Riot Built Valorant Into a Global Esport

Valorant Masters London sold out the 7,500-seat Copper Box Arena and reached a peak audience of 9.9 million viewers, making it the most-watched event in the Valorant Champions Tour to date. The tournament ran alongside the Counter-Strike 2 Cologne Major and surpassed viewership for League of Legends Worlds 2025. Organizers reported about 80% of the online audience came from China.

The event took place in London and drew a full arena and a large global online audience. Fans attended in character costumes and national flags were visible throughout the venue. Riot Games staged the tournament as part of the VCT calendar, with Champions Shanghai scheduled as a later stop.

Bill Pan, Riot’s head of product strategy for Valorant Esports, recalled the competition’s early stages, including regional cups and an event held during the pandemic. He said the series of live Champions events in Istanbul and Los Angeles marked the return of large in-person shows. “Esports, for Valorant, has always been at the core of what the game is supposed to be to some extent,” he said.

Riot has shifted how it funds and supports its competitive scene. Pan described a strategy that places greater emphasis on sales of in-game digital items linked to esports. He said revenue from those items helps cover prize money, event production and team incentives without relying solely on external sponsors.

The broader esports industry has faced challenges since 2022, when analysts warned of a possible downturn. Livestreaming viewership softened after pandemic peaks, sponsorship deals weakened in some markets, and some high-profile events drew scrutiny over their funding sources. Betting-related sponsorships have also become more common across tournaments.

Pan said Riot has studied other competitive titles for lessons on production and audience expectations. He pointed to experience learned from League of Legends, Overwatch and Counter-Strike when planning broadcasts and live shows. “We learn a ton from Overwatch, Counter-Strike, and all of these titles that have come before us,” he said.

Audience composition has changed over time. Pan noted Valorant’s early players were younger and often came from games such as Minecraft, Roblox and Fortnite. To reach newer and older cohorts with different viewing habits, Riot is testing short-form content and condensed highlight packages intended for viewers who cannot watch full match schedules. “Who has time to sit through hundreds of games a year for any sport?” he asked.

Pan described the current approach as taking multiple creative and distribution experiments and letting fans decide which formats they prefer. He said the company continues to adjust what it offers based on fan response and changing platform trends.

Masters London served as a demonstration of audience interest in live esports: the arena sold out and matches drew sustained online viewership. Riot plans to continue rotating major events across global cities and to test formats, content types and monetization tactics as the VCT calendar progresses.

Pan said he expects a continuing role for competitive gaming within the industry even as its scale and business models change. He highlighted the connection between a successful live product and broader financial support for teams and events.