Cricket Media - Saudi Arabia

Saudi Arabia

Highlights

Revenue in the Cricket Media market is projected to reach US$681.70k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.73%, resulting in a projected market volume of US$742.90k by 2029.
In global comparison, most revenue will be generated India (US$1.16bn in 2024).
The average revenue per user (ARPU) in the Cricket Media market is projected to amount to US$0.99 in 2024.
In the Cricket Media market, the number of users is expected to amount to 723.2k users by 2029.
User penetration in the Cricket Media market will be at 1.8% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cricket Media Market in Saudi Arabia has seen a slight decline in growth rate due to factors such as limited access to technology and traditional preference for cricket in the Sports market. However, the increasing popularity of digital media is expected to drive growth in the near future.

Customer preferences: With the rapid growth of social media platforms and increasing popularity of mobile devices, the Cricket Media Market in Saudi Arabia is experiencing a significant shift towards digital content consumption. This trend is primarily driven by the younger generation, who are more tech-savvy and prefer accessing content on their smartphones. Additionally, with the inclusion of live streaming features on social media, there has been a surge in demand for live coverage of cricket matches, providing fans with an immersive viewing experience and increasing engagement. Furthermore, the rise of influencer marketing has also had a significant impact on the Cricket Media Market, with brands capitalizing on the reach and influence of popular social media personalities to promote their products and services.

Trends in the market: In Saudi Arabia, the Cricket Media Market is experiencing a shift towards digitalization, with online streaming platforms offering live coverage of cricket matches. This trend is driven by the increasing availability of high-speed internet and a growing interest in cricket among the youth. Moreover, there is a rise in the use of social media platforms for sports content consumption, allowing for targeted marketing and sponsorship opportunities. These trends are expected to continue, creating new revenue streams for cricket media companies and attracting more international investment in the Saudi Arabian cricket market.

Local special circumstances: In Saudi Arabia, the Cricket Media Market is influenced by the countrys conservative cultural norms, which limit opportunities for womens participation in sports. As a result, the focus of the market is on mens cricket, with a strong emphasis on the national team. Additionally, the governments recent investments in sports infrastructure and academies have helped boost the popularity of cricket among the younger generation. This, coupled with the countrys booming youth population and increasing disposable income, offers promising growth potential for the Cricket Media Market in Saudi Arabia.

Underlying macroeconomic factors: The Cricket Media Market in Saudi Arabia is predominantly driven by macroeconomic factors such as economic stability, government initiatives, and consumer spending. With a growing economy and rising disposable income, the demand for sports media, including cricket, has significantly increased in the country. Additionally, the nations investment in sports infrastructure and hosting of international cricket tournaments has further boosted the market. Furthermore, the growing popularity of digital platforms and social media has also played a crucial role in the growth of the Cricket Media Market in Saudi Arabia. With a digitally-savvy population, the country presents a huge potential for the growth of the market.

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.