The esports industry has been on the rise for the past decade, growing from a series of smaller-scale local events to a multi-million dollar business. This growth is more evident than ever today, as OverActive Media has announced plans to build a 7,000-seat esports arena in Toronto, Canada.
OverActive Media is an esports organization that owns several popular teams, including the Overwatch League's Toronto Defiant and the Call of Duty League's Toronto Ultra. Its planned arena will cost $500 million dollars and take four years to build, with a planned opening year of 2025.
This massive arena will be located in Toronto's Exhibition Place grounds, an entertainment and event district that also includes the 20,000-seat soccer stadium BMO Fields. While the focus of this new stadium would be on esports, OverActive Media also hopes to host other events in the stadium, including concerts, conventions, award shows, and competitions.
With this announcement, the group also released a video showing a mock-up of the structure, including a look at the unique architecture of the exterior and the enormous scope of the interior. It may be some time until any events are hosted in this venue, but the arena itself looks perfect for showcasing the many international esports events that happen each year.
It should be noted that these plans are still in the proposal stage and are technically not guaranteed to happen. The approval process with the city of Toronto is still ongoing, and no ground has been broken on the site just yet. However, this isn't the first planned big-budget esports arena, so it the odds of it coming to fruition are fairly likely. The structure is being designed by the same group that has designed venues for other massive events such as the Super Bowl and the 2012 London Olympics, so the talent is clearly present. The approval of this arena is likely a case of "when" it will happen, rather than "if" it will.
The esports industry has become lucrative for many gaming companies, so just as many cities are trying to capitalize on this growing demand. This news is merely emblematic of the massive growth the community has had. Not only is an entire $500 million dollar esports arena being designed, but star-studded esports-focused feature films are in development. The top esports teams are worth millions of dollars, often just as much as an average NFL team, so it seems this phenomenon is only just beginning to take hold.
Source: IGN