Sports

Revenue in the Sports market is projected to reach US$1.04bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.92%, resulting in a projected market volume of US$1.21bn by 2029.
In global comparison, most revenue will be generated United States (US$49.76bn in 2024).
The average revenue per user (ARPU) in the Sports market is projected to amount to US$65.36 in 2024.

Definition:

The sports market encompasses various segments related to popular sports such as Soccer, Football, Basketball, Baseball, and Cricket. These segments include media, ticket sales, and merchandise sales, catering to the diverse needs of sports enthusiasts worldwide.

Structure:

Media: This market focuses on revenues generated from broadcasting rights, digital streaming services, advertising, and sponsorships related to sporting events. It encompasses television broadcasting, online streaming platforms, and radio broadcasts dedicated to Soccer, Football, Basketball, Baseball, and Cricket.
Ticket Sales: This part comprises revenues generated from the sale of tickets for live sporting events, including matches, tournaments, and championships in Soccer, Football, Basketball, Baseball, and Cricket. It encompasses sales from both physical ticket outlets and online ticketing platforms.
Merchandise Sales: This market includes revenues derived from the sale of sports-related merchandise such as jerseys, caps, memorabilia, equipment, and accessories associated with Soccer, Football, Basketball, Baseball, and Cricket. It covers sales through retail outlets, online stores, and official team or league merchandise shops.

Additional information:

The market metrics include revenues, users, average revenue per user, and market penetration rates. Revenues are primarily driven by consumer spending on media subscriptions, ticket purchases, and merchandise. Insights into the consumer market also encompass data on specific sports events, teams, and leagues, providing comprehensive analytics for informed decision-making.

Key players in the sports market include major sports leagues, broadcasting networks, sports apparel brands, and retail chains specializing in sports merchandise. For further details on the data presented, refer to the information provided alongside the respective data sets.

Ticket sales from games, such as league games
Revenue from merchandise, such as jerseys
Revenue from media rights, such as TV broadcasting

Revenue from player transfers, such as transfer fees
Tickets sold on the secondary market, such as on eBay
Revenue from licensing or sponsorship, such as from logos

The Sports market in South Korea has seen slow growth due to increasing competition from traditional and emerging sports, declining participation rates, and shifting consumer preferences towards other forms of entertainment. While there is still niche popularity in Soccer and Baseball, the overall market growth has been minimal. Factors such as the saturation of existing markets and the high costs associated with participating in sports are limiting growth potential.

Customer preferences: Sports and fitness have become increasingly popular among South Koreans, who are prioritizing health and wellness. This trend is reflected in the rise of fitness apps, virtual training programs, and online fitness communities. Additionally, there is a growing demand for sustainable and eco-friendly sports gear and apparel, highlighting the importance of environmental consciousness in consumer preferences. The rise in popularity of outdoor and adventure sports also aligns with the countrys emphasis on outdoor education programs for children.

Trends in the market: In South Korea, the Sports Market is experiencing a surge in demand for virtual and augmented reality technology. This trend is driven by the growing popularity of esports and virtual sports events, creating new opportunities for industry stakeholders. Additionally, with the rise of at-home fitness and online coaching platforms, we can expect to see an increase in personalized training services and a shift towards digital engagement and monetization models. This will not only enhance the fan experience and generate new revenue streams, but also offer a more convenient and accessible approach to sports participation and training for athletes and enthusiasts alike.

Local special circumstances: In South Korea, the Sports Market is heavily influenced by the countrys strong emphasis on education, leading to a highly competitive and organized youth sports culture. This unique aspect of the market has led to a strong grassroots development program, producing talented athletes in various sports. Additionally, cultural values such as hierarchy and discipline play a significant role in the organization and management of sports teams and leagues. This cultural influence has also shaped the way professional sports are marketed and consumed in South Korea.

Underlying macroeconomic factors: The growth of the Sports Market market in South Korea is influenced by macroeconomic factors such as government policies promoting sports, the countrys economic stability, and increasing investment in sports infrastructure. South Korea has a strong sports culture and is hosting major international sporting events, which has led to increased public interest and investment in the sports sector. Additionally, with rising income levels and leisure spending, there is a growing demand for sports and fitness products, driving market growth. Furthermore, favorable government policies, such as tax incentives for sports-related businesses, are also contributing to the markets growth.

Data coverage:

The data encompasses B2C and B2B revenues. Figures are based on media spending, merchandise spending, and ticket spending. All monetary figures for merchandise and tickets refer to consumer spending on goods or tickets 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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.