麦格里集团-电子竞技-esports insights the summoners and the champions-20170629-macquarie

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1、GLOBALeSportsInsightsTheSummonersandtheChampionsRiot'srecentannouncementsonitsLeagueofLegendsfranchisingmodelinbothChina(whereitplanstobuildaUS$15bneSportsindustryinthenextfiveyears)andtheUSaddcertainty,inourview,totheprofessionalizationofeSports,andcouldp

2、otentiallyacceleratetheindustry’snear-to-mediumtermoutlook.KeyattributesoftheeSportsleaguestructureinclude:Theendoftherelegationsystem.Ratherthanfacingthechanceofrelegation,theteamswillnowhavepermanentleaguespots,addingtothestructuralstabilityandensuringt

3、helong-termcommitmentfromstakeholders.Overhaulofthedevelopmentalleague.Eachproteamwillfieldaminorleagueteamtofostertalentsimilartothatintheprofessionalsportsleagues.LeagueofLegendsChampionsLocalisationofteams.FirstmentionedinChina’sLOLleaguebutlikelytobe

4、PhotocourtesyofRiotGamesadoptedintheUS.Havingcity-basedteamscouldpotentiallyexpandtheMacquarie’seSportsThesisaddressablemarketandviewership,andenhancethevalueofmediarights.eSportsisbecominganimportantpartofgameFaireconomics.The“35%player/32.5%team/32.5%le

5、ague”economicspublishers’businessstrategyandwillcontinuetogainmainstreamtractionduetogrowingviewership,shareinNorthAmericaprovidesROIvisibilityfortheinvestors,andpropersponsorshipandinvestmentsfromprofessionalsportsincentivefortheplayers.WeexpectotherLOLle

6、aguestohavesimilarmodel.organizations.Inthemed-term,eSportscouldgainOlympicsstatusastheIOClookstoaddeventsthatThecreationofaplayers’association.Wethinkthiscouldbethebeginningofhaveglobalappeal.Inthelong-term,mobileeSportsaplayers’union(oneofour10predictio

7、ns)andcouldattractadditionalplayerswilldriveindustrygrowthbycateringtoabroadaudiencewithmassappealwhileVR/ARwillenhanceintotheindustryduetoincreasedprotection.eSportsviewingexperienceandcompetitivedynamic.Webelievethatthestabilityfortheteamowners,theplayer

8、s,and,moreThematicReportsLink1,Link2,Link3importantly,thefinancialinvestorsareofgreaterimportanceoverthepotentialAnalyst(s)near-termdilutioninthecompetitivelevelgiventhattheeSportsindustryMacquarieCapitalMark