Dublin, July 29, 2024 (GLOBE NEWSWIRE) -- The "World Market for Professional Sports" report has been added to ResearchAndMarkets.com's offering.
The sports industry continues its post-pandemic recovery in 2024, with strong attendances and significant commercial activity, especially with brands from emerging industries. Fan engagement and exposure growth remain the main goals in the industry, while the main challenge is increasingly attracting and retaining the attention of younger consumers.
Key Findings
Innovative blending with entertainment increasingly plays a key role in fan engagement
More sports properties are turning to blended forms of sport and entertainment to spur fan engagement. To reach out to the youngest generations, this usually involves boosting the digital presence in both the videogaming and social media areas. However, older and more traditional fans are also increasingly seeing enhanced venue capabilities for a year-round experience, rather than matchday-only engagement.
Tech continues to disrupt and open opportunities, making authenticity more valued
Sport organisations continue to expand their efforts to leverage technological advances to their benefit (both on and off the pitch), improving working methods but also fan outreach and engagement through tailored and advanced content. However, as with other fields disrupted by tech and AI, authentic forms of communication with fans will become paramount to maintain close relationships between sports properties and their fans.
Event organisers focus on sustainability and inclusivity to cater to changing preferences of fans
In recent years, most sport stakeholders have been reflecting broader sustainability and inclusivity concerns in their mid-to-long-term growth strategies. These key topics are at the centre of top-flight events taking place in 2024, such as Euro 2024 and the Olympic Games, which are seen as important occasions to showcase how sports can be at the front of social stances and sustainability issues.
The value of broadcasting continues to grow, with OTT providers competing with traditional broadcasters
More over-the-top (OTT) streaming services are entering live sports broadcasting and securing the broadcasting rights for top competitions across several geographies. The increased competition for traditional broadcasters in the broadcast rights space will continue to drive up the value of broadcasting deals, potentially impacting the affordability of live sports broadcasting for consumers.
Report Scope
The World Market for Professional Sports Global report is designed for stakeholders across the spectrum of professional sports. It provides insights into sports fanbases (current year and five-year historic review period) such as attendance and ticketing statistics, alongside engagement rates across a range of social media platforms for leagues, teams, events, and athletes. These insights are underpinned by commercial partnership data (sponsors, suppliers, broadcasters and more) across key markets, providing stakeholders a comprehensive understanding of commercial trends within the sports industry.
Product coverage: American Football, Australian Football, Baseball, Basketball, Boxing, Cricket / T20, Esports, Football / Soccer, Golf, Ice Hockey, MMA, Motorsport, Rugby League, Rugby Union, Tennis.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Key Topics Covered:
State of the industry
- Sports in 2024: driving investment and retaining fan engagement amidst fears of recession
- Annual overview: US and European football leagues dominate; AFL makes it into top 10
- Annual overview: European football wins the lion's share of global attention
- North America remains top sports market for live attendances
- NFL dominates live attendance globally, with European football/soccer leagues on its tail
- Giants within the leagues propel Premier League and La Liga popularity online
- Top European football teams amass stellar digital following
- Finance and insurance companies lead commercial partners' landscape
- Share of foreign sponsorships increases hinting at globalization of sports
- Sponsorship Valuation Model: understanding deal values in major team sports leagues
- Sponsorship Valuation Model: different categories emerge as key across the two regions
- Sponsorship Valuation Model: 18% of sponsorship value remains untapped
- Sponsorship Valuation Model: NFL, NBA make up half of sponsorship value in North America
- Sponsorship Valuation Model: premier league retains dominance in Western Europe
- Sponsorship Valuation Model: apparel and footwear leads with highest sponsorship spend
- Sponsorship Valuation Model: Nike and adidas come on top of other sponsoring brands
- Sponsorship Valuation Model: key insights
Main trends shaping the industry
- Key trends shaping the sports industry
- Sports continue to invest in their entertainment offering to keep fans engaged
- AI redefining the sports industry, but authentic communication remains key
- Euro 2024 and Paris Olympics look to expand borders of sustainability and inclusivity
- Competition for live sports broadcast builds up with more OTT providers
Market & industry snapshots
- Regional Club Index 2024 results: Europe and North America
- Regional Club Index 2024 results: Latin America and Asia Pacific
- Industry snapshot: Apparel and footwear
- Industry snapshot: Finance and insurance
- Industry snapshot: Airlines
- Industry snapshot: Technology, media, telecom (TMT)
- Industry snapshot: Automotive
For more information about this report visit https://www.researchandmarkets.com/r/86ritz
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