NEW YORK, Nov. 11, 2020
Esports leader Vindex is first company exclusively in the videogame industry to join WEF
NEW YORK, Nov. 11, 2020 /PRNewswire/ -- Vindex, the leading global esports infrastructure company, today became the first company exclusively in the videogame industry to join the World Economic Forum's Global Innovators Community, a select group of the world's most promising "scale-ups" at the forefront of technological and business model innovation.
"We are honored to be the first company exclusively in the videogame industry to join the World Economic Forum's Global Innovators Community," said Mike Sepso, CEO of Vindex. "Esports is a global phenomenon, and the videogame industry is expected to hit $175 billion this year – more than movies, music, and many other sectors in entertainment. Vindex will work with the World Economic Forum to broaden global understanding of esports and work with private and public member organizations to promote the role of esports and gaming as a worldwide economic driver."
Global innovators are selected by the World Economic Forum and must meet specific criteria. They are at the forefront of technological and business model innovation and are invited to engage with one or more of the World Economic Forum's platforms to help define the global agenda on key issues. Vindex will participate in the "Shaping the Future of Media, Entertainment and Sport" platform to help build awareness for esports and gaming within the global community and further accelerate growth and understanding of the esports industry on a global scale.
Esports has been gaining popularity over the last decade and has only increased in audience and revenue– even in a pandemic. According to McKinsey & Company (using research provided by Newzoo), the esports industry hit $950 million in revenue in 2019 and is expected to reach $1.1 billion this year, with esports audience viewership also projected to hit close to 500 million. The research forecasts the videogames market will continue to grow, exceeding $200 billion at the end of 2023, a nearly 9% CAGR.
"We're thrilled to have Vindex join the Global Innovators Community because the company will be instrumental in helping to showcase the potential of gaming within the larger picture of entertainment and media," said Kirstine Stewart, Head of Shaping the Future of Media, Entertainment and Sport platform, World Economic Forum. "Vindex is the first company exclusively in the videogame industry to join the World Economic Forum and will be working with us on projects exploring new business models in our sector. This work paves the way for greater knowledge and adoption of esports and gaming worldwide, which will directly influence the growth of other key industries."
Vindex is a first-of-its-kind global esports infrastructure and solutions platform with a mission of providing the technology, services, innovation, and experiences to help take esports to the next level. The company launched in 2019 with $80M in capital to create a global infrastructure platform to power the growth of the burgeoning esports industry. Vindex acquired esports solutions provider Next Generation Esports and launched Esports Engine in 2019. In July 2020, Vindex acquired the Belong Gaming Arenas brand and all associated IP from Fraser Group's Game Digital to bring the esports experience via digital platforms and gaming facilities to hometowns across the US, and eventually all over the globe, with industry veteran Martyn Gibbs leading the way as CEO of the business.
Sepso has been involved with the World Economic Forum for several years, helping to educate the broader community on the gaming and esports industry on a global scale.
For more information on Vindex's participation in the Global Innovators Community, please reach out at Vindex.gg.
Vindex provides the infrastructure that powers the growth in the global esports business. The company was launched in October 2019 by esports pioneers and Major League Gaming (MLG) co-founders Mike Sepso and Sundance DiGiovanni with fintech entrepreneurs Bryan Binder and Jason Garmise. Vindex is the largest pure-play esports infrastructure provider, offering services and technology that help the world's leading game publishers, esports leagues and teams deliver deeply engaging experiences to fans around the world.
About World Economic Forum
The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).