Cricket Media - Serbia

Serbia

Highlights

Revenue in the Cricket Media market is projected to reach US$22.06k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.38%, resulting in a projected market volume of US$26.05k 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$0.90 in 2024.
In the Cricket Media market, the number of users is expected to amount to 27.9k users by 2029.
User penetration in the Cricket Media market will be at 0.3% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cricket Media Market in Serbia has seen sluggish growth with a decline in recent years, attributed to various factors such as limited digital adoption, low health awareness, and lack of convenience in online services.

Customer preferences: In Serbia, there has been a noticeable rise in the popularity of cricket, with a growing number of cricket clubs and tournaments being organized. This has led to an increase in demand for cricket media, with fans seeking up-to-date coverage and analysis on their favorite teams and players. Additionally, there has been a shift towards consuming this content online, with social media platforms and streaming services becoming the preferred medium for following cricket news and updates. This trend can be attributed to the increasing use of smartphones and internet connectivity, especially among the younger demographic in Serbia. Thus, the Cricket Media Market is expected to further evolve towards digital platforms to cater to the changing preferences of consumers.

Trends in the market: In Serbia, the Cricket Media Market is seeing a surge in online streaming services for cricket matches, with platforms offering live and on-demand coverage to cater to the growing fan base. In the wider Cricket Market, the use of social media to share highlights and engage with fans has become a key trend. This trend is expected to continue, with an increasing emphasis on digital content and engagement strategies to reach and retain audiences. For industry stakeholders, this presents opportunities for monetization and expansion, but also challenges in adapting to the fast-paced nature of digital media and catering to the demands of a tech-savvy fan base. Overall, the continued growth of digital media in the Cricket Market has the potential to revolutionize the way cricket is consumed and experienced by fans.

Local special circumstances: In Serbia, the Cricket Media Market is still in its early stages of development, with limited exposure and interest in the sport. However, with the rising popularity of other European cricket leagues, such as the T10 League and the European Cricket League, the market is expected to experience growth in the coming years. The countrys small population and lack of cricket infrastructure pose challenges for market expansion. Additionally, strict regulations on advertising and broadcasting of sports events may hinder the growth of the cricket media market in Serbia.

Underlying macroeconomic factors: The Cricket Media Market in Serbia is heavily influenced by macroeconomic factors such as the countrys economic stability, fiscal policies, and overall national economic health. With an increase in disposable incomes and consumer spending, there is a significant potential for growth in the Cricket Market within the Sports Market. Additionally, the uptake of digital media platforms and advancements in technology has enabled the Cricket Media Market to reach a wider audience, creating more opportunities for revenue growth. Furthermore, favorable policies and investments in the sports sector by the Serbian government have led to the development and promotion of cricket, which is expected to further boost the growth of the Cricket Media Market in the country.

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.