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The eSports Boom, and the Numbers Behind the Sector’s Explosive Growth

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The oldest professional sport teams can trace their start back to the mid-19th century, a period when casual past times such as baseball or football transitioned into more organized leagues.

Since this tipping point, pro sports has thrived around the world, and the business of sports has evolved into a multi-billion dollar ecosystem for teams, leagues, players, merchandisers, sponsors, broadcasters, and event spaces.

Today, this evolution still continues – and it is being driven by the emergence of eSports (electronic sports), an exciting frontier for fans and business alike.

eSports Extravaganza

Today’s chart breaks down the eSports boom, including data on the sector’s rapid growth, prize pools, and the most valuable eSports companies today.

Visualizing the eSports Boom, and the Numbers Behind Its Explosive Growth

Despite having a reputation in the media and in popular culture as being on the fringes, it is clear that gaming is now a truly mainstream phenomenon.

In fact, the global gaming industry has now eclipsed $135 billion in revenue worldwide – a figure that is twice as much as the film and music industries combined.

With hundreds of millions of avid fans around the world, demand to watch the most elite gamers has reached a fever pitch – and now, it’s not uncommon to see sold-out arenas, big name sponsorship deals, and massive prize pools in the name of eSports.

Defining the eSports Ecosystem

Like any professional league, eSports creates the foundation for an entire ecosystem of opportunities.

Players
Players are central to the ecosystem, since they are the stars and they have their own personalities. One famous star is Kuro Takhasomi (KuroKy), who has brought in a whopping $4.2 million in prize money from Dota 2 tournaments so far. He has earned more than any other player in eSports.

Teams
Because the games played are mostly team-based, there is a crucial element of teamwork involved. eSports franchises are currently selling for millions of dollars. It’s worth noting that these franchises don’t just employ players – they also hire staff that can better ensure the success of players, such as coaches, trainers, and personal chefs.

Games and Developers
Some of the most important games in the eSports world right now include: Dota 2, Counter-Strike, League of Legends, Overwatch, Fortnite, and Call of Duty.

Competitions
Leagues and tournaments can offer massive prize pools for players. The biggest single pool so far was $25.5 million, offered for a Dota 2 tournament in 2017 (“The International”). It’s the second-largest prize pool offered in any kind of sport, behind the U.S. Open (tennis).

Organizers
Running eSports events is big money, and organizers of events can tap into sponsorship and fan revenue. Sometimes game publishers will organize the events, but third-party ones also exist in the ecosystem.

Sponsors
Sponsors like Coca-Cola, Intel, and Mercedes-Benz have shelled out millions of dollars to sponsor events and reach the massive audiences associated with eSports. In more recent news, SAP signed a deal to sponsor one of the biggest names, Team Liquid.

Broadcasters
Broadcasters, both traditional and online (YouTube, Facebook Live, Twitch, etc.), are also in to get a part of the action. Recently, game developer Blizzard signed a broadcasting deal with Disney to broadcast Overwatch League playoffs on ESPN, ABC, and Disney XD.

What do you think is the most exciting part of the eSports boom, and why?

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Technology

Ranked: The Most Popular Paid Subscription News Websites

Many consumers are reluctant to pay for their news, but those that do turn to trusted sources. Here’s a look at the most subscribed to news websites.

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Ranked: The Most Popular Subscription News Websites

While paywalls are becoming increasingly more popular among news websites, most consumers still aren’t willing to pay for their online news.

In fact, a recent survey by the Reuters Institute for the Study of Journalism reveals that only 20% of Americans pay for digital news, and of those that do, the majority subscribe to only one brand.

This begs the question—which news outlets are audiences willing to pay for?

Using data from FIPP and CeleraOne, this graphic looks at the most popular news websites across the globe, based on their total number of paid subscriptions.

*Note: This report relies on publicly available data, and should not be considered an exhaustive list.

The Full Breakdown

With 7.5 million subscriptions, The New York Times (NYT) takes the top spot on the list. 2020 was an exceptionally strong year for the outlet—by Q3 2020, the NYT had generated the same amount of revenue from digital subscriptions as it had for the entire year of 2019.

