The Cricket Media Market in GCC nan has seen minimal decline in growth rate due to various factors, such as increasing competition in the Sports market and declining popularity of traditional media outlets. However, the convenience of online streaming services and increasing interest in digital media may drive growth in the future.
Customer preferences: Consumers in the Cricket Media Market are increasingly turning to live streaming options for their cricket viewing experience. This is attributed to the convenience and cost-effectiveness offered by digital platforms, as well as the emergence of numerous specialized platforms catering specifically to cricket fans. Furthermore, the rise of social media influencers in the cricket space has led to a shift in the way fans engage and consume content, with a focus on interactive and personalized experiences.
Trends in the market:
In GCC, the Cricket Media market is following the global trend of a shift towards digital channels for consuming content. Cricket fans are increasingly turning to online platforms and mobile apps to access match updates, highlights, and analysis. This trend is expected to continue in the coming years, with the significant rise in smartphone penetration and internet usage. For industry stakeholders, this presents opportunities to innovate and cater to the evolving consumer preferences. It also requires a strong focus on digital marketing strategies to reach a wider audience and establish a strong online presence. In the Sports Market, the Cricket Media segment is poised for growth, with the trajectory of digital adoption and the potential to tap into the large fanbase of the sport.
Local special circumstances: In GCC countries, the Cricket Media Market thrives due to the regions love for the sport, with Cricket being a popular pastime among locals. Cultural factors, such as the high value placed on traditional sports, have also contributed to the growth of the Cricket Market. Moreover, the presence of major international tournaments, such as the Indian Premier League and the Pakistan Super League, have attracted a large audience, making it a lucrative market for Cricket Media. Additionally, regulatory support and investments in sports infrastructure have further boosted the growth of the Cricket Market in the region.
Underlying macroeconomic factors: The Cricket Media Market within the Sports Market is heavily influenced by macroeconomic factors in the GCC region. This includes the overall economic health of the region, as well as fiscal policies and global economic trends. For instance, a strong economy in the GCC region results in increased consumer spending power, which translates to higher demand for sports media, including cricket. Additionally, favorable regulatory environments and investments in sports infrastructure also contribute to the growth of the Cricket Media Market, providing opportunities for the development of various platforms and content. The growing popularity of cricket and increased interest in sports events in the GCC region also play a significant role in driving the demand for cricket media, making it a lucrative market for various stakeholders.
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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