iCandy Interactive, a developer and publisher of mobile games and digital entertainment provider has today announced that it will establish an eSports division for current and future eSports initiatives.
iCandy’s Chairman Kin W. Lau said, ” We are of the opinion that eSports is one of the fastest growing areas in the gaming industry. Having a business unit that focuses on eSports will enhance the business objectives of iCandy, which since listing have included the design, development, commercialization and publishing of mobile games and digital interactive entertainment content for a global audience”.
The eSports industry has seen exponential growth in recent years. The number of eSports viewers increased by 13.8% in 2018, to 215 million people, while global revenues grew 38.2% to US$906 million (AU$1.29 billion). With these figures only set to increase in the coming years, iCandy has identified the eSports industry as the ideal avenue to expand its operations and enhance the commercialisation value of its products.
iCandy’s eSports division will employ a multi-pronged approach in entering the eSports industry, leveraging business partnerships as well as its already extensive user base and portfolio of games.
The company will seek to develop its own mobile games tournament platform, with the potential integration of its over 300 mobile games. Further strategies include cooperating with businesses in the eSports industry to generate new business, providing mobile games within the iCandy’s portfolio to existing eSports platform operators, and cultivating an eSports community within iCandy’s network of 350 million mobile gamers through the provision of digital entertainment services.
Under the eSports Division, iCandy will develop eSports activities that centre around the creation of commercialisation for iCandy and its products. iCandy will be able to monetise its eSports initiatives through in-app or in-game purchases, driven by its eSports tournaments. Furthermore, the viewership stemming from iCandy’s network of 350 million mobile gamers will attract digital advertising and corporate sponsorship. iCandy also has auxiliary income opportunities through online sales of gaming related products and merchandise.
iCandy expects its eSports division to bring in additional revenue-generation business opportunities, in line with the Company’s monetization strategy.