The International eSports Federation (IeSF) held a summit in Busan, South Korea where they discussed with proponents of the esports industry how to further unite and develop its global community.
The summit, called the Global Esports Executive Summit (GEES) by the South Korea-based federation, also brought together key stakeholders from across the world to discuss four core agendas for the esports industry.
These agendas included esports governance, gaming disorders, the esports profit model, and esports administration.
The esports profit model has been very successful so far as, according to a report from market research firm Newzoo, the total revenue of the esports industry jumped from $493 million in 2016 to $655 million in 2017. This massive surge of growth is expected to continue through the rest of this year, as the esports industry’s profits are expected to exceed $900 million.
The discussion on esports governance was sparked by presentations that portray both public and private sector opinions by League of Legends publisher Riot Games and the Chinese Taipei Esports Association.
One of the biggest issues faced by the industry as of late was when a Filipino professional Dota 2 player was allegedly banned from competing in a tournament held in China. While the issue was later resolved and it was found that the Chinese government was not involved, it still raises the question on how geopolitics can affect esports.
As for the federation’s home country, South Korea has recently made moves to secure its local esports and video game industry by legislating a law that punishes game ‘boosters.’
The summit also featured a panel discussion where individuals from both the traditional sports and esports communities expounded on a possible “collaboration for esports ecosystem development.” Strides have also been made regarding the intersection of esports and traditional sports, as esports was announced to be a medal event in the 2019 Southeast Asian Games.
In light of the fact that this was the third year of the summit, a new esports Academic Seminar was held to promote further research that will “enhance and support” the gaming industry.
It has been thought that the IeSF is trying to establish itself as the recognised global governing body for esports. However, it has been contending with the Switzerland-based World Esports Association, which was formed in 2016.
The federation, which was founded earlier in 2008, currently has Denmark, South Korea, Germany, Austria, Belgium, The Netherlands, Switzerland, Vietnam, and Taiwan among its list of members.