Exploring the rise of chess as an online sport and the money flowing into the game, including the influence of the COVID-19 pandemic and 'Queen's Gambit', the lucrative rise of chess as an eSports industry with streamers and YouTube videos, and the growth and influence of chess.com.
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Quick takeaways
Chess has transformed into a global eSport, gaining popularity through online platforms and mainstream attention from shows like 'Queen's Gambit'.
Chess.com has positioned itself as a central hub for chess enthusiasts and experienced exponential growth in user numbers.
Deep dives
Chess's Origin and Rise
Chess, believed to have originated from the game Chaturanga, has transformed into a global eSport. India is particularly experiencing a surge in chess popularity, boasting 83 grandmasters and two players in the world's top 10. Chess gained mainstream attention during the pandemic, with online platforms like chess.com benefiting from increased traffic and viewership. The success of Netflix's limited series 'Queen's Gambit' further fueled interest in the game, attracting millions of viewers globally. The rise of chess-related content on platforms like YouTube and Twitch also played a significant role in its widespread popularity.
The Impact on Chess.com
Chess.com has become the top platform for playing and streaming chess, experiencing exponential growth in user numbers and attracting advertisers and sponsorships. With strategic initiatives such as improving matchmaking and offering advanced chess engine analysis, the platform has successfully positioned itself as a central hub for chess enthusiasts. Its association with Netflix's 'Queen's Gambit' contributed to its success, and the company's valuation has skyrocketed to $500 million.
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The Rise of Chess as an Online Sport and the Money Flowing In
India’s teenage sensation, R Praggnanandhaa almost beat the top ranked Magnus Carlsen in the Chess World Cup Final last week. And we’re definitely rooting for him to win the crown the next time.
But we thought it might be interesting to explore how chess has transformed into an online sport and talk about the money flowing into the game. So that’s what we’ll do in today’s episode for 28th August 2023.
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