Electronic sports (eSports) media company Esports Mogul (ASX: ESH) is continuing its rapid rate of customer acquisition by adding a further 217,649 users to its online eSports tournament gaming platform Mogul Arena over the past 2 weeks.
Its performance means the company has almost quadrupled its existing number of user registrations in less than one month.
Esports Mogul attributes the parabolic 390% monthly increase in user numbers to “accelerated marketing activity” and notes the recent launch of its Asian tournament series for popular games titles Counterstrike Go and DOTA 2 (Defence of the Ancients) in partnership with Mineski, as the key reasons behind its stellar company metrics in March.
In addition to raw users, Esports Mogul reports that one of its newest features, Esports Elite, also continues to post strong growth figures as users “flock” to engage with the innovative model of interaction between the company, gamers and elite gaming teams who are quickly becoming role-models for gamers.
According to Esports Mogul, since the launch of the feature, over 141,000 votes have been placed by eSports enthusiasts and gamers, at an average of more than 14,000 votes per day.
The dawn of eSports
‘Esports’ is a novel take on traditional gaming that has grown in popularity since the late 1990’s in parallel with the strong growth in internet connection speeds, computer sophistication and a mushrooming game development industry that now eclipses revenues generated by blockbuster Hollywood movies and popular music artists.
As a newly-born market niche, eSports has quickly become one of the fastest growing industries in the world. Industry figures estimate that there are currently 2.2 billion gamers across all platforms globally with the total video game market totalling US$116 billion in 2017.
Esports events routinely attract thousands of people to watch professional gamers compete in highly-competitive tournaments, in addition to millions who watch the event online. Events are also recorded and can be offered to viewers later through video on demand (VOD) or streaming services.
By combining a suite of gamer-focused features through its Mogul Arena platform, Esports Mogul hopes to attract the next generation of consumers that are more interested in interactive gaming as opposed to traditional media such as television.
The so-called ‘cord-cutters’ are typically millennials who tend to be more attracted to gaming, online content platforms and online social features when it comes to discretionary spending.
One of Mogul Arena’s core features is allowing eSports enthusiasts to follow elite gaming teams that compete in high-profile competitions broadcast online. The guaranteed prize-money pools at some of the largest competition can reach into the millions of dollars, thereby putting them on a par with actual sports events currently being pursued by professional athletes.
Following today’s news, Esports Mogul says that commercialising the rapid growth in its user-base remains the key focus with “monetisation features currently in development”.
“We are thrilled to have such a high increase in user acquisition numbers as well as an extraordinary level of engagement from our latest Esports Elite feature. We look forward to giving the market further regular updates, not only as to user acquisition numbers but also global partnerships and pertinent platform development updates as we now focus on developing and implementing innovative monetisation products,” said Gernot Abl, Managing Director of Esports Mogul.
Shares in EsportsMogul were up 38.5% in early morning trade at 1.8c.