It’s no big secret that the esports industry has struggled with profitability for the longest time. For several years, this volatile market has ebbed and flowed, with organisations rising and falling as the weight of never really making much money pulls the wider business to and fro.
Recently, superstar streamer Felix ‘xQc’ Lengyel mentioned during a broadcast that he has the perfect formula to fix the esports industry, but in his own words, it’s a bit ‘degen’.
Gambling and Co-Streaming
During a recent Q&A stream on Kick, xQc spoke about the esports industry. He was asked what he’d do to help repair the constant instability of the market, to which he immediately agreed that something needed to be done. He pointed out that even before he was a pro player several years ago, the industry was ‘struggling’.
However, his plan to right the ship would prove inflammatory for many millions of esports fans.
On stream, he said that the esports industry needs:
… watch parties, co-streaming, and through possible live betting with live viewing… Some of these things are at the core, some of the most social things that we as humans do.
Admittedly, Lengyel then went on to admit that he’s not fully knowledgeable about the state of the esports industry these days:
That is the biggest blocker that would loosen up that tight financial hold there is in esports. I could revolutionize if I was at the helm, but then I’m sure there’s a bunch of stuff that I don’t understand as an outsider.
Thanks to Dexerto for the quotes
Esports betting makes up around half of the market’s overall revenue, and some of the most prolific partnerships and sponsorships are between esports organisations and esports betting sites. The likes of Counter-Strike, League of Legends, and Dota 2 are massive for the gambling industry, and competitive gaming and wagers go together like peanut butter and jelly.
Co-streaming is also huge. For instance, the Call of Duty League’s official broadcast is often beaten out by co-streams hosted by pro players (or former pro players) like Seth ‘Scump’ Abner.
They’re not the ultimate solution, though – the recent FNCS Global Championship managed to score record-high viewership without some of the biggest co-streamers stepping up to broadcast the action.
Over the years, xQc has landed himself in hot water for his incessant promotion of on-stream gambling. His partnership with Kick.com, which is backed by Stake, was as prolific as it was scandalous, going hand-in-hand with a $100 million contract. It’s no surprise that his solution involves gambling, but to be honest, he’s not too far off the mark.
For more Insider Gaming Esports, check out the news that Linkin Park might be covering this year’s LoL Worlds anthem
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