In addition, you can check out these other stories related to the latest video game business trends:
Alex Rodriguez, Shaquille O'neal, and Magic Johnson are only some of the professional athletes getting involved in the biggest and newest sport: Competitive Video Gaming or eSports (Electronic Sports). This past Monday, the Philadelphia 76ers along with a group of investors purchased a professional gaming team by the name of Dignitas along with Team Apex - most commonly known for their dominance in the free to play mega-hit League of Legends. In acquiring ownership in these two teams, they now enter the arena in games such as Overwatch, Counter Strike: Global Offensive, Heroes of the Storm, and Smite. See the video below for more details.
In addition, you can check out these other stories related to the latest video game business trends:
The video game industry continuously expanding and competitive electronic sports (eSports) are becoming common place in the mainstream. Wherever you go, you are almost guaranteed to meet people interested in video games. It is becoming just as easy to kick up a conversation with a stranger regarding the latest Destiny DLC as it used to be to start a conversation about the latest Eminem album. Video games are the new entertainment, and they are not only here to stay - they are here to dominate.
A wise man (The Joker, The Dark Knight) once said "If you're good at something, never do it for free". So we have a lot of people playing video games, that's obvious - but what happens if you're good and want to make some money doing it? Where do you go?
As it stands right now, most worthwhile gaming competitions require a fair amount of travel accommodations to participate. These competitions aren't as common as they could be. The dates and venues are inconsistent and who's to say if your game of choice will even be hosted. These travel accommodations can get expensive for a gamer (usually a younger guy, without much disposable income and most of his time spent practicing his game and perfecting his skill). If you have managed to get out to enough of these events and place among the top tier teams, some companies will sponsor your team and pay for said travel accommodations. These sponsorships usually tend to be short-lived as many competitive teams disintegrate without enough consistent events to keep the revenue flowing. Unlike other sports, not all the teams are guaranteed to participate, and very few of them will see a dime. In eSports only the best of the best get paid, and those paychecks can be unreliable.
The proposed solution is to have more community driven events for gamers. A place for gamers to practice, build recognition, and possibly earn some cash. I personally have hosted tons of different gaming competitions right through this website for months. We hosted events in NBA2k, Call of Duty, FIFA, Super Smash Brothers, Mortal Kombat and many more, all over Miami. The reality of it is that in order to host these events you need a venue, you need equipment, you need marketing, you need staff. Venues are insanely expensive in Miami even when just renting for a just few hours. Don't forget the costs and risks of providing consoles, games, controllers, and TVs for all participants can get very expensive. All of these things are expenses that need to be covered by revenues.
Here is where it gets discouraging. Generating revenues from local video game competitions is very difficult for several different reasons. The money paid by participants is usually expected as a prize payout for the winning team, or teams. The other option is to provide food and drinks for sale at the venue. Like mentioned earlier, most gamers who have enough time to practice a video game professionally don't have much disposable income because they are still in school and probably not far along into a career. Even if you manage to sell food, drinks, and some other gaming merchandise it will unlikely be enough to cover the overhead expenses, much less make the endeavor profitable. The reality of it for the gamer is this: Why drive somewhere and spend money to play a game I own, when I can sit at home and comfortably do the same thing without spending any money? In a place like Miami, where even taking too deep of a breath could put you outside of your cost of living - this isn't viable.
I think this is simply an extension of the internet-social times that we live in. It is far more comfortable to game from home and chat with friends on a headset than to spend extra time and money just to play face to face with others. Face to face interactions are less and less common, and this applies to everything, including remote jobs, internet-based classes, social media sharing, and of course gaming.
Some hope lies in the fact that the video game market is maturing. The people who grew up playing Goldeneye on N64, split screen with 4 people - the social gamers - are now the consumers. They are the guys with careers and disposable income. However, these are also the guys with families, and commitments. Unfortunately, being a professional gamer is a far cry from what is required of a "grown up".
The reality of it is that if we want the competitive gaming scene in South Florida to blossom, it will require the same sort of investment and structure that is in place for other sports such as basketball, soccer, baseball, and football. We need places for gamers to meet for practice. We need organized community leagues. We need corporate sponsors who can see the opportunities for growth, and marketing. If Adidas can sponsor a community Basketball league, why can't Gamestop sponsor an Overwatch competition?
Please let us know your thoughts, comments, or ideas in the section below!
Entrepreneur is the most overly used word in the business world. Almost everyone dreams at some point of quitting their job and starting a business. The appeal of being your own boss, and doing what you love for a living sounds amazing. Though it can be rewarding, it comes with many sacrifices. There are a few great quotes about what it means to start a business and be an entrepreneur, but by far my favorite is this:
"Entrepreneurship is living a few years of your life like most people won't, so that you can spend the rest of your life like most people can't"
I highly suggest that if you ever have the chance to dedicate yourself to starting your own business, that you take that chance. I warn you: that the misconceptions are abundant – but so are the learning experiences.
