Market Trends of North America Sports Team And Clubs Industry
Rising Digital Platforms Driving The Market
Football, Basketball, Soccer, and Baseball are leading streaming sports in the United States. Last year, 85% of Americans had streaming accounts, and cable operators were providing attractive offers that drove the sports streaming interest of consumers and providers in the region. Post-COVID-19, TV Viewership of NBA final games in the United States observed a sharp increase, rising to 12.4 Million users last year, diversifying the revenue stream of the sports industry.
Social media is creating a significant impact on the fans' engagement and connections with sports players, creating a challenge for the sports marketing industry to turn athletes into influencers. With the new business model of social media competing for fans' attention, teams and leagues delivering larger content through digital channels are becoming new media rights winners. To increase their reach, sports teams and clubs are investing in e-sports, with an existing market revenue of USD 928 million in the United States last year.
Increasing Sponsorship Driving The Market
NFL (Football), NBA (Basketball), and MLB (baseball) were among the major sports leagues in the United States having sponsorship of greater than USD 1 Billion last year driving North American sports teams and club participation in the leagues. Rising sponsorship in the sports industry over the period transformed businesses/sponsors' goals from raising brand awareness to converting advertisement consumers into their customers.
Sports sponsorship is emerging as a big business in the region with US companies spending more than USD 20 Billion in sports sponsorship as their market strategy during the previous year. Nike, Adidas, Coca-Cola, and Puma exist as the leading sports sponsor brands in the region strengthening the clubs and teams in the region. Revenue from the Sponsorship and Advertisement segment of the United States Esports market has observed an increase to USD 165 Million last year increasing reach of sports and clubs among the youth.
