The Basketball Media Market in Portugal is seeing minimal growth due to factors such as the saturation of the market and the prominence of traditional media sources. However, the rise in popularity of digital platforms and increasing fan engagement could lead to future growth opportunities.
Customer preferences: With the rise of social media and the digital world, traditional media outlets are facing tough competition in the basketball market. Today, consumers prefer to consume basketball content on their phones, tablets, and other digital devices. This shift in consumer behavior has led to an increase in demand for well-produced, engaging content on social media platforms, tailored specifically for the basketball market. Brands and teams are now collaborating with popular social media influencers to reach a wider audience, tapping into the potential of social media as a powerful marketing tool in the basketball media market.
Trends in the market: In Portugal, the Basketball Media Market within the Sports Market is experiencing a surge in demand for streaming services. With the rise of digital platforms and social media, more fans are turning to online sources for live game coverage, highlights, and analysis. This trend is expected to continue, as younger audiences prefer consuming sports content on their mobile devices. Additionally, as the use of virtual and augmented reality in sports broadcasting grows, it could provide new opportunities for industry stakeholders to enhance the fan experience. Overall, the rise of digitalization in the Basketball Media Market has significant implications for traditional media outlets and could lead to further changes in how basketball is consumed in Portugal.
Local special circumstances:
In Portugal, the Basketball Media Market is influenced by the countrys strong passion for sports and the growing popularity of basketball among the youth. The geographical location, with its mild climate and outdoor sports culture, has resulted in a high demand for outdoor basketball courts and street tournaments. Additionally, Portugals strict laws on advertising and sponsorship of sports events limit the amount of corporate investment in the market. This has led to more creative and grassroots approaches to promoting basketball, such as through local basketball clubs and community outreach programs.
Underlying macroeconomic factors: The growth of the Basketball Media Market is influenced by macroeconomic factors such as consumer spending, advertising budgets, and technological advancements. Countries with a strong economy and high levels of consumer spending have a larger market for basketball media, as companies are willing to invest more in advertising. Additionally, advancements in technology have made it possible for media companies to reach a wider audience through digital platforms, further driving growth in the market. However, in countries with a weaker economy and lower consumer spending, the Basketball Media Market may not be as developed, impacting the overall performance of the Basketball Market within the Sports 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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