Lesson #1 Saving Money:
Just because you can spend it – doesn’t mean you should. Success is when opportunity meets preparation and there is nothing more disheartening than being presented with a great opportunity to invest in yourself and not having the capital to do so. It comes down to discipline and reminding yourself of your long term goals. Would you rather go out to dinner regularly or save up and invest in your business? Short term sacrifice for long term success is key. How bad do you want it?
Lesson #2 Patience:
When you are funding yourself, and putting your own time into projects and tasks you tend to be a lot more aggressive. Time is money – literally. Every second that goes by without you making money you are actually losing money. You will soon notice that as with many things in life it is all about timing. Sometimes you need to wait patiently with your tools in hand ready to pounce on the opportunity. When someone isn’t ready to buy, you run the risk of being pushy and annoying them. Your job is to make the product visible to them – not force it down their throat. As a business owner you will be forced to learn the careful balancing act between being aggressive and being patient.
Lesson #3 Discipline:
When there isn’t a supervisor to assign you jobs and point you in the right direction it will be up to you to decide what needs to get done and when it needs to get done by. Being able to bypass distractions and get things done without any push or persuasion from anyone is an admirable feat. All the weight will rest solely, or sorely, on your shoulders. Without having someone tell you what time to come into work and what time you have to stay until – it is your responsibility to fill your days with meaningful tasks and complete them in a timely fashion. Having the willpower and initiative to keep yourself productive is a characteristic which is useful in any terrain.
Lesson #4 Appreciation:
You never really realize how much goes into bringing a finished product to the market until you get behind the wheel. The amount of paper work, research and planning, and grunt work that it takes just to get off the ground will surprise many. In order to save money you will need to play several roles: sales person, accountant, graphic designer, event planner, web designer. You will need to force yourself to learn – A LOT. Most importantly, you will learn to appreciate customers and you will learn to appreciate other business owners. You will see the struggle behind the products and the reward of a satisfied customer.
Lesson #5 Faith:
Probably the most important lesson to learn from starting a business is faith. In my opinion, this is what makes or breaks businesses. This is the sole determining factor of success. When you start a business you will make mistakes. You will lose money. You will get criticized. The failures are what mold you into something stronger. In order to succeed you need to look at each failure as an experiment. You must learn to put your feelings aside, take a look at the loss and ask yourself where you went wrong. What can you do to improve? If you step away from a loss without learning anything – only then is it considered a failure. Avoid pointing blame at others because you can only control your own actions.
Lastly I want to finish with a quote, yes "another one" (DJ Khaled voice):
"Far better it is to dare mighty things, to win glorious triumphs, even though checkered by failure, than to take rank with those poor spirits who neither enjoy much nor suffer much because they live in the gray twilight that knows neither victory nor defeat.”
— Theodore Roosevelt (26th President of the United States)
Competitive gaming is becoming more acceptable as a sport. Recently, a Heroes of the Storm competition was broadcast on ESPN2 and stirred some controversy as to whether eSports are actually considered sports. Serious gamers are making a comfortable living doing what they love. Where are the revenue streams you ask? Here are just a few:
In conclusion, video games are here to stay and their popularity as a sport is rapidly growing. Check out the documentary below which details the lavish lifestyles of some of the gaming industry's most successful players:
One of the biggest and most talented artist in the hip-hop industry, Eminem, is responsible for advancing hip-hop culture as a whole. Recently, Complex Magazine sat down with Eminem and his team to produce a great mini-documentary on the growth of the artist and the brand. Check it out below:
*UPDATE: Complex magazine recently removed the video from their channel so I have replaced it with the same video but with Spanish subtitles. Enjoy, and I hope you learn some Español.
If you say you don't have time for something, you are probably lying to yourself. Often times when I am speaking to someone about achieving a goal or working on a project, the discussion comes to an abrupt close when they tell me "Yeah I'd love to, but I don't have time". The reality of it is that time is usually abundant, and it's just a matter of cutting out other activities that aren't as critical in getting to where you want to be.
Now I understand that some people work multiple jobs, go to school, or may have kids to look after. However, take a look at your weekly schedule and what you spent your time doing. Did you spend more time recreating than you should have? It's important to slow down every now and then to enjoy life and the people who matter to us. Remember though, that in order to achieve our goals sacrifice is necessary and often times these goals will require a significant amount of time. Here are a few tips that have helped me to prioritize:
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