How To Diversify Your Revenue Streams With Esports & Gaming Subscriptions

Esports and gaming are no longer can be categorized as only a juvenile hobby that is linked with a specific age group. Today, people of all age groups show a keen interest in graphically rich and competitive online games. Internet and advanced gaming equipment have facilitated online gamers to play just like people do in real-world sports arenas. Players with the passion to win, sponsors investing their money on different teams, fans cheering for their favourite players, and enthusiasm that motivates everyone in the gaming zone are all present in the digital world as well.

South Korea is considered the country that introduced the concept of esports, and it has been leading the market when it comes to gamers, gaming equipment, and international esports tournaments. China even recognizes esports as the official sport, and recently it is has become the esports market leader. The US is also playing a great role as it has emerged as one of the hubs of game development companies.

You see the big economies of the world are involved in the esports business market. We have come up with some subscription business-related facets of this market. You will find the details about the esports subscription business and the role of esports subscription management systems in opening the doors of new business opportunities. If you are already into gaming and esports, then offering subscriptions for your esports services can become a new revenue earning opportunity for you as well.

Also Read: You Need A Recurring Revenue Stream to Draw Success in 2021 And Onwards

Subscriptions for Esports

The craze for video games is not new, but certain factors have rejuvenated the interest of gamers in modern gaming equipment. Improved graphics of games, the engaging plots of the new video games, better screen control, multiplayer esports, and a sense of accomplishment can make anyone addicted to advanced video games.

Now, if you want to cater to ever-increasing gamers in this digital arena you need a business that can help you today and in the future. Subscription billing is one such business model about which experts predict that it is going to be the basic need of those businesses that offer services and products that people need recurrently.

New gaming gadgets and graphically improved games are expensive that not all gamers can afford them. Then how would you facilitate your customer base? Subscription billing offers the best solution for this problem. Online gaming services providing platforms can get their money, and gamers get satisfaction affordably by paying in the form of recurring billing charges. Subscription billing has not only become a source of revenue diversification for esports companies but is also feasible for gamers.

According to Microsoft, ‘The time that people dedicate to gaming has increased since the subscriptions are introduced for esports.’

An exclusive flat fee for an advanced game can be a source of revenue. But subscriptions for the same game can not only increase your customer base but also diversify your revenue stream. You can charge gamers recurrently for the game that would otherwise cost them more money. For instance, if eCommerce subscription businesses can offer plan upgrades to their customers, then esports services can also offer their gammers the option to share subscriptions, gift subscriptions, and customized subscriptions and make gaming subscriptions the big source of earning from various revenue streams.

Microsoft offers gamers an amazing Xbox Games Pass, and what makes it more ravishing for video game nerds is that the pass is not only for the Xbox gamers but for PC gamers as well. The games that they offer are optimized for PC screens as well. See, Microsoft is catering to gamers at all platforms and diversifying its revenue streams.

Also Read: Subscription-Based Business Model Explained-Proliferate Revenue Opportunities with Recurring Billing

The options to earn more through esports services have increased since the pandemic spread across the globe. Let team SubscriptionFlow help you have a cursory glance over the gaming market during tough times of pandemic spread.

How Pandemic Boosted the Esports Subscription Business

At the end of  2019, the world was introduced with a misery named Covid. Worldwide lockdowns and social distancing rules were implemented on an immediate basis. And people needed some healthy activities to stay at home yet remain entertained. So, there was a hike in the number of subscribers and the period that people spent on online gaming.

According to a global review shared on Statista, ’60 per cent of gamers who subscribed to some gaming services accepted that they have been spending more time on gaming since the pandemic hit the world.’

If you have not devised a subscription plan for your online gamers, then now is the right time. The market is filled with gaming geeks, you just need to offer them subscriptions that they can afford.

Streaming Services Providers Paving the Ways to Enter Esports Market

Streaming services providers, especially Netflix is considered the trendsetter when it comes to subscription billing business model in the digital realm. As per the recent news, Netflix is now ready to enter the esports and gaming market. They have not shared the details of the plan, but they are all set to explore the new business market and target a new customer base. And why not! The foundations are already established for them. They can use their existing subscription management software for esports subscribers management.

It is expected that they will feasibly turn gamers into subscribers. The thing that you need to perceive is, other businesses are also paving their way to use the video game addiction of many people to develop a new revenue stream and direct it to their core business.

The existing esports and gaming services offering platforms have a fair chance of finding new ways to earn revenue in the video gaming market.

Also Read: Every Business Can Stream Recurring Revenue—Learn How Subscriptions Have Already Created the Ripple Effect in Some Industries

How SubscriptionFlow Can be Helpful in Managing Gaming Subscriptions?

If you want to come up with an effective esports subscription plan, then you need gaming subscription management software, and SubscriptionFlow is the platform where all your business needs will be fulfilled because here:

  • You will structure the gaming subscription plan that no gamer would resist.
  • You can manage subscriptions of all gamers.
  • Offer price for the subscription plan that will bring entertainment for gamers and revenue for your esports business.
  • Bill your gamers without any error.
  • Get recurring payments on time.
  • Use business analytics that will help you improvise your gaming subscription plans with time.
  • You will also get dunning management and a way to communicate with gamers to recover your payments.

Also Read: Subscription-Based Services – Opportunities for Growth through Innovation

If you need subscription management software for esports subscribers, then you can contact experts of SubscriptionFlow right away. They also offer consultancy. You will be able to devise the best esports subscription plan to offer a library of games to your gamers. With them, you will get a chance to explore other revenue streams as well for your esports services business.