The Cricket Media Market in Ghana is growing but at a minimal decline. This could be due to factors such as limited digital infrastructure and low awareness of online services in the sports industry. However, with increasing adoption of digital technologies in the country, the market is expected to see significant growth in the near future.
Customer preferences: There has been a noticeable increase in the consumption of cricket-related content through social media, particularly among younger demographics in Ghana. This trend is driven by the rising popularity of short-form videos and online streaming platforms, which allow for easy access to live matches and highlights. Additionally, there has been a shift towards more diverse and inclusive storytelling in cricket media, catering to the evolving interests and values of the modern consumer. This includes highlighting the voices and experiences of underrepresented communities in the sport, and exploring topics beyond traditional match coverage. As the market continues to grow, we can expect to see further innovations and developments in the digital space, providing consumers with a more immersive and tailored cricket experience.
Trends in the market: In Ghana, there is a growing trend of using digital media platforms for sports coverage, with many local media outlets investing in digital platforms to reach a wider audience. This trend is aligned with the global shift towards digital media consumption, as well as the increasing popularity of cricket in Ghana. Additionally, there is a rising demand for digital content related to cricket, such as live streaming of matches and online coverage of tournaments, creating opportunities for industry stakeholders to tap into the digital market. As the countrys digital infrastructure continues to develop, this trend is expected to accelerate, leading to a significant impact on the cricket media market and overall Sports market in Ghana.
Local special circumstances: In Ghana, the Cricket Media Market is heavily influenced by the countrys strong cricket culture and history. The government has placed a renewed emphasis on developing the sport, leading to the growth of local leagues and tournaments. Additionally, the high internet penetration rate and increasing affordability of smartphones have opened up opportunities for digital media platforms to cater specifically to the cricket market. Furthermore, Ghanas unique blend of traditional and modern media consumption preferences creates an interesting landscape for cricket media players to navigate.
Underlying macroeconomic factors: The growth of the Cricket Media market in Ghana is influenced by macroeconomic factors such as technological advancements, government support, and investment in sports infrastructure. Countries with favorable regulatory environments and strong investment in sports technology are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Moreover, the increasing popularity of cricket as a sport in Ghana, coupled with the countrys growing economy and youthful demographic, presents a favorable market for Cricket Media companies to expand their reach and tap into new revenue streams.
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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