The American Football market in Ghana has seen minimal growth due to factors like low adoption of digital technologies, limited health awareness among consumers and lack of convenience in online services.
Customer preferences: As the popularity of American Football continues to grow in Ghana, there has been a noticeable increase in demand for digital media coverage of the sport. With the rise of social media and streaming platforms, fans are turning to digital channels for highlights, live broadcasts, and player interviews. This shift towards digital media is also reflected in the preferences of American Football fans in the United States, as they increasingly rely on digital platforms to stay updated on the latest news and developments in the league. This trend is driven by the convenience and accessibility of digital media, as well as a desire for more personalized and customized content experiences.
Trends in the market: In Ghana, there is a growing interest in American football, with more coverage and viewership on traditional and social media platforms. In the United States, the trend of live streaming football games on digital platforms is gaining momentum, providing a new source of revenue for the industry. In both markets, there is an increasing focus on promoting diversity and inclusivity within the sport, which could lead to partnerships and collaborations with diverse communities. This trend has the potential to expand the fan base and attract new sponsors and advertisers, driving growth in the American football media market. However, there are also potential challenges, such as navigating cultural differences and addressing outdated stereotypes, that stakeholders must consider to fully capitalize on this trend.
Local special circumstances: In Ghana, the American Football market is still in its infancy, with basketball and soccer dominating the sports scene. However, with the growing popularity of the National Football League (NFL) in the country, there is a potential for growth in the American Football media market. In contrast, the American Football media market in the United States is a well-established behemoth, with millions of viewers tuning in every week to watch games and consume related content. Despite the differences, one similarity between the two markets is the importance of digital platforms in reaching audiences. In Ghana, the lack of widespread internet access and limited tech adoption may hinder the growth of the American Football media market, while in the US, the prevalence of tech-savvy consumers has propelled the market to its current success. Additionally, cultural differences also play a role, with American Football being deeply rooted in American culture and traditions, while in Ghana, it may struggle to gain a foothold due to cultural preferences and loyalties to other sports. As both markets continue to evolve, it will be interesting to see how these local factors shape their respective American Football media markets.
Underlying macroeconomic factors: The American Football media market is heavily influenced by macroeconomic factors such as technological advancements, consumer spending, and advertising budgets. As the global economy continues to recover, investors are keeping a close eye on the Sports market as it presents unique opportunities for growth. In Ghana, for example, a growing middle class and increased disposable income have led to a rise in sports consumption, including American Football. Additionally, policies promoting foreign investment and economic stability have attracted major players in the media industry to enter the Ghanaian market, further fueling the growth of the American Football media market.
Data coverage:
The data encompasses B2B revenues. Figures are based on media spending from businesses to several clubs. That also includes the revenues from advertising as this is part of media and broadcasting contracts the individual clubs have with their respective leagues.Modeling approach / Market size:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per ticket, price on sport goods). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function or linear forecasting, as it fits the development of either strong growing markets or more sophistacted and saturated markets, such as soccer in Europe.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). We also account for the different cycles of international tournaments, such as world cups or continent cups. Consumer Insights data is reweighted for representativeness.
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