues and game developers helps them to attract more attention to particular performers and music bands. Plus, game soundtracks give a bigger income for the industry in general. The synergy between music and esports results in the increased engagement. Thus, esports positively impact the music streaming revenue that reaches about 40% of the total industry revenue. Such musicians as Post Malone, T-Pain, and Drake adopted Twitch as a part of their fan-engagement strategy. Thanks to such platforms they can reach out to both gamers and music lovers.
Gamers taking part in esports tournaments can spend up to 11 hours a day sharpening their gaming skills. Thus, their user experience will greatly depend on the music. That is why esports-music collaboration is the future. The gaming industry is also considered a source of evolution for music companies as it has contributed to the popularization of such business models as free-to-play and freemium.
Ways to Make a Contribution
At the moment, there are two major directions you can follow to make a contribution to this promising intersection and benefit from it. The first one implies investing in the development of gaming event infrastructure. The second one refers to capitalizing on musical talent. Let's look into them in more detail.
- Esports tournaments investments
Some musicians actively invest in esports leagues, gaming conventions, and even esports tournaments promotion. There are dozens of esports arenas for global events that attract millions of visitors and viewers every year. In this regard, they require sufficient investment for the development of the event infrastructure. In the end, it can result in a doubled income.
- Capitalizing on the musical talent
There is a common misconception that only hip-hop, alternative, and electro-music are suitable for esports tournaments and gaming in general. In fact, the gaming industry keeps options open for various genres. The main criteria here are the energetic nature and fresh sound. For example, post-hardcore music such as Bring Me the Horizon also fits well for esports tournaments. Game developers are seeking new styles and genres to amaze the players and enhance their overall gaming experience. In this regard, investment in cultivating musical talent appears to be prosperous.
On A Final Note
Music and esports intersection opens up a variety of opportunities for business development and brings new fresh ideas for these sectors. It drives the evolution of both industries. That is why this is mutually beneficial collaboration. As long as the partnership between music and esports gains traction, investors seek new ways to capitalize on it. In this regard, if you are willing to get involved in this prosperous niche you can consider such investment opportunities as Bitcoin loans.