The Soccer Media Market in Lithuania is gradually growing due to the rise in digital technologies, greater health consciousness in fans, and the convenience of online services. However, the markets minimal growth rate may be influenced by factors such as limited financial investments and slow adoption of advanced digital resources in the countrys sports industry.
Customer preferences: With the growth of internet and digital media, there has been a huge shift in how consumers in Lithuania engage with soccer content. More and more fans are turning to online platforms and social media to access news, highlights, and live coverage of matches. This trend is fueled by the rise of mobile devices and the increased availability of high-speed internet. Additionally, with the growing interest in international leagues and players, there is a rising demand for multilingual content and online streaming options. This reflects a shift towards a more globalized and connected approach to consuming soccer media.
Trends in the market: In Lithuania, the Soccer Media Market within the Sports Market is experiencing a shift towards digital streaming and online content. This trend is driven by the increasing popularity of online streaming services such as DAZN, which recently entered the Lithuanian market. Additionally, there is a growing demand for social media coverage and personalized content from fans. This trend has significant implications for media companies, who must adapt to the changing landscape and focus on digital channels to reach their audience. It also presents opportunities for advertisers to target specific and engaged audiences. With the continuous growth of digital platforms in the Sports market, it is essential for industry stakeholders to stay updated and invest in digital strategies to remain competitive.
Local special circumstances: In Lithuania, the Soccer Media Market is heavily influenced by the countrys love for the sport and its strong soccer culture. This has led to a high demand for soccer-related content, both online and on traditional media platforms. The local governments support and investments in infrastructure development have also played a role in shaping the market. Additionally, the countrys small population and limited geographic size impact the market, as media companies must cater to a smaller audience compared to larger countries. These factors contribute to the unique dynamics of the Soccer Media Market in Lithuania, setting it apart from other markets around the world.
Underlying macroeconomic factors: The Soccer Media Market in Lithuania is greatly influenced by macroeconomic factors such as the overall health of the countrys economy, policies and investments related to the sports industry, and the state of the global economy. Countries with strong economic growth and stable fiscal policies tend to have higher demand for sports media, resulting in a thriving market. Additionally, investments in sports infrastructure and facilities, as well as government support for the development of the sports industry, can also contribute to the growth of the Soccer Media Market in Lithuania. Furthermore, global economic trends, such as the rise in disposable income and the increasing popularity of sports on a global scale, can also impact the demand for soccer media and contribute to 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.
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