The spectator sports market has generated revenue of USD 286.99 billion in the current year and is poised to achieve a CAGR of more than 5% for the forecast period.
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Key Highlights
- Football and cricket are among the sports with the largest numbers of fans globally at more than 3.5 billion. The number and share of live sports viewers in the United States are observing a continuous increase, with around 47% (159 million) of the population watching live sports last year. Summer Olympics, FIFA World Cup, Winter Olympics, and English Premier League were among the most popular sports last year, attracting the largest number of Spectators.
- With the advent of COVID-19, sports organizations, sports organizations, and other players suffered a major loss with empty and limited seating in stadiums. This leads the markets and fans to adopt technology instead of going to watch events. TV viewership and social media engagement of fans observed an increase during the period for sports events and updates. A large segment of sports fans exists in the age group of above 35, driving the sports spectator market.
Spectator Sports Market Trends
Rising In Global Sports Events
- Football, basketball, and baseball are among the sporting events in the United States attracting the largest number of viewers, with soccer and cricket existing among the sports events attracting the largest number of International Fans.
- Last year, the Fifa World Cup Qatar had an engagement of around 5 billion people with an engagement of 5.95 billion engagement over social media. Leading cricket leagues of IPL (Indian Premier League) are increasing the number of matches, with 74 matches played in the IPL 2022 edition, which is set to be expanded to 94 matches in the coming five years, attracting more spectators and increasing revenue for the league.
- F1 race attendance is observing an increase post-COVID, existing at 3 million fans last year combined with a rising TV audience and watch time on social and digital platforms. The emerging F1 event market of India attracted a total of 5.7 million fans last year, contributing to an expanding F1 fans in the market.
Digital Media Penetration Raising Sports Spectator
- The average annual value of live sports TV broadcasting globally has observed a continuous increase with more people updating themself with sports events from their place of comfort. OTT broadcasting platforms for sports, such as Amazon Prime Video and DAZN, are competing with traditional TV broadcasting models (Sky, BT, ESPN, and others) for exclusive rights to broadcast and stream live professional sporting events.
- Streaming websites such as Amazon are paying a premium in an attempt to take control of live sports broadcasting events of the National Football League, the Indian Premier League. During last year's NFL session, Amazon broadcast averaged 9.58 million viewers per game towards its aim of creating a standalone app for sports content in its efforts to add a new revenue stream.
Spectator Sports Industry Overview
Post-COVID, as the sports industry is observing growth with more people engaging and developing interest in different sports activities, players operating in the spectator sports market are observing an increased business opportunity. The sports spectator market is still fragmented, with new players continuously entering the market to expand their revenue sources through their engagement in different sports activities. Online sports streaming platforms are competing for streaming rights bidding in the market.Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS AND INSIGHTS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Methodology
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