Market Insights Advertising & Media Sports Cricket

Cricket Media - Philippines

Philippines

Revenue in the Cricket Media market is projected to reach US$0.42m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.84%, resulting in a projected market volume of US$0.46m by 2029.
In global comparison, most revenue will be generated in India (US$1,164,000.00k in 2024).
The average revenue per user (ARPU) in the Cricket Media market is projected to amount to US$0.26 in 2024.
In the Cricket Media market, the number of users is expected to amount to 1.7m users by 2029.
User penetration in the Cricket Media market will be at 1.3% in 2024.

Market

Region

Region comparison

Currency

Analyst Opinion

The Cricket Media market in Philippines has seen slow growth due to factors such as limited access to technology and low health awareness. Despite the minimal decline, convenience of online services may lead to future growth in this market.

Customer preferences: With the growing popularity of cricket in the Philippines, there has been a noticeable increase in digital platforms and streaming services catering specifically to cricket enthusiasts. This is attributed to the changing consumer preferences, with audiences turning to online sources for live coverage and highlights of major cricket tournaments. The rise of digital media in the country has also led to more diverse and localized content, with a focus on the Filipino cricket community. Additionally, the younger demographics reliance on digital platforms for entertainment has further boosted the demand for online cricket content. This trend is likely to continue as the regions digital landscape continues to evolve.

Trends in the market: In the Philippines, the Cricket Media Market is experiencing a surge in online streaming services for live cricket matches, as well as the development of mobile apps for easier access to sports news and updates. This trend is significant as it caters to the increasing demand for on-the-go and immediate access to sports content. Moving forward, stakeholders in the industry may need to invest in new technologies and partnerships to keep up with this trend and reach a wider audience. Additionally, there is potential for further growth in the market as more Filipinos turn to digital platforms for their sports media consumption.

Local special circumstances: In the Philippines, the Cricket Media Market within the Sports Market holds great potential due to the countrys love for cricket and increasing access to digital media. However, it faces challenges such as limited internet connectivity in rural areas. Additionally, the niche nature of cricket may limit its audience compared to other popular sports. The market also faces unique cultural factors, as cricket is not traditionally a popular sport in the Philippines, which may require innovative approaches to attract and engage local audiences.

Underlying macroeconomic factors: The Cricket Media Market in the Philippines is heavily influenced by macroeconomic factors such as the countrys economic growth, foreign investment, and government policies. As the Philippines continues to experience promising economic growth, coupled with a strong presence of foreign investors in the countrys media industry, the Cricket Media Market is expected to see positive growth. Moreover, the governments support for the development and enhancement of the countrys sports sector, including cricket, further reinforces its potential for growth within the larger Sports Market. Additionally, the growing interest in sports and media consumption among the population, as well as the increasing availability of digital platforms, have contributed to the overall growth of the Cricket Media Market in the Philippines.

Methodology

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.