Basketball - Bulgaria | Statista Market Forecast

Revenue in the Basketball market is projected to reach US$1.09m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.22%, resulting in a projected market volume of US$1.11m by 2029.
In global comparison, most revenue will be generated United States (US$9.54bn in 2024).
The average revenue per user (ARPU) in the Basketball market is projected to amount to US$14.30 in 2024.
In the Basketball market, the number of users is expected to amount to 104.5k users by 2029.
User penetration in the Basketball market will be at 1.2% in 2024.

Definition:

The Basketball Market encompasses various facets of the sport, including media coverage, ticket sales, and merchandise, catering to the extensive global fanbase of basketball. It includes platforms and channels dedicated to delivering news, analysis, and entertainment related to basketball events worldwide, as well as the sale of tickets for live basketball games and various basketball-related merchandise.

Structure:

Basketball Media: This segment includes revenues from television and online streaming rights for basketball games, providing fans with access to live coverage and analysis.
Basketball Ticket Sales: This segment comprises revenues from the sale of tickets for basketball games held in arenas, online ticketing platforms facilitating ticket purchases, and season ticket packages.
Basketball Merchandise: This segment encompasses revenues from the sale of various basketball-related products and merchandise, such as team jerseys, basketballs, apparel, and memorabilia, allowing fans to showcase their support for their favorite teams and players.

Additional information:

Key metrics within the Basketball Market include revenues, viewers, ticket sales volumes, merchandise sales volumes, and market penetration rates. Revenue streams primarily come from advertising, subscription fees, ticket sales, merchandise sales, and sponsorship deals. Data on broadcasting rights, online viewership, ticketing platforms, popular merchandise items, and fan preferences are essential for understanding market dynamics. Key players in the Basketball Market include broadcasting networks, basketball teams, sports apparel brands, ticketing agencies, and online marketplaces.

For more detailed insights, refer to the additional information provided next to the respective data points.

Ticket sales from games, such as league games
Revenue from merchandise, such as jerseys
Revenue from media rights, such as TV broadcasting

Revenue from player transfers, such as transfer fees
Tickets sold on the secondary market, such as on eBay
Revenue from licensing or sponsorship, such as from logos

The Basketball market in Bulgaria has seen slow growth, due to factors such as limited media coverage and availability of merchandise and tickets. But with increasing awareness of the sport and rising interest among consumers, the market is expected to experience significant growth in the coming years. Online services and convenient access to information will also drive this growth.

Customer preferences: As basketball continues to gain popularity among young people in Bulgaria, there has been a noticeable shift in consumer preferences towards more customizable and specialized equipment. This trend is driven by the growing interest in amateur and recreational leagues, where players seek to enhance their performance with high-tech gear such as basketball shoes with advanced cushioning and customized fitting options. Additionally, the rise of social media influencers and basketball culture has also sparked a demand for stylish and trendy apparel and accessories among fans and players alike.

Trends in the market: In Bulgaria, the Basketball Market within the Sports Market is experiencing a shift towards digitalization, as more basketball leagues and teams are using technology to enhance their operations and engage with fans. This includes live streaming of games, digital ticketing, and social media marketing. Additionally, there is a growing trend of integrating basketball training and fitness apps to help improve player performance. These developments not only provide convenience for stakeholders, but also open up new revenue streams and improve the overall fan experience. With the countrys strong basketball culture, these trends are set to continue and potentially attract more investment in the market.

Local special circumstances: In Bulgaria, the Basketball Market has received significant attention due to the countrys rich basketball history and strong fan base. The market is heavily influenced by the countrys close proximity to other European basketball powerhouses and its cultural love for the sport. Additionally, recent government investments in sports infrastructure and initiatives to promote youth basketball have boosted the markets growth. These local factors make Bulgaria a unique and promising market for the Basketball Market within the Sports Market industry.

Underlying macroeconomic factors: Macro-economic factors have a significant impact on the Basketball Market in Bulgaria. Global economic trends, such as changes in consumer spending and the overall state of the global economy, can influence the demand for basketball products and services in the country. Similarly, the health of the Bulgarian economy, including factors like GDP growth, inflation rates, and unemployment, can also impact the market. Fiscal policies, such as taxation and government spending, can also have a significant influence on market performance. Other relevant financial indicators, such as interest rates and currency exchange rates, can also affect the Basketball Market in Bulgaria. It is essential for businesses operating in this market to closely monitor these macroeconomic factors and adapt their strategies accordingly to remain competitive and successful.

Data coverage:

The data encompasses B2C and B2B revenues. Figures are based on media spending, merchandise spending, and ticket spending. All monetary figures for merchandise and tickets refer to consumer spending on goods or tickets 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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.