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Tencent bets billions on gamers with more fans than NBA stars

MONEYWEB
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Tencent has placed pro gaming at the heart of its ambition to dominate online entertainment.
By Zheping Huang, Bloomberg
8 Apr 2021
07:41
Image: Hu Chengwei/Riot Games Inc/Getty Images.
At the height of the global pandemic in October, more than 6 000 people packed into a new 25-acre stadium in Shanghai to watch one of the worldâs biggest sporting contests. Another 45 million tuned in online, about as many as watched the six games of the 2020 NBA Finals on TV. The matchup was the League of Legends world championship — a watershed moment for competitive gaming and its organiser Tencent.
Asiaâs most valuable company has set its sights on a billion-dollar esports arena that already boasts more regular viewers than the National Basketball Association or the National Football League. Tencent has placed pro gaming at the heart of its ambition to dominate online entertainment, from mobile games and video streaming to social media. Itâs betting that esports will entice and retain the internet audiences it needs and eventually grow to something approaching the $10-billion-plus NBA.

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