The Basketball Media Market in BRICS nations is seeing slow growth due to slight market saturation and changing consumer preferences towards new digital platforms.
Customer preferences: With the rise in popularity of the sport of basketball in the BRICS countries, there has been a noticeable shift in consumer preferences towards consuming media content related to the sport. More and more fans are seeking out online streaming services and digital platforms to follow their favorite teams and players. This trend is driven by the increasing availability of affordable internet access and the growing use of smartphones. Additionally, with the rise of social media and influencer marketing, there is a growing demand for engaging and interactive content that caters to the preferences and interests of younger demographics.
Trends in the market: In the BRICS countries, the Basketball Media Market is experiencing a surge in online streaming services for live games and highlights. China, in particular, has seen a rise in the popularity of virtual reality broadcasts, providing an immersive viewing experience for fans. This trend is expected to continue as advancements in technology allow for more seamless and interactive viewing options. For industry stakeholders, this trend presents an opportunity to reach a larger global audience and potentially tap into new revenue streams. However, there may also be challenges in terms of keeping up with the constantly changing technology and providing high-quality content to meet the expectations of viewers.
Local special circumstances: In China, the Basketball Media Market is heavily influenced by the countrys large population and passion for sports, particularly basketball. With the rise of social media and technological advancements, Chinese basketball fans have access to various online platforms and streaming services, driving the demand for live games, highlights, and exclusive content. Additionally, government support and investments in sports infrastructure have further contributed to the growth of the Basketball Media Market in China.
Underlying macroeconomic factors: The Basketball Media Market in the Basketball Market is impacted by macroeconomic factors such as globalization, economic stability, and media consumption trends. The growing BRICS economies, along with increasing disposable incomes, have led to rising spending power and demand for sports content. Furthermore, government initiatives and policies promoting sports and media industries, coupled with technological advancements in digital media, are driving the growth of the Basketball Media Market. Additionally, the increasing popularity of basketball as a sport globally and the strong presence of online and social media platforms are creating new opportunities for market growth.
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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