The Basketball Ticket Sales market in EU-27 has seen minimal growth due to factors like limited stadium capacity, uncertain game schedules, and low consumer demand. This has led to stagnant growth as compared to other markets within the sports industry.
Customer preferences: Amidst the growth of the Basketball Market within the Sports Market, there has been a notable increase in demand for online ticket sales and digital event experiences. Due to the COVID-19 pandemic, consumers are increasingly valuing the convenience and safety of virtual attendance options. This trend is expected to continue, with virtual ticket sales becoming a permanent fixture in the basketball market, even as in-person events resume. Additionally, younger generations are more inclined towards interactive and technologically immersive experiences, indicating a continued preference for digital event experiences in the future.
Trends in the market:
In the EU-27, the demand for online ticket sales in the Basketball Market is on the rise, as more fans prefer the convenience and accessibility of purchasing tickets online. This trend is expected to continue, with a projected growth of 8.5% in the online ticket sales market by 2025. This shift towards digital platforms is significant for multiple stakeholders, such as sports teams, event organizers, and ticketing companies, as it allows for increased ticket sales and marketing opportunities. Additionally, the use of digital ticketing also allows for better data collection and analysis, aiding in the development of targeted marketing strategies and fan engagement initiatives. However, this trend may present challenges for traditional ticketing methods and in-venue sales, highlighting the need for industry players to adapt and invest in digital solutions.
Local special circumstances: In the EU-27, the Basketball Ticket Sales Market is heavily influenced by the popularity of the sport in different member states. For example, countries such as Spain, Greece, and Turkey have a strong basketball culture, leading to higher demand for tickets and overall ticket sales. Another factor is the ticket pricing, with some countries having a higher willingness to pay for premium seats compared to others. Additionally, the availability of public funding for basketball events and facilities also plays a role in the market dynamics.
Underlying macroeconomic factors: The Basketball Ticket Sales Market in the EU-27 is greatly affected by macroeconomic factors such as the overall economic health of the region, consumer spending patterns, and government policies. The current global economic downturn has resulted in a decrease in disposable income, leading to lower consumer spending on non-essential items such as sports tickets. Moreover, fiscal policies implemented by the governments also impact the sales of basketball tickets. For instance, higher taxes on luxury goods might discourage consumers from purchasing expensive tickets. Additionally, economic factors such as unemployment rates and GDP growth also influence the purchasing power of consumers, ultimately affecting the demand for basketball tickets.
Data coverage:
The data encompasses B2C revenues. Figures are based on ticket spending. All monetary figures refer to consumer spending on goods in the respective segment, which can be online and offline.Modeling approach / Market size:
Market sizes are determined through a combination of bottom-up and top-down approaches, 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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