Market Trends of Asia Pacific Sports Team And Clubs Industry
Technological Innovations in the Market
- Sports teams and clubs are increasing their market penetration through innovative digital tools of digital advertising, e-commerce, and online streaming services. This has diversified the revenue streams with personalized and enhancing fan participation. There is an increase in the number of people accessing TV programs through internet connections, resulting in audience choices outside the traditional TV channels to platforms such as Amazon Prime Video, Apple TV app, and other channels.
- Existing leagues, such as the IPL (Indian Premier League) in India, are observing growth with a rise in fantasy sports. In the year 2023, IPL fantasy sports generated the highest revenue, creating positive growth for streamed teams/clubs in the market. People watching sports via online live streams in Asia Pacific countries of China, Indonesia, and Taiwan had a significant share of greater than 50% last year.
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Increase In Number Sporting Events
- Over the past years, cricket and football leagues in Asia Pacific have observed a significant increase in viewership. Asian Games, Indian Premier League, and India Super League are among the sporting events attracting huge viewers from the region and outside the region as well. Asia's leading economies, China, Japan, India, and South Korea, are spending a huge sum to popularize sports and sporting events in their countries.
- International teams and leagues, especially football clubs, are entering the Asian market to show off their products and raise their audience. IPL leagues are focusing on increasing the number of matches in each session, generating more revenue for the sports. Recently held World University Games in China raised opportunities for China sports brands and teams. With Asia emerging as a stage for hosting global sports events, it is encouraging participation of its regional sports teams and clubs and opening new opportunities for the market as well.
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