Market Insights Advertising & Media Sports Basketball

Basketball Media - Norway

Norway

Revenue in the Basketball Media market is projected to reach US$1.76m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.04%, resulting in a projected market volume of US$1.67m 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 410.5k users by 2029.
User penetration in the Basketball Media market will be at 5.4% in 2024.

Market

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Analyst Opinion

The Norwegian Basketball Media Market has seen minimal growth as digital technology adoption, health consciousness, and online services convenience influences the market. Factors impacting growth rate include competition and low demand for traditional media.

Customer preferences: The rise of social media and streaming services has significantly impacted the Basketball Media Market in Norway. With the increasing popularity of online platforms, sports fans now have access to a wide range of live games, highlights, and analysis, without the need for traditional TV subscriptions. This shift towards digital consumption is further driven by the younger generations preference for convenience and personalized content. As a result, sports media outlets have begun to prioritize creating engaging social media content and developing partnerships with digital platforms to reach a wider audience. Additionally, the use of virtual and augmented reality technologies in broadcasting basketball games has also gained traction, creating a more immersive viewing experience for fans.

Trends in the market: In Norway, the Basketball Media Market is seeing a rise in online streaming services for basketball games, allowing fans to access live games and replays on their devices. This trend is significant as it caters to the growing demand for convenience and accessibility among audiences. It also presents opportunities for industry stakeholders to reach a wider audience and increase revenue through subscription services. Additionally, social media platforms are becoming popular for sharing basketball-related content and engaging with fans. This trend highlights the importance of digital presence and engagement for industry players in the Basketball Market within the Sports Market.

Local special circumstances: In Norway, the Basketball Media Market is heavily influenced by the countrys small population and widespread love for sports. With a strong culture of self-sufficiency, Norwegian basketball media outlets focus on locally produced content and prioritize coverage of local leagues and teams. Additionally, the countrys stringent media regulations, particularly regarding advertising and sponsorships, contribute to a unique landscape for basketball media. These factors create a close-knit and niche market, with a strong sense of community among basketball fans and media outlets.

Underlying macroeconomic factors: According to market research, the Basketball Media Market of the Basketball Market within the Sports Market in Norway is heavily influenced by macroeconomic factors such as the countrys strong economic health, government policies that support sports and entertainment industries, and the increasing popularity of basketball among the young demographic. This trend is further propelled by the advancements in digital technology and the rise of social media platforms, which have made it easier for fans to access and engage with basketball content. Furthermore, the significant investments made by media companies in sports broadcasting, streaming services, and advertisements have led to the continuous growth of the basketball media market in Norway.

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.