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Promoter to pour $50 million into new esports competitions

One Championship's efforts in Asia will culminate in a new tournament.

Zoey Chong Reporter
Zoey is CNET's Asia News Reporter based in Singapore. She prefers variety to monotony and owns an Android mobile device, a Windows PC and Apple's MacBook Pro all at the same time. Outside of the office, she can be found binging on Korean variety shows, if not chilling out with a book at a café recommended by a friend.
Zoey Chong
2 min read
2018 League of Legends World Championship - Finals

Competitive video gaming is growing rapidly.

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It's no secret that Asia is the fastest-growing esports market. And now, One Championship wants a slice of the pie.

The Singapore-based martial arts promoter will organize an effort to pump up to $50 million into the launch of the One eSports championship series next year, One Championship said Wednesday. The tournament and related events will be part of a joint venture with Japanese ad agency Dentsu that also includes partners Razer, the gaming hardware maker, and Singtel, the Singapore telecom.

The announcement comes amid rapid growth in video game competitions, especially in Asia. Global esports revenue is expected to top $900 million this year, according to market researcher Newzoo. Esports debuted as a demonstration sport at this year's Asian Games in Indonesia and is set to become a medal event at the 2022 Asian Games in China.

One eSports will feature "blockbuster" game titles and will host multiple esports events next year, according to One Championship. Specific details such as game titles, the number of events and their locations aren't clear yet, but the esports competitions are expected to sync with One Championship's already scheduled martial arts events. The esports matches will be broadcast live.

"We see a natural crossover between martial arts and gaming fans in Asia and an opportunity to bring them together under Asia's home of millennial live sports," Chatri Sityodtong, chief executive of One Championship, said in the announcement.  

In addition to live event broadcasts, One eSports plans to stream content such as documentaries, reality shows and video blogs across its broadcast platforms in 138 countries.

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