In Saudi Arabia, the Basketball Media Market is facing stagnant growth due to various factors such as slow adoption of digital technologies, low health awareness among consumers, and limited convenience offered by online services. Despite being a part of the booming Sports Market, this niche market is struggling to keep up with the digital shift.
Customer preferences:
As the popularity of basketball continues to grow in Saudi Arabia, there has been a noticeable increase in the demand for basketball media content, specifically through digital channels. With the rise of smartphone penetration and internet connectivity in the country, consumers are now able to access basketball-related content and news in real-time, contributing to the overall growth of the basketball media market. In addition, the adoption of social media as a primary source of information and engagement for young Saudis has led to the emergence of social media influencers and content creators focused on basketball, catering to the preferences of this demographic. This shift towards digital consumption and influencer-led content has also opened up opportunities for brands to connect with their target audience through partnerships and sponsorships, further boosting the growth of the basketball media market within the larger Sports market in Saudi Arabia.
Trends in the market: In Saudi Arabia, the Basketball Media Market within the Sports Market is expanding with the rise of digital media consumption and the increasing popularity of basketball among the youth. This trend is significant for industry stakeholders as it presents opportunities for new partnerships and sponsorships. Additionally, the use of social media influencers and online streaming platforms to reach a wider audience is on the rise. With the growing access to high-speed internet, this trend is expected to continue, providing a platform for increased engagement and revenue generation in the Basketball Media Market.
Local special circumstances: In Saudi Arabia, the Basketball Media Market is influenced by its strong religious and cultural traditions, as well as government regulations on media content. This has led to a unique market dynamic, with a focus on conservative and family-friendly content. Additionally, the countrys geographical size and population distribution also impact the market, as there is a higher concentration of basketball fans in urban areas. This has led to a demand for innovative digital platforms that cater to these specific demographics, highlighting the influence of local factors on the Basketball Media Market in Saudi Arabia.
Underlying macroeconomic factors:
The Basketball Media Market of the Basketball Market within the Sports Market in Saudi Arabia is heavily influenced by macroeconomic factors such as the countrys strong economic growth, stable fiscal policies, and increasing consumer spending. As Saudi Arabia continues to diversify its economy away from oil dependence, there has been a significant focus on investing in sports as a means to drive economic growth. This has led to a rise in demand for basketball content and media, as well as an increase in advertising and sponsorship opportunities. Moreover, the countrys young and tech-savvy population, combined with growing consumer appetite for sports and entertainment, has also contributed to the growth of the Basketball Media Market in Saudi Arabia.
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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