Market Insights Advertising & Media Sports

American Football - South Korea

South Korea

Revenue in the American Football market is projected to reach €3.96m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.31%, resulting in a projected market volume of €4.44m by 2029.
In global comparison, most revenue will be generated in the United States (€23,960.00m in 2024).
The average revenue per user (ARPU) in the American Football market is projected to amount to €7.11 in 2024.
In the American Football market, the number of users is expected to amount to 600.4k users by 2029.
User penetration in the American Football market will be at 1.1% in 2024.

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The American Football market in South Korea is gradually growing due to increasing media coverage, merchandise availability, and ticket sales. However, it is experiencing minimal growth as compared to other Sports markets in the country. Factors like lack of popularity, limited participation, and cultural preferences impact the growth rate of the American Football market in South Korea.

Customer preferences: As technology and social media continue to be integrated into everyday life in South Korea, the American Football Market within the Sports Market has seen a similar trend with the rise of online and virtual experiences. This includes live streaming of games, virtual coaching and training programs, and online merchandise sales. The convenience and accessibility of these options have attracted a younger demographic who are eager to explore alternative ways of consuming and engaging with the sport. As a result, the industry has adapted to cater to this growing demand for digital experiences.

Trends in the market: In South Korea, there is a growing interest in American football, with more youth and adults participating in the sport and an increase in televised coverage of games. Additionally, the American Football League of Korea has been expanding, with new franchises and increased sponsorship deals. In the United States, there has been a rise in fantasy football leagues and online betting, allowing for increased engagement with the sport. This trend is significant as it can lead to a larger global audience and potential partnerships between American and South Korean football leagues. However, it also brings potential concerns for player safety and the impact of commercialization on the sport.

Local special circumstances: In South Korea, the American Football market has been slow to gain traction due to the countrys strong preference for traditional sports like soccer and baseball. American football is seen as a foreign concept and has not been widely embraced by local audiences. Additionally, the countrys strict military service requirements for male citizens limit the pool of potential players and hinder the development of a strong professional league. However, the use of virtual reality and e-sports technology has helped to fuel interest and participation in American football among younger generations. The governments support for sports culture and investments in state-of-the-art sports facilities have also contributed to the growth of the American football market.

Underlying macroeconomic factors: The American Football Market within the Sports Market is greatly impacted by macroeconomic factors such as consumer spending power, disposable income levels, and overall economic health. Countries with a strong and stable economy tend to have more disposable income, leading to higher demand for sports-related products and activities. Additionally, favorable fiscal policies, such as tax incentives for sports organizations, can also positively influence the market. On the other hand, countries with economic challenges may see a decrease in consumer spending and investment in the American Football Market, thus affecting its growth.

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.