In Ghana, the Soccer Media Market is experiencing minimal growth due to factors such as lower investment and limited access to digital technologies. These pose a challenge to the overall growth rate of the market within the Sports Market in the country. However, the rising coverage and promotion of soccer events may lead to a potential increase in the future.
Customer preferences: The rise of social media has greatly impacted the Soccer Media Market in Ghana, with soccer clubs and players leveraging platforms like Twitter and Instagram to engage with fans and promote their content. This trend has been fueled by the countrys young and tech-savvy population, who actively consume and engage with social media content. Additionally, the increase in internet and smartphone usage in Ghana has led to a growing appetite for online streaming of live soccer matches and highlights, further driving the demand for digital soccer media content.
Trends in the market: In Ghana, the Soccer Media Market within the Sports Market is experiencing a shift towards digital platforms. With the increasing popularity of mobile technology, there has been a rise in streaming services for live games and social media platforms for real-time updates and interactions. This trend is expected to continue, with more sports media outlets investing in digital content and online engagement strategies. This shift towards digital also presents opportunities for industry stakeholders to reach a wider audience and generate new revenue streams. However, it may also pose a challenge for traditional media channels that rely on advertising revenue. As the demand for digital content grows, it will be important for industry stakeholders to adapt and remain competitive in this evolving market.
Local special circumstances: In Ghana, the Soccer Media Market of the Soccer Market within the Sports Market is heavily influenced by the countrys passion for soccer and its vibrant local culture. The market is also shaped by the popularity of the English Premier League and its broadcast rights in the country. Additionally, emerging technologies and social media platforms have transformed the way Ghanaians consume and engage with soccer, creating unique opportunities for media companies. Regulatory constraints and limited infrastructure, however, pose challenges for market growth.
Underlying macroeconomic factors: The Soccer Media Market of the Soccer Market within the Sports Market is greatly impacted by macroeconomic factors such as the level of economic stability, government policies and regulations, and investment in sports infrastructure. Countries with a strong economy and favorable policies towards the sports industry are experiencing high growth in the soccer media market. For instance, Ghana has seen a significant increase in investments in sports facilities and infrastructure, which has contributed to the growth of the soccer media market. In addition, the rising popularity of soccer in the country and across the globe has led to increased demand for media coverage, further driving 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.
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