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Esports industry contracts as commercial challenges curb peak market expectations

The Hollywood Reporter reports that professional esports groups have fallen sharply despite solid tournament viewership.

Updated Sep 8, 2026 · 18:47 UTC1 reports

The short version

  • The count of elite competitive gaming organizations declined from approximately 300 in 2022 to fewer than 100.[The Hollywood Reporter]
  • Major titles still attract large audiences, with the 2024 League of Legends finals drawing a peak of 50 million viewers.[The Hollywood Reporter]
  • FaZe Clan went public at $13 per share in July 2022 but was delisted at 18 cents within 18 months.[The Hollywood Reporter]
  • Overall global industry market value estimates vary widely, ranging between $2 billion and well above $5 billion.[The Hollywood Reporter]

Key facts

  • The count of professional esports organizations dropped from roughly 300 in 2022 to fewer than 100.[The Hollywood Reporter]
  • The 2024 League of Legends finals recorded 50 million peak viewers and an average of 33 million viewers per minute according to Riot Games.[The Hollywood Reporter]
  • FaZe Clan debuted on the NASDAQ in July 2022 at $13 per share and was delisted at 18 cents within 18 months.[The Hollywood Reporter]
  • Activision's Call of Duty League reached an average of 109,000 concurrent viewers per match, accumulating over 45 million hours watched in its season.[The Hollywood Reporter]

What remains uncertain

  • Estimates for the size of the worldwide esports market remain imprecise, ranging from $2 billion to well above $5 billion according to Dr. Tobias Scholz.[The Hollywood Reporter]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.