RankPublicationPaid Subscriptions
1🇺🇸 The New York Times7,500,000
2🇺🇸 The Washington Post3,000,000
3🇺🇸 The Wall Street Journal2,400,000
4🇺🇸 Game Informer2,100,000
5🇬🇧 Financial Times1,100,000
6🇺🇸 The Athletic1,000,000
7🇬🇧 The Guardian790,000
8🇯🇵 Nikkei769,000
9🇬🇧 The Economist516,000
10🇨🇳 Caixin510,000
11🇩🇪 Bild494,000
12🇬🇧 The Sunday Times337,000
13🇬🇧 The Telegraph320,000
14🇺🇸 The Atlantic300,000
15🇮🇹 Corriere Della Sera300,000
16🇫🇷 Le Monde300,000
17🇺🇸 The Boston Globe270,000
18🇦🇷 La Nacion260,000
19🇦🇷 Clarin260,000
20🇫🇷 L'equipe259,000
21🇺🇸 Los Angeles Times253,000
22🇸🇪 Aftonbladet250,000
23🇺🇸 The New Yorker240,000
24🇵🇱 Wyborcza240,000
25🇧🇷 Folha de S.Paulo236,000
26🇸🇪 Dagens Nyheter208,000
27🇺🇸 Business Insider200,000
28🇫🇷 Mediapart170,000
29🇳🇴 VG150,000
30🇺🇸 Wired142,000
31🇨🇦 The Globe and Mail139,000
32🇩🇪 Welt132,000
33🇳🇴 Aftenposten119,000
34🇫🇷 Le Figaro110,000
35🇺🇸 Chicago Tribune100,000
36🇺🇸 Star Tribune100,000
37🇳🇴 Dagbladet100,000
38🇫🇮 Helsingin Sanomat100,000

The Times is the most popular by a landslide—it has over double the number of subscriptions than the second outlet on the list, The Washington Post. Yet, while WaPo is no match for NYT, it still boasts a strong following, with approximately 3 million paid subscriptions as of Q4 2020.

Japanese outlet Nikkei ranks number one among the non-English news websites. It’s the largest business newspaper in Japan, mainly focusing on markets and finance, but also covering politics, sports, and health.

Legacy Papers: Which Websites Come From Traditional Media?

Most of the websites on this list stem from traditional media. Because of this, they’ve had years to establish themselves as trusted sources, and win over loyal readers.

Interestingly, more than half of the outlets included in this ranking are at least 100 years old.

PublicationYear LaunchedAge (Years)
🇬🇧 The Guardian1821200
🇬🇧 The Sunday Times1821200
🇫🇷 Le Figaro1826195
🇸🇪 Aftonbladet1830190
🇬🇧 The Economist1843178
🇺🇸 Chicago Tribune1847173
🇺🇸 NYT1852169
🇬🇧 The Telegraph1855166
🇺🇸 The Atlantic1857164
🇳🇴 Aftenposten1860160
🇸🇪 Dagens Nyheter1864157
🇺🇸 Star Tribune1867154
🇳🇴 Dagbladet1869152
🇦🇷 La Nacion1870151
🇺🇸 The Boston Globe1872149
🇮🇹 Corriere Della Sera1876145
🇺🇸 Washington Post1877144
🇯🇵 Nikkei.com1876144
🇺🇸 LA Times1881140
🇬🇧 Financial Times1888133
🇺🇸 Wall Street Journal1889132
🇫🇮 Helsingin Sanomat1889132
🇧🇷 Folha de S.Paulo1921100
🇺🇸 The New Yorker192596
🇨🇦 The Globe and Mail193685
🇫🇷 Le Monde194477
🇦🇷 Clarin194576
🇳🇴 VG194576
🇫🇷 L'equipe194675
🇩🇪 Welt194675
🇩🇪 Bild195269
🇵🇱 Wyborcza198932
🇺🇸 Game Informer199130
🇺🇸 Wired199328
🇺🇸 Business Insider200714
🇫🇷 Mediapart200813
🇨🇳 Caixin200912
🇺🇸 The Athletic20165

Yet, undeterred by these well-established outlets, a few scrappy websites made the cut despite a shorter history. Four out of the 38 websites are less than 20 years old.

The Athletic is the newest outlet to make the ranking. Established in 2016, the outlet’s target demographic is die-hard sports fans who miss the days of in-depth, quality sports writing.

The Need For Trusted Sources

Amidst the global pandemic, issues involving misinformation and fake news have helped reaffirm the important role that trusted news sources play in the dissemination of public information.

With this in mind, it’ll be interesting to see what the future holds for digital media consumption. With paywalls becoming increasingly more common, will consumers jump on board and eventually be more willing to pay for their news?

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Energy

Visualizing the Power Consumption of Bitcoin Mining

Bitcoin mining requires significant amounts of energy, but what does this consumption look like when compared to countries and companies?

