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The Soccer Media Market in South Korea has seen moderate growth due to factors such as growing interest in digital platforms, increased media coverage of the sport, and rising access to online services. However, minimal growth is impacted by limited market reach and competition from traditional media.
Customer preferences:
In South Korea, the rising popularity of soccer and the growth of the Soccer Market within the overall Sports Market has led to a rapid increase in demand for digital media coverage of the sport. Fans are now looking for convenient ways to follow their favorite teams and players, leading to a surge in demand for online soccer streaming services and mobile apps. This trend is driven by the younger demographics preference for on-the-go access to live matches and highlights, as well as the increasing use of social media to engage with and share soccer-related content. Additionally, the countrys tech-savvy culture and high internet penetration rates have contributed to the growth of digital media in the Soccer Market, paving the way for further expansion and innovation in the industry.
Trends in the market: In South Korea, the Soccer Media Market for the Soccer Market within the Sports Market is experiencing a shift towards digital platforms, with online streaming services gaining popularity for live soccer matches. This trend is largely driven by the growing number of younger consumers accessing sports content through mobile devices. Additionally, there is a focus on producing localized content to cater to the specific interests of the Korean market. This has led to partnerships between media companies and Korean soccer teams to provide exclusive coverage and behind-the-scenes content, creating new revenue streams for both parties. These trends highlight the growing importance of digital media in the soccer market and pose opportunities for stakeholders to tap into the burgeoning online fan base.
Local special circumstances: In South Korea, the Soccer Media Market is heavily influenced by the countrys avid soccer fan base and strong infrastructure for broadcasting and advertising. South Korean broadcasters invest significant amounts in acquiring rights to major soccer events, such as the FIFA World Cup, and use innovative technologies to attract viewers. Additionally, the countrys strict regulatory policies, including restrictions on foreign ownership of media companies, play a significant role in shaping the markets competitiveness and consumer choices.
Underlying macroeconomic factors: The growth of the Soccer Media market is also influenced by macroeconomic factors such as technological advancements, consumer spending, and government policies. Countries with strong technological infrastructure and high disposable income are experiencing faster market growth compared to less developed regions. Additionally, government initiatives to promote the sports industry and increase media coverage of soccer are contributing to the growth of the market. The rising popularity of soccer globally and increasing viewership numbers are also driving the demand for quality and diverse media coverage, further fueling the growth of the Soccer Media market.
Data coverage:
The data encompasses B2B revenues. Figures are based on media spending from businesses to several clubs. That also includes the revenues from advertising as this is part of media and broadcasting contracts the individual clubs have with their respective leagues.Modeling approach / Market size:
Market sizes are determined through a top-down approach, 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.Lu - vi, 9:30 - 17:00 h (CET)
Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
Lu - vi, 9:30 - 17:00 h (GMT)
Lu - vi, 9:00am-6:00pm (EST)