Soccer Ticket Sales - Nigeria

Nigeria

Highlights

Revenue in the Soccer Ticket Sales market is projected to reach US$34.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.25%, resulting in a projected market volume of US$40.48m by 2029.
In global comparison, most revenue will be generated United Kingdom (US$1.38bn in 2024).
The average revenue per user (ARPU) in the Soccer Ticket Sales market is projected to amount to US$13.08 in 2024.
In the Soccer Ticket Sales market, the number of users is expected to amount to 2.8m users by 2029.
User penetration in the Soccer Ticket Sales market will be at 1.2% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Soccer Ticket Sales Market in Nigeria is witnessing moderate growth due to factors such as increasing fan interest, growing digitalization, and convenience of online ticket purchase. This market is expected to maintain its current growth rate due to changing consumer behavior and economic uncertainty.

Customer preferences: With the rise of social media and the increasing use of technology in everyday life, the Soccer Ticket Sales Market has seen a significant shift towards online ticket sales. Consumers now prefer the convenience and ease of purchasing tickets through mobile apps and websites. This is also driven by an evolving lifestyle where individuals prioritize efficiency and time-saving options. As a result, ticketing platforms and teams have had to shift their focus towards optimizing their online sales strategies in order to cater to the changing preferences of consumers.

Trends in the market: In Nigeria, the Soccer Ticket Sales Market within the Sports Market is experiencing a shift towards digital ticket sales. Many teams and ticketing agencies are offering online ticket purchases to cater to the growing number of tech-savvy fans. This trend is expected to continue as more consumers prefer the convenience and flexibility of buying tickets online. It also allows for better data collection and marketing opportunities for industry stakeholders. However, this may lead to a decline in physical ticket sales, which may impact traditional ticket vendors and smaller clubs with less digital infrastructure.

Local special circumstances: In Nigeria, the Soccer Ticket Sales Market is heavily influenced by the cultural significance of soccer in the country. Nigerians are passionate about the sport, and their love for their local teams is unmatched. This has created a unique market where ticket sales are driven not just by the sporting event itself, but by the intense fan culture that surrounds it. Additionally, the geographical diversity of Nigeria, with a large number of cities and towns spread across the country, also plays a role in the ticket sales market. With each region having its own favorite teams, ticket sales are impacted by the location of the match and the travel arrangements required for fans to attend. Finally, regulatory circumstances, such as government intervention, have also had an effect on the ticket sales market. The Nigerian government has implemented policies to support local soccer teams and encourage attendance at matches, further shaping the dynamics of the market.

Underlying macroeconomic factors: The performance of the Soccer Market within the Sports Market, particularly in terms of ticket sales, is significantly influenced by macroeconomic factors in Nigeria. The countrys economic health, fiscal policies, and global economic trends all have a profound impact on the markets growth and profitability. Nigerias recent economic downturn and currency devaluation have had a negative effect on consumer purchasing power and discretionary spending, which has led to a decline in ticket sales. Furthermore, the countrys inadequate infrastructure and political instability create logistical challenges for event organizers, which can hinder the growth of the Soccer Ticket Sales Market. However, the growing middle class and increasing interest in sports and live events present opportunities for market expansion in Nigeria.

Data coverage:

The data encompasses B2C revenues. Figures are based on ticket spending. All monetary figures refer to consumer spending on goods in the respective segment, which can be online and offline.

Modeling approach / Market size:

Market sizes are determined through a combination of bottom-up and top-down approaches, 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.