427 million people will be watching esports by 2019, reports Newzoo

Newzoo increases it's esports estimates. Provided by Newzoo

A company that tracks intelligence in the digital games industry announced Wednesday an upward revision in its estimates on the size of the esports audience.

In its report, Newzoo said the global audience aware of esports will be 1.1 billion people in 2016 and will rise by more than 400 million people by 2019.

The company says those who actually watch esports, both occasional viewers and enthusiasts, will rise from 230 million people to 292 million in 2016 and will reach 427 million people by 2019.

"Explosive growth in coverage from global and local media, an intensified effort from game publishers, as well as the launch of an abundance of new leagues and events have accelerated the global exposure of esports beyond initial expectations," Newzoo said in a statement.

As published in previous projections, Newzoo expects global esports revenues to hit $463 million in 2016 and top $1 billion by 2019.