The Basketball Media Market in Armenia has seen steady growth, influenced by factors such as rising interest in digital platforms, growing sports awareness, and convenient access to online basketball content. Despite minimal growth, limitations in internet accessibility and reliance on traditional media may impact the markets growth rate.
Customer preferences: The popularity of streaming platforms and social media has significantly impacted the Basketball Media Market in Armenia. With the rise of online content consumption, sports fans are shifting towards digital media outlets for their basketball-related content, leading to decreased viewership of traditional television broadcasts. Additionally, the younger demographic, who are more tech-savvy, are increasingly seeking interactive and personalized content, creating a demand for innovative and immersive digital platforms within the Basketball Market. This trend is expected to continue as the market becomes more digitalized, driven by the widespread use of smartphones and increased internet penetration in the country.
Trends in the market: In Armenias Basketball Media Market, there has been a noticeable shift towards utilizing social media platforms for fan engagement and increasing brand visibility. This trend has been fueled by the countrys growing tech-savvy population and the increasing popularity of basketball. The market has also seen a rise in live streaming of games, providing fans with easy access to watch their favorite teams. As for the potential implications, the rise of digital media could lead to increased revenue opportunities and sponsorships for industry stakeholders. Additionally, the use of data analytics and artificial intelligence in basketball media is expected to further enhance the fan experience and drive growth in the market.
Local special circumstances: In Armenia, the Basketball Media Market is heavily influenced by the countrys love for basketball and their strong national team. Additionally, the market is shaped by the low internet penetration rate and lack of media infrastructure, leading to traditional media outlets dominating the market. This creates a unique environment where traditional media platforms, such as TV and radio, are still the primary source of basketball news and coverage. Furthermore, the strict regulations on foreign media ownership also play a role in shaping the market, as local players dominate the industry.
Underlying macroeconomic factors: The Basketball Media Market of the Basketball Market within the Sports Market in Armenia is greatly impacted by macroeconomic factors such as economic stability, consumer spending, and government policies. As the global economy has been experiencing growth, the Armenian market has also seen an increase in demand for basketball media products. Additionally, the governments efforts to promote and invest in the development of sports in the country have had a positive impact on the market. Furthermore, the rise of digital media and the shift towards online streaming platforms have also contributed to the growth of the market, as it has made it easier for consumers to access and consume basketball content.
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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