In his first study, Quantum Tech Partners, a financial transaction gaming-focused consulting firm, said that the sports industry spent $1 billion in 2019.
The firm is founded by M&A consultancy Jim Perkins and Alina Soltys. The company is also much more optimistic on the forecast for esports sales since it anticipates that market profits should hit $4 billion in 2022, far more than Goldman Sachs forecasts of $2.96 billion and Newzoo’s predictions of $1.79 billion.
In the meantime, M&A in 2019 exceeded $475 million, distributed over 33 acquisitions. Quantum Tech Partners reported that 13 of these deals included the purchase of esports teams.
Not to mention the esports coverage by media giants like Yahoo, ESPN and Turner, as well as the huge rise of esports betting sites worldwide.