The Basketball Media market in Lithuania is seeing minimal growth due to factors such as limited audience reach and lack of investment in digital technologies. Rising popularity of online services and increasing health awareness among consumers are also impacting the growth rate.
Customer preferences: With the rise of social media and streaming platforms, the Basketball Media Market within the Sports Market has experienced a shift in consumer preferences towards online content consumption. This can be attributed to the growing popularity of digital devices, especially among younger demographics, and the increasing availability of high-quality basketball content on these platforms. This has led to a decline in traditional media consumption and a trend towards personalized, on-demand content. Additionally, the COVID-19 pandemic has accelerated this trend, with consumers turning to online platforms for live games and up-to-date news and analysis. As a result, there is a growing demand for digital streaming services and online subscriptions for basketball content.
Trends in the market: In Lithuania, the Basketball Media Market is undergoing a significant shift towards digital and social media platforms. An increasing number of basketball fans are turning to online streaming and social media outlets for updated news, highlights, and analysis. As a result, broadcasters and advertisers are investing more in digital advertising and targeted content. Additionally, there is a growing trend of incorporating esports and fantasy basketball into media coverage, attracting a younger audience and diversifying revenue streams. This trend is expected to continue to grow, impacting traditional media channels and presenting new opportunities for industry stakeholders.
Local special circumstances:
In Lithuania, basketball holds a special place in the countrys culture, being the most popular sport and having a strong legacy with multiple championship wins. This strong fanbase has led to a highly competitive basketball media market. Due to the countrys small size and geographical location, Lithuanian basketball media is heavily focused on traditional outlets such as television and print. However, with the increasing popularity of online streaming services, there has been a shift towards digital media, providing more accessible and convenient coverage of games. Additionally, with the rise of social media, players and teams have been able to establish a direct connection with fans, further boosting the markets growth.
Underlying macroeconomic factors: The Basketball Media Market in Lithuania is heavily influenced by macroeconomic factors, such as the countrys overall economic health, government policies, and global economic trends. With a strong and stable economy, Lithuania has experienced significant growth in the Sports market, including the basketball market. Additionally, the country has a well-developed digital infrastructure and a high demand for digital media, creating an ideal environment for the growth of the Basketball Media Market. Furthermore, increasing disposable income and a rise in the popularity of the sport among the younger generation have also contributed to the growth of the 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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