The Cricket Media Market in Guyana has seen a slight decline in growth rate due to various factors, such as limited access to digital technologies, low health awareness among consumers, and lack of convenience in online health services. However, efforts are being made to improve these aspects and drive growth in the market.
Customer preferences: As the popularity of cricket continues to rise in Guyana, the Cricket Media Market is seeing a shift towards digital platforms for consuming cricket content. With the younger generation being more tech-savvy, there is a growing demand for live streaming of matches, social media coverage, and interactive content. Additionally, the rise of mobile usage and internet penetration has given consumers more options for accessing cricket content on the go. This trend is further accelerated by the convenience and cost-effectiveness of digital media, making it a preferred choice for the majority of cricket enthusiasts.
Trends in the market: In Guyana, there has been a shift towards digital media consumption, including for cricket. This has resulted in a rise of online streaming services offering live coverage of cricket matches and on-demand content. Furthermore, social media has become a major platform for cricket news and discussions, with fan engagement and user-generated content on the rise. This trend is expected to continue, driven by the increasing popularity of mobile devices and the growing demand for immediate and personalized information. As a result, industry stakeholders such as broadcasters, advertisers, and teams will need to adapt and invest in digital strategies to stay relevant and engage with cricket fans effectively.
Local special circumstances: In Guyana, the Cricket Media Market is influenced by the countrys deep love for the sport, with cricket being the national sport. There is also a strong sense of community and local pride associated with cricket, leading to a significant demand for local cricket media content. Additionally, due to the relatively small size of the market, the media landscape is largely dominated by traditional media outlets, making it a challenge for newer digital platforms to gain traction. This unique combination of factors shapes the dynamics of the Cricket Media Market in Guyana.
Underlying macroeconomic factors: The Cricket Media Market in Guyana is influenced by macroeconomic factors such as the countrys overall economic health and government policies aimed at promoting the sports industry. With an improving economy and increasing investment in infrastructure, the market is experiencing steady growth. Additionally, global trends in media consumption towards digital platforms, coupled with the rising popularity of cricket in Guyana, have also positively impacted the market. However, challenges such as limited financial resources and competition from other forms of entertainment also influence the markets performance.
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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