Soccer Media - Bulgaria

Bulgaria

Highlights

Revenue in the Soccer Media market is projected to reach US$84.47m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.71%, resulting in a projected market volume of US$101.40m by 2029.
In global comparison, most revenue will be generated United Kingdom (US$7.84bn in 2024).
The average revenue per user (ARPU) in the Soccer Media market is projected to amount to US$261.90 in 2024.
In the Soccer Media market, the number of users is expected to amount to 330.8k users by 2029.
User penetration in the Soccer Media market will be at 4.9% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Soccer Media Market in Bulgaria is witnessing steady growth, influenced by factors like the upsurge in digital media consumption, increasing fan engagement, and the convenience offered by online soccer coverage. However, minimal growth rate in the market could be attributed to the lack of investment and infrastructure, as well as limited access to high-quality media content.

Customer preferences: With the rise of social media and internet accessibility, Bulgarian soccer fans are seeking more immediate and interactive ways to engage with their favorite teams and players. This has led to an increase in demand for live streaming and online content, as well as a growing interest in user-generated content and fan forums. Additionally, the younger generation of fans is more tech-savvy and digitally connected, shaping the future of the soccer media market to be more digital-focused and interactive.

Trends in the market: In Bulgaria, the Soccer Media Market is experiencing a significant increase in the consumption of soccer content through online channels and social media platforms. This trend is primarily driven by the growing popularity of smartphones and the high adoption of social media among the younger population. As a result, there is a shift towards digital advertising and sponsorship deals in the soccer market. This trend is expected to continue, with industry stakeholders investing more in digital marketing and partnerships to reach a wider audience and enhance brand visibility. Additionally, this trend is also facilitating the growth of direct-to-consumer offerings, such as live streaming and on-demand content, which presents new revenue opportunities for the industry. Integration of virtual and augmented reality technologies in the soccer media market is another significant trend, providing a more immersive and engaging experience for fans. Overall, these trends indicate the industrys increasing focus on digital solutions and the need for a strong online presence to stay relevant in the competitive soccer market.

Local special circumstances: In Bulgaria, the Soccer Media Market is heavily influenced by the countrys strong cultural ties to soccer and its long-standing love for the sport. This has led to a highly engaged audience, with dedicated fan bases for local clubs and a constant demand for soccer-related content. Furthermore, the market is also impacted by regulatory measures, such as strict broadcasting rights agreements and limitations on foreign ownership of local teams. These factors combine to create a unique and dynamic soccer media market that caters specifically to the Bulgarian audience.

Underlying macroeconomic factors: The Soccer Media Market within the Sports Market is heavily influenced by macroeconomic factors in Bulgaria, such as the countrys economic health and fiscal policies. With a growing economy and stable government, Bulgaria offers a favorable environment for investment in the soccer market, leading to increased demand for media and broadcasting services. Furthermore, the countrys improving technological landscape and adoption of digital platforms also contribute to the growth of the soccer media market. As the popularity of soccer continues to rise globally, the growing middle class in Bulgaria is also contributing to the demand for media coverage of soccer events, further boosting market growth.

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.