Market Trends of North America Spectator Sports Industry
Rising Sports Viewership Driving The Market
Post-COVID-19, digital as well as live sports spectators in North America have observed a continuous increase with increase in the number of events held. With an increasing number of fans and drivers and the expansion of media players, F1 races in the US are attracting a large number of viewers. Last year, among the F1 races globally, the United States Grand Prix weekend had the fourth largest attendance, with more than 440,000 spectators in the racing arena.
Among the sports in the US attracting the largest number of spectators are American football, Basketball, Boxing, Ice Hockey, and others. Along with this rise in sports media, streaming services, including ESPN, CBS Sports, NFL Network, NBA TV, and others, are increasing sports viewership with increasing sports media rights. In Canada, women's professional leagues are attracting a large number of viewers, with ice hockey, football, and baseball emerging as major league sports.
Technical Innovation Enhancing Viewer Experience & Participation
Augmented and Virtual reality are emerging technologies for enhancing the sports viewership of the fans. These technologies are included in professional leagues by creating interactive apps for fans that can be used in Headsets. AI (Artificial Intelligence) is proving its importance in the sports arena by improving team performance and maximizing sponsorship opportunities for improving sports events performance with an enhanced fan experience.
With technological innovation and improving viewers' experience, more than 70% of the Gen Z and Millennials population in North America prefer to watch sports outside the venues. Rising smartphone usage, streaming platforms, and social media have created a significant change in sports viewers' behavior and preferences. To improve viewers' sports experience, television is coming up with curved screens, improving image clarity and field view.
