Market Insights Advertising & Media Sports Basketball

Basketball Media - Latvia

Latvia

Revenue in the Basketball Media market is projected to reach US$275.40k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.94%, resulting in a projected market volume of US$262.70k 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 64.5k users by 2029.
User penetration in the Basketball Media market will be at 2.6% in 2024.

Market

Region

Region comparison

Currency

Analyst Opinion

In Latvia, the Basketball Media Market within the Sports Market is showing minimal growth due to factors such as a limited audience for basketball, lack of media coverage and low investment in digital technologies. However, rising interest in the sport and new online services may contribute to future growth.

Customer preferences: In Latvia, there has been a significant increase in the consumption of basketball media, with a growing demand for digital content and streaming services. This is due to the rising popularity of basketball and the younger generations preference for consuming media on various devices. Additionally, cultural factors such as a strong enthusiasm for sports and a love for technology drive this trend. As a result, there is a greater focus on creating interactive and engaging content, as well as expanding digital platforms to cater to the evolving preferences of basketball fans.

Trends in the market: In Latvia, the Basketball Media Market is experiencing a rise in online streaming services, as more viewers turn to digital platforms for their sports consumption. This trend is driven by the increasing availability and convenience of streaming services, as well as the rising popularity of mobile devices and internet connectivity. As a result, traditional media outlets are facing declining viewership and advertising revenues. This has significant implications for industry stakeholders, who must adapt to the changing landscape by investing in digital infrastructure and developing innovative content strategies to capture and retain their audience.

Local special circumstances: In Latvia, the Basketball Media Market is heavily influenced by the countrys love for the sport and its success in international competitions. The game has a rich history and is deeply ingrained in the culture, making it a popular topic for media coverage. Additionally, the countrys small size and high internet penetration have led to the rise of digital media platforms, facilitating the reach and popularity of basketball content. With a strong emphasis placed on physical education in schools, Latvia also has a large base of young fans and potential future players, contributing to the growth of the Basketball Media Market.

Underlying macroeconomic factors: The growth of the Basketball Media Market within the Sports Market in Latvia is influenced by macroeconomic factors such as the countrys economic stability, government fiscal policies, and overall investment in the sports industry. As a small country with a history of success in basketball, Latvia has a thriving Sports market with significant investments in infrastructure, youth development programs, and international partnerships. Additionally, with a growing demand for digital media and online content, the Basketball Media Market is also benefitting from advancements in technology and increased internet penetration in the country. Overall, positive macroeconomic factors such as a stable economy, favorable government policies, and investments in the Sports market contribute to the growth and success of the Basketball Media Market in Latvia.

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.