Basketball - South America | Statista Market Forecast

Revenue in the Basketball market is projected to reach US$89.95m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -3.00%, resulting in a projected market volume of US$77.22m 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$8.17 in 2024.
In the Basketball market, the number of users is expected to amount to 12.4m users by 2029.
User penetration in the Basketball market will be at 2.7% 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 Sports market in South America, specifically the basketball market, has been experiencing steady growth. This can be attributed to the increasing popularity of basketball in the region, as well as the rise of digital technologies in the sports industry. Despite this growth, the markets overall growth rate remains relatively stagnant due to various factors such as economic challenges and limited infrastructure for merchandising and ticket sales. Additionally, the market also faces competition from other popular sports in the region, which can impact its growth rate. However, with the increasing use of digital platforms and the potential for international partnerships, the basketball market in South America has the potential for significant growth in the future.

Customer preferences: As the popularity of basketball continues to rise in South America, there has been a noticeable shift towards more inclusive and diverse team rosters. This can be attributed to the growing acceptance of diversity in sports and the increasing representation of marginalized groups in the sport. Additionally, there has been a notable increase in fan engagement and support for teams that prioritize diversity and inclusion, highlighting a changing consumer preference for socially responsible organizations. This trend is also reflected in the rising demand for merchandise and merchandise collections that promote diversity and inclusivity within the basketball market.

Trends in the market: Within the Basketball Market in South America, there is a significant focus on the development and promotion of youth talent. This trend can be seen through an increase in investment in youth basketball academies and leagues. This trajectory is significant as it not only strengthens the overall talent pool in the region, but also nurtures future potential stars who may ultimately benefit the industry. Furthermore, this trend has led to an increase in fan engagement, as spectators have a vested interest in the growth and success of their local teams and players. Industry stakeholders such as teams, sponsors, and broadcasters should keep a close eye on this trend as it could potentially impact the popularity and competitiveness of the South American Basketball Market.

Local special circumstances: In South America, the Basketball Market has been heavily influenced by the regions passion for the sport. In countries such as Argentina, Brazil, and Venezuela, basketball has deep cultural roots and is widely played at both amateur and professional levels. This has led to a strong local fan base and high demand for live games, merchandise, and other associated products. Additionally, the relatively low cost and accessibility of the sport has contributed to its popularity among the youth in these countries. Governments have also recognized the economic potential of basketball and have implemented policies to support the development of the sport. For instance, in Colombia, the government sponsors youth basketball programs and has also invested in the construction of new arenas and training facilities. Overall, these unique local factors have created a thriving basketball market in South America, with a growing number of fans, players, and business opportunities.

Underlying macroeconomic factors: The Basketball Market within the Sports Market in South America is greatly influenced by macroeconomic factors such as the economic health of the region, fiscal policies, and global economic trends. Countries with stable economies and supportive fiscal policies are experiencing faster growth in the market compared to regions with economic instability and unfavorable policies. Moreover, the rising popularity of basketball in South America and the increasing disposable income of consumers are also contributing to the growth of the market. Additionally, the constant investments in sports infrastructure and the growing interest of international investors in the South American Sports market are propelling the growth of the basketball market.

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.

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