Esports data and analytics company Shikenso Analytics has revealed that the recently concluded 2023 League of Legends World Championships (Worlds 2023) created a media value of more than €133m (~£114m).
According to Shikenso, this is a record in the world of esports. In comparison, the Mid-Season Invitational in League of Legends was valued at around €66m (~£56.6m).
Further highlighting the effect of the League of Legends event, this year’s BLAST.tv Paris Major, the last CS:GO Major event, garnered around €46m (~£39.4m) in media value. IEM Cologne, another event Shikenso analysed, generated €31.28m (~£26.7m) of value.
The data provided by Shikenso to Esports Insider was through the company’s Esports Radar, a media value and audience report tool. Combining insights with other event data lets companies, such as Shikenso, create an approximate monetary value of an event.
The overall media value of an event is calculated using a variety of factors such as branded impressions, the location of viewers, and the cost of advertising. Shikenso gets its insights through its AI tool that analyses the placement of sponsor and partner logos on streams, which allows it to calculate the value brands get via exposure to the audience.
In addition to the value of the event, Shikenso also shared that almost half of Worlds 2023’s total media value was created by co-streams. This approach has proven to be incredibly positive for viewership, which in turn translates to exposure for brands that advertise at the event. More than 90% of all viewers were older than 18 years, and 88.2% of those viewers were male, with just under 12% of female viewers tuning in.
Interestingly, Shikenso also calculated that Amazon Web Services (AWS) as the top sponsor in media value, with around €22.6m (~£19.4m) generated. Mercedes-Benz and Red Bull ranked second and third.
Tarik Amhamdi, CEO at Shikenso, commented: “A unique aspect of the League of Legends World Championship is its diverse use of sponsorship assets. The rotating rift banners, a staple in the event, gain special significance as they are prominently displayed during the most intense moments of the game.
“Additionally, this year sees a variety of other sponsorship assets like branded cups, chairs, and ‘Featured Matchup’ format, all contributing to the event’s heightened media value.”
Alongside working on events, Shikenso has teamed up with a multitude of notable esports organisations to analyse its sponsorship performances. Just in 2023 alone, the company has secured collaborations with Fnatic, Ninjas in Pyjamas, G2 Esports, M80 and Team Vitality, among others.
Shikenso’s Esports Radar report on the 2023 League of Legends World Championships is available on the ESI Marketplace!