By CultureBanx Team
- Esports is a subculture of gaming and hip hop is very prominent across the industry in several capacities
- By 2025, Esports is expected to surpass $1.87B in revenue
As the esports industry rises in value, hip hop artists and entrepreneurs are seeing the investment opportunities the sector provides. Esports is believed to be the next wave of competitive entertainment and everyone is taking notice, since it’s expected to surpass $1.87 billion in revenue in by 2025, according to Statista. Hip hop in perpetuity is turning up the volume on esports growth by bringing in its loyal fan base.
Why This Matters: Esports is a subculture of gaming and hip hop is very prominent across the industry in several capacities. However, early research on gaming culture alluded to the lack of industry diversity, both in terms of gender as well as ethnicity, and meant that for a long time, primarily white men dominated the American-based video game industry, that has clearly changed. It’s estimated that 380 to 400 million people worldwide will watch esports this year, including 165 million regular esports viewers. Additionally, research firm Newzoo estimated $700 million was spent on esports ventures.
Hip hop’s affinity for video games is not a new found love, as these artists have included video games in their rhymes since the late 80s. Entertainers such as Drake and The Weeknd are already tapping into the cash flow of esports. Drake invested in esports company 100 Thieves in October of 2018, and last month The Weeknd invested in OverActive Media, the parent company of the Overwatch League franchise Toronto Defiant. Also, Sean “Diddy” Combs put several coins into high school esports initiative PlayVS in November 2018, following a $30.5 million Series B funding round. Play VS gives high school students access to competitions and scholarships.
Other rappers including XXXTentacion, Lil Pump, 21 Savage, Lil Yachty and Trippie Redd have played games, primarily Fortnite on Amazon (AMZN -0.52%) owned Twitch.
Situational Awareness: Sneaker culture has long been connected to hip hop and is now being intertwined with esports. Last summer Drake’s 100 Thieves entered into a partnership with streetwear and sneaker reselling platform StockX. These professionals are on the path to become celebrities in their own right and will probably start signing major sneaker deals of their own.
CBx Vibe: “Human Video Game” The Fresh Prince & DJ Jazzy Jeff