Market Insights Advertising & Media Sports Basketball

Basketball Media - Ghana

Ghana

Revenue in the Basketball Media market is projected to reach US$0.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -6.89%, resulting in a projected market volume of US$0.49m by 2029.
In global comparison, most revenue will be generated in the United States (US$5,917.00m in 2024).
The average revenue per user (ARPU) in the Basketball Media market is projected to amount to US$5.89 in 2024.
In the Basketball Media market, the number of users is expected to amount to 121.3k users by 2029.
User penetration in the Basketball Media market will be at 0.3% in 2024.

Market

Region

Region comparison

Currency

Analyst Opinion

The Basketball Media Market in Ghana has been growing at a negligible rate, influenced by factors such as the slow adoption of digital technologies and lower health awareness among consumers. Online health services have not gained much traction yet.

Customer preferences: In Ghana, the Basketball Market has seen a rise in popularity, especially among the younger demographic. This has also led to an increase in demand for basketball-related content and coverage in the media market. With the rise of social media and digital platforms, fans are now able to access and engage with a wide range of basketball content, from game highlights to player interviews. Additionally, there has been a notable shift towards online streaming of basketball games and events, further highlighting the rise of digital consumption in the market. This trend is fueled by the increasing availability of high-speed internet and affordable smartphones, making it easier for consumers to stay connected and engaged with their favorite teams and players.

Trends in the market: In Ghana, there is a growing trend of using social media and digital platforms to promote and cover basketball events. This has led to a rise in online streaming of games and increased engagement from fans. In the Basketball Media Market, there is a shift towards more interactive and diverse content, such as player interviews and behind-the-scenes footage. This trend is significant as it creates more opportunities for fan engagement and brand collaborations. It also presents potential implications for industry stakeholders, including increased revenue and the need for innovative content creation to stand out in a competitive market.

Local special circumstances: In Ghana, the Basketball Media Market within the Sports Market is shaped by factors such as limited internet access and the popularity of traditional media. The countrys passion for basketball and growing interest in sports coverage has also influenced the market. Additionally, cultural preferences and language barriers have led to the development of local media outlets and unique modes of content delivery. These factors, coupled with the rise of social media and mobile technology, are driving the growth of the Basketball Media Market in Ghana.

Underlying macroeconomic factors: The Basketball Media Market within the Sports Market in Ghana is influenced by various macroeconomic factors, such as the countrys economic stability, government policies, and investment in the sports industry. Furthermore, global economic trends and the rapid growth of digital media have also had a significant impact on the market. Countries with favorable economic conditions and strong support for the sports industry, along with advancements in technology, are experiencing faster market growth compared to regions with economic challenges. Additionally, the rising popularity of basketball among the youth and the increasing penetration of social media in the country are driving the demand for digital media content, ultimately aiding market growth.

Methodology

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.