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Visualizing the Power Consumption of Bitcoin Mining

Cryptocurrencies have been some of the most talked-about assets in recent months, with bitcoin and ether prices reaching record highs. These gains were driven by a flurry of announcements, including increased adoption by businesses and institutions.

Lesser known, however, is just how much electricity is required to power the Bitcoin network. To put this into perspective, we’ve used data from the University of Cambridge’s Bitcoin Electricity Consumption Index (CBECI) to compare Bitcoin’s power consumption with a variety of countries and companies.

Why Does Bitcoin Mining Require So Much Power?

When people mine bitcoins, what they’re really doing is updating the ledger of Bitcoin transactions, also known as the blockchain. This requires them to solve numerical puzzles which have a 64-digit hexadecimal solution known as a hash.

Miners may be rewarded with bitcoins, but only if they arrive at the solution before others. It is for this reason that Bitcoin mining facilities—warehouses filled with computers—have been popping up around the world.

These facilities enable miners to scale up their hashrate, also known as the number of hashes produced each second. A higher hashrate requires greater amounts of electricity, and in some cases can even overload local infrastructure.

Putting Bitcoin’s Power Consumption Into Perspective

On March 18, 2021, the annual power consumption of the Bitcoin network was estimated to be 129 terawatt-hours (TWh). Here’s how this number compares to a selection of countries, companies, and more.

NamePopulation Annual Electricity Consumption (TWh)
China1,443M6,543
United States330.2M3,989
All of the world’s data centers-205
State of New York19.3M161
Bitcoin network -129 
Norway5.4M124
Bangladesh165.7M70
Google-12
Facebook-5
Walt Disney World Resort (Florida)-1

Note: A terawatt hour (TWh) is a measure of electricity that represents 1 trillion watts sustained for one hour.
Source: Cambridge Centre for Alternative Finance, Science Mag, New York ISO, Forbes, Facebook, Reedy Creek Improvement District, Worldometer

If Bitcoin were a country, it would rank 29th out of a theoretical 196, narrowly exceeding Norway’s consumption of 124 TWh. When compared to larger countries like the U.S. (3,989 TWh) and China (6,543 TWh), the cryptocurrency’s energy consumption is relatively light.

For further comparison, the Bitcoin network consumes 1,708% more electricity than Google, but 39% less than all of the world’s data centers—together, these represent over 2 trillion gigabytes of storage.

Where Does This Energy Come From?

In a 2020 report by the University of Cambridge, researchers found that 76% of cryptominers rely on some degree of renewable energy to power their operations. There’s still room for improvement, though, as renewables account for just 39% of cryptomining’s total energy consumption.

Here’s how the share of cryptominers that use each energy type vary across four global regions.

Energy SourceAsia-PacificEuropeLatin America
and the Caribbean
North America
Hydroelectric65%60%67%61%
Natural gas38%33%17%44%
Coal65%2%0%28%
Wind23%7%0%22%
Oil12%7%33%22%
Nuclear12%7%0%22%
Solar12%13%17%17%
Geothermal8%0%0%6%

Source: University of Cambridge
Editor’s note: Numbers in each column are not meant to add to 100%

Hydroelectric energy is the most common source globally, and it gets used by at least 60% of cryptominers across all four regions. Other types of clean energy such as wind and solar appear to be less popular.

Coal energy plays a significant role in the Asia-Pacific region, and was the only source to match hydroelectricity in terms of usage. This can be largely attributed to China, which is currently the world’s largest consumer of coal.

Researchers from the University of Cambridge noted that they weren’t surprised by these findings, as the Chinese government’s strategy to ensure energy self-sufficiency has led to an oversupply of both hydroelectric and coal power plants.

Towards a Greener Crypto Future

As cryptocurrencies move further into the mainstream, it’s likely that governments and other regulators will turn their attention to the industry’s carbon footprint. This isn’t necessarily a bad thing, however.

Mike Colyer, CEO of Foundry, a blockchain financing provider, believes that cryptomining can support the global transition to renewable energy. More specifically, he believes that clustering cryptomining facilities near renewable energy projects can mitigate a common issue: an oversupply of electricity.

“It allows for a faster payback on solar projects or wind projects… because they would [otherwise] produce too much energy for the grid in that area”
– Mike Colyer, CEO, Foundry

This type of thinking appears to be taking hold in China as well. In April 2020, Ya’an, a city located in China’s Sichuan province, issued a public guidance encouraging blockchain firms to take advantage of its excess hydroelectricity.

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