Summary of Key Points
Women's esports was once a marginal “testing ground” within the esports industry, with few events, low prize money, and cautious investment from clubs. However, in recent years, as the global proportion of female gamers approaches 50%, manufacturers and international clubs have begun to increase their investment. Events for women, represented by MWI, are gradually making their way onto the global stage, initially forming a business model that achieves “financial balance for events” and “indirect revenue for clubs.” Nevertheless, there are still challenges such as a lack of events, low player incomes, and a small talent pool, which require more time to overcome.
1. From a Test Event to a Global Stage: MWI’s Rise
Five years ago, MWI was just a low-cost online trial event for female gamers in Southeast Asia (with participation from only 12 countries), but it unexpectedly received more attention and sponsorship than expected. The team gradually upgraded its approach: the following year, they moved the event to an Indonesian mall, attracting two to three thousand spectators; today, MWI covers over 60 countries, with peak viewership reaching 566,000 (an annual increase of nearly 20%), and it has been included in the top global esports event EWC (the only women's category).
The attitude of clubs has also shifted from “testing the waters” to “long-term investment.” Three years ago, only four or five clubs had stable women's divisions; now, that number has risen to seven or eight. For example, the European powerhouse Team Vitality invested in women's esports five years ago, acquired an Indonesian team, and won MWI for two consecutive years, treating the women's team as an important part of their community—“we can't let half of our players be just spectators.”
2. Female Gamers Becoming a Fundamental Base: The Underlying Logic Behind Manufacturers' Investment
The core reason for the surge in women's esports is the explosion in the number of female gamers:
- In China, the number of female online game users will reach 341 million by 2025, accounting for 48% (an increase of 3.1 percentage points from 2024);
- Globally, the gender ratio of esports viewers has shifted from 8:2 in 2021 to 6.8:3.2 in 2026, with higher participation rates in some markets.
At the same time, the gaming market has entered a period of “slow growth” (global revenue expected to increase by only 3.4% in 2025), and manufacturers need new sources of users. Women's esports can provide female gamers with a sense of identity (by offering role models) and also drive new business opportunities such as live streaming, social interactions, and brand partnerships—essentially opening up an “untapped market” for manufacturers.
3. The Emergence of a Business Model: Events No Longer Losses Money, Clubs Earn Indirect Revenue
In the past, women's esports events were unsustainable due to high costs (venues, broadcasting) and low revenues (tickets, sponsorship). Now, MWI uses a “co-investment model” to solve this issue: manufacturers and local partners divide the workload—MWI provides the event framework and global platform, while locals are responsible for community management and event organization. By sharing the costs, MWI has achieved financial balance.
Clubs’ financial situations have improved significantly. For instance, Team Vitality’s women's team, despite limited sponsorship in Southeast Asia, can boost the club’s overall ranking through EWC points, potentially earning additional bonuses of $1-2 million per rank improvement. This makes it worthwhile for clubs to continue investing in women's esports.
4. Overcoming Challenges: Few Events, Low Incomes, and a Limited Talent Pool
The main challenges in women's esports include:
- A shortage of events: MWI offers the highest prize money of any annual event, while other events pay significantly less; players may spend a year preparing for an event only to receive no return if they lose.
- Low incomes: Players train 14-16 hours daily (with one day off per week) but still earn less than average white-collar workers.
- A small talent pool: The investment required for training does not match the rewards, leading to a lack of female players willing to pursue a professional career, which in turn affects both the audience and sponsorship prospects—creating a vicious cycle.
For example, a SAETA team manager said, “There are too few opportunities to prove oneself, making it difficult for players to persist.”
5. The Key to Breaking the Cycle: Providing More Opportunities and Better Rewards
To break this cycle, the focus should be on:
- Holding more events to give players more platforms to showcase their skills without risking everything in a single event.
- Increasing incomes through sponsorship, prize money, and club point systems to ensure that players’ efforts are rewarded.
- Building a sustainable ecosystem: Only by showing more women that esports can be a viable career choice will more people join the community, enhancing the appeal of events and attracting more sponsors—a process that requires patience.
As Team Vitality’s En格斯 said, “Top players are always in the minority, but without opportunities, there will never be female versions of legends like Faker.”
Women's esports has moved beyond its experimental phase, but to become a profitable industry, it still needs to overcome challenges related to the number of events and player incomes. Nevertheless, it has already shown that women can not only play games but also compete on the global stage and win championships—a significant milestone in itself.