BEIJING, Aug 18 — Ten years ago, screaming media headlines called it “electronic heroin” with parents staging interventions and enrolling their kids in detox centres.
Today, China’’s hooked on video gaming.
Professional e-sports tournaments attract huge crowds. The players are enjoying newfound fame, and the government is cheering from the sidelines.
By some estimates China has 100 million esports fans across the country, with many of them watching tournaments live or online.
China’s state media now claims the country has the biggest esports market in the world — sponsorships, endorsements, and tickets to events clocked in at US$4 billion (RM16 billion) last year.
Tech giant Tencent already OWNS Riot Games, creators of League of Legends. But other big names also have skin the game including Alibaba, which has put up billions in prize money.
Former player Li Jun started out as a superstar player and now helps organise tournaments.
“Esports in China is driven by the market, and now governments are getting ingolved. It’s helping industries like advertising, retail goods, even real estate. So of course the government would notice this,” he says.
Officials are hoping double-digit growth will help contribute to their big project: turning China into a consumer-driven economy.
But experts warn that although fans are going crazy about the game today, all the money flowing in could create a bubble. And that could mean game over when the money stops coming in. — Reuters
