At CNBC’s CONVERGE LIVE event in Singapore, leaders from sports and esports discussed the big opportunities and trends shaping growth in the multi-billion-dollar sector.
LIV Golf CEO, Scott O’Neil discussed how the organization is diversifying the sport’s fanbase.
“It’s really about the festival around golf that makes us different,” O’Neil said in conversation with CNBC’s David Faber.
“Our average attendee is 15 years younger than a competitive golf tournament age set might be,” he added.
Also on the agenda at CONVERGE LIVE was esports, which the Kingdom of Saudi Arabia is investing in heavily. Speaking to CNBC’s Sara Eisen in his role as chairman of the Saudi Esports Federation, HRH Prince Faisal Bin Bandar Al Saud described the country’s big ambitions in the space.
“One of our KPIs under the ‘Strategy for Gaming and Esports’ is a contribution of 50 billion Saudi riyals (13 billion USD), which will be roughly 1% of the GDP, by 2030,” he said.
These ambitions are not unfounded. Danny Tang is the CEO of Hero Esports, which organizes professional gaming tournaments. She told CNBC’s Arjun Kharpal about the influx of brands investing in the industry.
“These are not just the niche, endemic brands anymore… we’re seeing jewelry brands, shampoo brands, gasoline brands, car brands,” she said.
It’s not only esports where technology is playing a crucial role. Former Olympic champion Michael Johnson is working to commercialize athletics with his newly launched league, Grand Slam Track. He discussed tech’s role in coaching athletes.
“You have technology that is now allowing coaches to mitigate injury, understand the risk of injury and reduce the risk of injury,” he told CNBC’s Tania Bryer.
Watch the video above for more of the sports and esports highlights from CONVERGE LIVE.