NetEase to spend RMB 1.3bn on eSports

The Chinese internet and technology news website Donews.com have reported that NetEase, one of the top internet and technology giants in China, plan to invest RMB 1.3bn in its eSports sector.

NetEase’s Vice President Wang Yi unveiled their plans at a press conference held in Beijing on Feb 5. According to Wang Yi, the business of eSports and its broadcasting is regarded as one of the key priorities of the company in 2018, with RMB 1bn of the 1.3-billion budget to be spent on the eSports industry and the remainder invested in the broadcasting side of eSports. 

As Wang Yi introduced at the press conference, NetEase’s eSports business can be divided into four parts – operation of eSports events and leagues, support for eSports clubs and players, construction of eSports venues and R&D of new eSports games. 

NetEase plans to organize eSports events in over 1,000 colleges in more than 100 cities in China, in order to engage more eSports enthusiasts to participate. Wang Yi also disclosed that the company is preparing to launch professional eSports leagues in North America, Europe and Asia.

Secondly, NetEase will support eSports players who have great potential by offering them professional eSports coaching and recommending them to eSports teams. Regarding eSports clubs and those who are willing to partner with NetEase, the company will invite them to play in NetEase’s eSports events and support their operations. 

Apart from the R&D of new eSports games, which has been a long-term business plan of NetEase, the company plans to build eSports venues in 38 cities in China by partnering with local governments and working together with NetEase’s commercial partners. 

To develop its eSports broadcasting business, Wang Yi also stated that NetEase will launch a project called “ALLSTAR” with an initial investment of RMB 300m, which will consist of partnering with various broadcasting platforms in China and developing eSports broadcasters by working together with popular eSports clubs and eSports brokerage firms in China.

In addition, NetEase will also sign up and market new broadcasters to eSports enthusiasts while on the other hand, NetEase will set up operating teams for some popular broadcasters in China. As of now, NetEase has reached brokerage partnerships with nearly 200 eSports broadcasters. 

Source: donews.com

Proofread by Raymond Fitzpatrick