Market Insights Advertising & Media Sports

Basketball - Chile

Chile

Revenue in the Basketball market is projected to reach €6.09m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -4.57%, resulting in a projected market volume of €4.82m by 2029.
In global comparison, most revenue will be generated in the United States (€8,842.00m in 2024).
The average revenue per user (ARPU) in the Basketball market is projected to amount to €6.45 in 2024.
In the Basketball market, the number of users is expected to amount to 990.5k users by 2029.
User penetration in the Basketball market will be at 4.8% in 2024.

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Analyst Opinion

The basketball market in Chile is seeing minimal growth, affected by factors such as limited media coverage, limited demand for merchandise, and high ticket prices. However, with increasing adoption of digital technologies, there is potential for growth and improved convenience for consumers in accessing online services.

Customer preferences: As the popularity of basketball continues to rise in Chile, consumers are increasingly seeking ways to enhance their game and stay updated with the latest trends. This has led to a surge in demand for fitness and training apps, as well as virtual coaching services. Additionally, with the growing health and wellness consciousness in the country, there has been a shift towards sports nutrition and supplements, catering to the specific needs of basketball players. This trend is further fueled by the rise of online shopping platforms and the ease of access to these products.

Trends in the market: In Chile, the Basketball market has seen a surge in the popularity of online platforms for watching live games and accessing game statistics. As digital platforms continue to expand, it is likely that these trends will continue and potentially evolve into more advanced features such as virtual reality experiences. This could have far-reaching implications for stakeholders, including increased revenue for teams and leagues, but also potentially impacting ticket sales and traditional broadcast methods. Additionally, the rise of player analytics and data-driven strategies within the sport could also play a significant role in shaping the future of the basketball market in Chile.

Local special circumstances: In Chile, the Basketball Market is heavily influenced by its strong basketball culture and the countrys geographical location. With its close proximity to Argentina, a powerhouse in the sport, Chile has a strong base of skilled players and a passionate fan base. Additionally, the countrys economic stability and increasing disposable income have led to an increased interest in recreational and professional basketball, with the formation of local leagues and clubs. These factors, along with the governments support for sports development, contribute to the growth and success of the Basketball Market in Chile.

Underlying macroeconomic factors: The growth of the Basketball Market within the Sports Market in Chile is also influenced by macroeconomic factors such as national economic health, fiscal policies, and global economic trends. A stable and growing national economy can lead to increased consumer spending on sports and leisure activities, including basketball. Favorable fiscal policies that encourage business growth and investment can also have a positive impact on the overall Sports market, including the basketball industry. Moreover, fluctuations in global economic trends, such as changes in currency exchange rates, can impact the cost of importing or exporting sports equipment and merchandise, which can ultimately affect market performance in Chile.

Methodology

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.