Basketball Ticket Sales - Lithuania

Lithuania

Highlights

Revenue in the Basketball Ticket Sales market is projected to reach US$418.50k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.61%, resulting in a projected market volume of US$431.40k by 2029.
In global comparison, most revenue will be generated United States (US$2.50bn in 2024).
The average revenue per user (ARPU) in the Basketball Ticket Sales market is projected to amount to US$9.90 in 2024.
In the Basketball Ticket Sales market, the number of users is expected to amount to 42.8k users by 2029.
User penetration in the Basketball Ticket Sales market will be at 1.6% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

In Lithuania, the Basketball Ticket Sales Market is slowly growing due to factors such as lack of marketing strategies, declining interest in basketball, and competition from other sports. This market is facing negligible growth rate, impacted by low consumer demand and shift towards digital ticket purchasing options.

Customer preferences: As the popularity of basketball continues to rise in Lithuania, there has been a noticeable increase in demand for digital ticketing options. Consumers are now looking for convenient and contactless ways to purchase tickets, with many opting for mobile ticketing and online ticket resellers. This trend is driven by a growing preference for a seamless and secure purchasing experience, as well as the need for flexibility and accessibility in purchasing tickets. Additionally, as more consumers prioritize efficiency and convenience, we have also seen a rise in demand for mobile ticket scanning and entry at arenas and venues.

Trends in the market: In Lithuania, the basketball ticket sales market is experiencing a surge in online ticket sales, with more and more fans opting for the convenience of purchasing tickets through digital platforms. This trend is expected to continue as the country ramps up its digitalization efforts. As a result, industry stakeholders such as basketball clubs and event organizers may need to adapt their marketing and sales strategies to cater to this growing digital-savvy audience. Additionally, there is a growing trend towards offering bundled ticket-merchandise packages, providing fans with a more immersive and engaging experience while increasing revenue streams for the industry. This trajectory towards digitalization and innovation in ticket sales has the potential to revolutionize the basketball market in Lithuania and drive growth in the Sports market as a whole.

Local special circumstances: In Lithuania, basketball is deeply ingrained in the countrys culture and is often viewed as the national sport. This strong cultural connection translates to a high demand for basketball tickets, particularly for the games of popular teams such as Zalgiris Kaunas. Additionally, Lithuanias small size and compact geography make it convenient for fans to attend games in person, further driving ticket sales. Furthermore, the governments support for the development of infrastructure and facilities for basketball has also contributed to the growth of the ticket sales market.

Underlying macroeconomic factors: The Basketball Ticket Sales Market in Lithuania is influenced by macroeconomic factors such as the countrys economic growth, government policies, and consumer confidence. As the countrys economic health improves, consumers have more disposable income to spend on entertainment, including basketball games and tickets. On the other hand, a sluggish economy can negatively impact ticket sales. In addition, the stability of the national currency, inflation rates, and taxation policies can all affect consumer purchasing power. Overall, a favorable macroeconomic environment can lead to increased demand for basketball tickets, while unfavorable conditions may result in lower sales.

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.