Also, for the people that age out it seems like 3 more people join. Search viewership growth for games like League of Legends, Dota2, and CSGO and you will see that watching videogames is serious business.
If you include people watching in the client itself it is a bit closer but still Twitch would be double or more.
That's tiny. If you took a pitch for an eSports startup to a VC with that total market size they'd laugh you out of the office...
So while the 27 million viewers sounds impressive and shows up in the pitch deck of every eSports startup, it's not translating to significant revenue (yet).
That's part of what's depressing.
I'd rather there was a citizenry that read the Washington Post more than watching others play video games (or NFL or whatever) more. Maybe people would have a better handle of politics, and the economy and what's going on around them.
I think you're just getting old - and I don't mean it in an insulting way. You can be certain that the Greatest Generation weren't pleased with how the baby boomers were not "upholding certain cultural values" when they were listening to Rock n' Roll instead of "real music": and yet now Rock n' Roll has it's own cultural cachet. Culture is dynamic. I do empathize with you, but complaining that the younger generation is losing values is an old, old phenomenon.
Take this example from a quick Google search (admittedly it's a partisan source) http://www.thenation.com/article/eleven-years-how-washington...
Personally, as a DC native now living far away, I think a citizenry reading WaPo seems like a frightening bunch of conformists. Yes I am aware of what they did in the 70s. Different paper now.
Especially since entertaining gets all the more Huxley-an and Kardashian standards all the time.
I don't ascribe to the "culture is always the same constant thing quality-wise, nothing ever changes but fashions" viewpoint.
From all I've read from others and experienced personally, I see that even if that well-informed culture in the past only concerned/involved like 5% of the people, the equivalent 5% is worse off today.
At least in my country, along with the usual entertainment stuff, 20 or 30 years ago we had several excellent newspapers with big circulations. Editorial standards now are at an all time low -- and even worse for the internet outlets that replaced them.
Same with TV -- the quality of TV product has shrank considerably, from high brow movies and talk shows to the equivalent of Oprah or reality TV.
TV news for example, started with a couple of presenters giving an overview of current events in a somber tone and well written copy, and it has since the late nineties turned into the equivalent of a Geraldo show, with "dramatic" music, overdone titles, and the hosts having guests in PIP windows arguing at each other.
So, I consider it like I would consider a lack of caring of the environment, or for helping people in the streets, or inversely, an increase in racism etc: as the fault of the people not caring -- not of others that failed to convince them to care.
The #1 thing for a citizen is personal responsibility.
A better comparison would be the World Cup.
While both companies operate in a thin margin environment, content creation is not easily scalable but content distribution is.
Also, shrinking market vs growing market.
Besides, value to society and value to investors don't always go hand in hand.
Count how many TV News programs make reference to what they found on social media?
[EDIT] In case anyone doesn't get the reference: