Basketball Media - Nigeria

Nigeria

Highlights

Revenue in the Basketball Media market is projected to reach US$6.63m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -6.27%, resulting in a projected market volume of US$4.80m by 2029.
In global comparison, most revenue will be generated United States (US$5.92bn 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 1.2m users by 2029.
User penetration in the Basketball Media market will be at 0.5% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Basketball Media Market in Nigeria is facing minimal growth, influenced by factors such as limited access to digital technologies and lower awareness of health in sports. Despite the convenience of online services, the market is struggling to keep up with the global trend.

Customer preferences: Consumers in Nigeria are increasingly turning to digital streaming platforms to access live basketball games and highlights. This trend is partially driven by the rising popularity of smartphones and internet penetration in the country. Additionally, there is a growing interest in consuming basketball content through social media platforms such as Instagram and Twitter, where fans can engage with their favorite players and teams in real-time. As a result, traditional media outlets are expanding their digital presence to remain competitive in the evolving basketball media landscape.

Trends in the market: Within the Basketball Media Market of the Basketball Market in Nigeria, there is a growing trend of online streaming platforms for live games and highlight reels. This trend is driven by the increasing accessibility to high-speed internet and the popularity of streaming services. It allows fans to engage with the sport in real-time and offers a cost-effective alternative to traditional television broadcasting. This trend is significant as it expands the reach of basketball media to a wider audience and provides new revenue streams for industry stakeholders. However, it also poses a challenge to traditional media platforms and may require them to adapt their strategies in order to stay competitive in the market.

Local special circumstances: In Nigeria, the Basketball Media Market is heavily influenced by the countrys passionate fan base and strong basketball culture. The popularity of the sport has led to a growing demand for media coverage and content, with local networks and publishers vying for exclusive rights and partnerships with teams and players. However, the market faces challenges such as infrastructure limitations and the lack of established regulatory frameworks for online sports media, creating unique dynamics within the basketball market.

Underlying macroeconomic factors: The growth of the Basketball Media Market in Nigeria is greatly impacted by macroeconomic factors such as the overall economic health of the country, government policies and regulations, and investment in sports infrastructure. A stable economy and government support for the sports industry can attract investment and encourage growth in the market. Additionally, a growing demographic of basketball fans in Nigeria and the increasing popularity of the sport globally are also driving forces behind the growth of the Basketball Media Market in the country.

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.