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Expand chart
Reproduced from Newzoo; Chart: Axios Visuals 

The global esports market is expected to surpass $1 billion this year — a 27% increase from last year — thanks to the explosive growth of brand sponsorships and media rights, according to the latest forecast from esports data company NewZoo.

Why it matters: More brand sponsorships means that companies see esports as a prime opportunity to get in front of younger audiences that could be big spenders. In total, NewZoo says sponsorships have grown by more than 30% since last year.

Brands still make up the majority of revenue that flows into esports, even if not for direct brand sponsorships. In total, about 82% of the total market will come from brand investments that include sponsorships, but also media rights and advertising.

Yes, but: Like the traditional sports business market, the fastest-growing esports revenue stream is by far media rights. (It's worth noting, however, that the NewZoo estimate doesn't included winner pools, betting, etc.)

Be smart: The North American esports market, which represents roughly 40% of the global market, is by far the largest esports market globally today. China, whose tech giants invest heavily in building esports businesses and culture, is set to overtake western Europe as the second-largest region in terms of revenues this year.

Go deeper:

Go deeper

Dan Primack, author of Pro Rata
5 mins ago - Economy & Business

Gen Z breaks into VC

Illustration: Aïda Amer/Axios

When Meagan Loyst joined VC firm Lerer Hippeau, less than two years out of Boston College, she was still living with her parents. She had virtually no online brand presence, and the pandemic made it impossible to build a professional network via in-person meetings.

Why it matters: Loyst wasn't alone. Venture firms have accelerated hiring in line with record deal activity, often seeking younger investors who can spot trends that fly below the radar (or intrinsic understanding) of older partners.

White House aims to protect workers from extreme heat

Two pear pickers in Hood River, Oregon on August 13, 2021. (Michael Hanson/AFP via Getty Images)

The White House announced a slew of actions Monday, including the start of a rule-making process at the Occupational Safety and Health Administration (OSHA), to protect American workers from extreme heat.

Driving the news: The U.S. just had its hottest summer on record, with triple-digit-temperatures killing hundreds in the Pacific Northwest and exposing outdoor workers to dangerous conditions.

Robert Costa: Gen. Mark Milley "was not going rogue" with China calls

Washington Post journalist Robert Costa on Monday said in an interview with ABC's Good Morning America that Joint Chiefs Chairman Mark Milley "was not going rogue" when told his Chinese counterpart that the U.S. would not launch a surprise attack.

Driving the news: President Biden last week expressed "great confidence" in Milley after excerpts released from Costa's and Bob Woodward's book "Peril" revealed calls where Milley admits he would let China know ahead of time if former President Trump decided to attack.

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