The Basketball Media Market in Canada has seen minimal growth due to factors such as the declining popularity of traditional media and the rise of digital platforms. This is impacted by the increasing use of online media for sports coverage, as well as changing consumer preferences and behaviors.
Customer preferences: As the popularity of basketball continues to grow in Canada, the demand for basketball media content has also increased. With the rise of social media and digital platforms, consumers are seeking more interactive and personalized content from their favorite teams and players. This trend is driven by the desire for a more immersive and engaging viewing experience, especially among younger demographics. Additionally, the emphasis on inclusivity and diversity in the sports industry has led to a rise in diverse voices and perspectives in basketball media, catering to a wider audience and reflecting the changing cultural landscape.
Trends in the market: In Canada, there has been a surge in online streaming platforms for basketball games, with major networks like TSN and Sportsnet offering live games on their websites and apps. This trend is expected to continue as more consumers turn to digital platforms for sports content consumption. In terms of media coverage, there has also been a rise in the use of social media influencers and athlete-created content, as well as a shift towards human interest stories and behind-the-scenes coverage. This trajectory emphasizes the growing importance of online and social media in the basketball market, and presents opportunities for industry stakeholders to reach and engage with a wider audience. However, it also poses challenges for traditional media outlets and their revenue streams, as well as potential issues with social media regulation and athlete endorsements.
Local special circumstances: In Canada, the Basketball Media Market is heavily influenced by the popularity of the sport and the countrys strong basketball culture. Additionally, the strict regulations on foreign ownership of media companies create a unique market where local players dominate. The countrys large and diverse geography also affects the dynamics of the market, with different regions having varying levels of interest and participation in the sport. Furthermore, Canadas bilingual nature presents a challenge for media companies in catering to both English and French-speaking audiences.
Underlying macroeconomic factors: The growth of the Basketball Media Market within the Sports Market is impacted by various macroeconomic factors in Canada. These include the overall economic health of the country, global economic trends, fiscal policies, and other financial indicators. Canadas strong economy, stable political climate, and supportive regulatory environment create a favorable market for the Basketball Media Market. Additionally, the countrys high per capita income and increasing investment in sports infrastructure further contribute to the growth of the Basketball Market and its related media market segment. Moreover, the growing popularity of basketball and increased media coverage of the sport are also driving market growth in Canada.
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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