He is a hardworking bilingual graduate of MA Business and Marketing and a certified BEng Electronic and Communication Engineer. The G Legends Cup Finals is set to be streamed on Globe’s GGWP Facebook page on September 24. Ren pointed out that esports is a product of the sports industry and digital society. Ren represented the highest level of attendance from Tencent Holdings, and gave a 10 minute speech called “Drawing the blueprint of global esports” at the beginning of Summit. Pro League (LPL) has also been streaming in five languages, covering multiple countries in the world. Also during the summit, Tencent signed partnership deals with Chinese telecommunications giant China Unicom, tournament organizer VSPN, and Shanghai Juss Sports to build 5G infrastructure in Shanghai Eastern Sports Center. For [the] esports audience, AI can become the shoutcaster and commentator. Watch highlights from the Monaco Virtual Grand Prix Pro Exhibition race, as the stars of the F1 Esports Pro Series fight it out around the streets of Monte Carlo on the official F1 2019 video game. In the past year, Tencent has hosted over 12K esports competitions in 413 Chinese cities, thanks to the government’s support. Below are highlights from some of the speakers who addressed the gathering on June 20: Pictured: Dai Bin, vice general manager of Tencent Interactive Entertainment Market Department. 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Pictured: Cheng “Edward” Wu. This is especially true for two of the major franchise-style tournaments in the region: the. According to esports data company Newzoo’s  projection, the global esports industry generates $1.1B USD total revenues, including sponsorship revenue $456.7M (+34.4%), and media rights revenue of $251.3M (+41.8%). “Despite that esports has widely developed in China, South Korea, and the U.S., esports has grown with high participation and acceptability in Europe, Latin America, and Southeast Asia,” Ren explained at the main stage. A member of the Hainan Resort Software Community (who asked not to be identified) told The Esports Observer that multiple foreign companies, such as Apple and Amazon have shown interest in opening offices in Hainan, due to low taxes and other beneficial policies. Globe has been a supporter of the local esports industry and has since been conducting esports tournaments to promote and boost the gaming scene in the country. We believe, for normal players, AI could help players improve their gaming mechanics. Help improve the synergy between multiple esports sectors in the ecosystem. What’s the future of Chinese esports industry?”. Though young (25 years old), he has over 12-years of esports experiences globally. This is especially true for two of the major franchise-style tournaments in the region: the League of Legends  Pro League (LPL) and King Pro League (KPL). Muralla cor Recoletos Sts. , including sponsorship revenue $456.7M (+34.4%), and media rights revenue of $251.3M (+41.8%). Psyonix uses cookies on this site. Finally, Ren Yuxin, COO of Tencent Holdings, talked about the milestones China has witnessed and been a part of in esports, and how bright the future looks for the sector in the region: “Today, it’s the best time for China esports to grow itself. “The new order will improve the esports commercial value with raising sponsorships and media rights, and also have a profound impact on the global cultural exchange.”, According to Ren, Tencent and tournament organizers hosted over 1.7M, esports competitions over the last year, covering 169 countries and regions. Pictured: Yu Dong, deputy director and distinguished scientist, Tencent AI Lab, Seattle. Credit: Tencent Holdings. “In the whole year of 2018, Tencent Esports received ¥370M RMB ($54M USD) media rights revenue, and ¥280M ($41M) in sponsorship deals from all Tencent related esports tournament,” he added. The top 64 teams of the competition will be given their cash prizes through their respective GCash app. Ren pointed out that esports is a product of the sports industry and digital society. Yadav... © 2020 The Esports Observer - a brand by Esports Business Solutions UG. ... Make sure to follow us on YouTube for more esports news and analysis. Tencent Holdings is one of the biggest technology companies in the world, but its gaming business is undisputed as the top revenue generator in the empire. The information does not usually directly identify you, but the use of cookies enables a faster and more personalized experience for you. At the summit, Jin “Bobby” Yibo, co-CEO of TJ Sports, announced that the LPL will open bids for one to two new franchise spots in 2020, and also will begin seeking partners for the 2020 League of Legends World Championship. BOX769. Know more about what awaits you during the National G Day celebration through https://www.globe.com.ph/help/rewards/g-day.html. P.O. Enter the email address you used for registration. © 2020 Manila Bulletin - Philippine News. Ren also revealed that Tencent has deeply collaborated with state-owned China Central Television, discovering the possibility of 4K and even 8K definition in the esports broadcasting environment. Credit: Tencent Holdings. At the summit, Yu showcased a demo of an AI shoutcaster, which could be used to commentate an Honor of Kings match. “Traditional sports leagues like NBA, La Liga, and F1 are trying to follow esports, and break the ice of offline events suspending due to COVID-19 pandemic,” Ren said. In a short message to mark the start of the annual National G Day, Globe President and CEO Ernest Cu shared that this is also the firm’s way of helping Filipinos adapt to the digital lifestyle. Pro League (LPL) and King Pro League (KPL). He is super passionate on esports as a whole, and also a hardcore Dota 2 player, 5400+MMR, top 0.8% in the world. In addition, China’s top League of Legends competition, the League of Legends Pro League (LPL) has also been streaming in five languages, covering multiple countries in the world. Yadav... © 2020 The Esports Observer - a brand by Esports Business Solutions UG. “‘Sportlization’ means the esports needs a legal leader/body to set up [a] unitive regulation and standardization, such as players’ registration and management system, and referee decision system,” said Jizhong.“Those three elements (populization, globalization, and sportlization) will bring esports to the next level.”. Ren attributes this to China’s development direction of “new Infrastructure,” and commercial use of 5G technology. -related tournament series. . Also during the summit, Tencent signed partnership deals with Chinese telecommunications giant China Unicom, tournament organizer VSPN, and Shanghai Juss Sports to build 5G infrastructure in Shanghai Eastern Sports Center. In addition, the tech conglomerate highlighted the importance of artificial intelligence in esports, and competitive gaming’s cultural significance in China, and along with other key insights. Under the flow of a new technology revolution, esports and technology will deeply integrate. Hongyu "Eddie" Chen serves as a bridge between China and the West's esports scenes. The KPL is Tencent’s top competition for its mobile esports title, Honor of Kings, and is fully operated by Tencent Games. Sources told The Esports Observer that the bid price of a spot would be a minimum of ¥80M RMB ($11.63M), and that the buyer would need a strong reputation and business background. In fact, the combination of AI and esports can generate unlimited possibilities and opportunities. Both these franchise-style competitions include franchise slot fees and sponsorship revenue-sharing with league teams. “Esports also learns traditional sports in tournament system building, talent training, and global collaboration.”. In March, Central Politburo Standing Committee of the Communist Party of China announced that the country would accelerate the process of building 5G infrastructure, and expects to build over 600K 5G base stations across the country by the end of 2020. Trending Articles. with TJ Sports, creating exclusive apparel for teams, their staff, and stage talent. On June 20, Tencent Holdings  and the Hainan government held the Tencent Global Esports Annual Summit in the Hainan Boao Asia International Conference Center. It will also provide new energy to recover the global economy during the COVID-19 pandemic. “Esports has a sustainable business model and flexible development space, which makes esports an excellent business.” Bin explained that, in the first half of 2019, Tencent Esports has generated ¥460M RMB ($66M) revenue in media rights, and ¥440M ($64M) in sponsorship deals of all Tencent related esports tournaments.