Sports Media Market Size, Share, Industry Analysis, Trends, Growth, 2032

Sports Media Industry Prospective:

The global sports media market size was worth around USD 398.2 million in 2023 and is predicted to grow to around USD 1,158.50 million by 2032 with a compound annual growth rate (CAGR) of roughly 12.60% between 2024 and 2032.

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Sports Media Market: Overview

Sports media is a form of journalism that deals specifically with broadcasting or dispersing news related to several facets of the sports industry including events and personalities. Additionally, under the broader forms of sports media, some agencies also conduct investigative sports journalism requiring years of research and analysis of sports events in the past and the scope of growth in the future. Until a few years ago, the most popular medium for sports media was the print method. However, the digital transformation of the sports and entertainment industry has revolutionized how sports news is covered and consumed by the audience.

Several new formats including audio and video have emerged in the last decade. A large part of sports media is still covered under a written format that includes sports magazines or newspapers with specific pages dedicated to events occurring in the sports sector. Sports media is not only a source of information for sports enthusiasts but responsible sports journalism has proven highly effective in making socio-political changes to the industry. Reports detailing controversial aspects of the sports industry have led to significant changes in several game formats across the world. During the forecast period, the sports media industry is expected to be further pushed due to the introduction of Artificial Intelligence (AI) and Machine Learning (ML) in the sector.

Key Insights:

• As per the analysis shared by our research analyst, the global sports media market is estimated to grow annually at a CAGR of around 12.60% over the forecast period (2024-2032)
• In terms of revenue, the global sports media market size was valued at around USD 398.2 million in 2023 and is projected to reach USD 1,158.50 million by 2032.
• The market is projected to grow at a significant rate due to the rising investments in the sports industry globally
• Based on format segmentation, the audio & video segment was predicted to show maximum market share in the year 2023
• Based on type segmentation, the live coverage segment was the leading segment in 2023
• On the basis of region, North America was the leading revenue generator in 2023 and is expected to dominate the global market during the forecast period.

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Sports Media Market: Growth Drivers

Rising investments in the sports industry globally will drive the market growth rate

The global sports media market is expected to witness a high growth rate due to a significant increase in sports investments across the globe. It is one of the most lucrative industries globally as more viewers tune in to watch different sports events worldwide. While each country may have fan favorites in terms of sports events, the diversification, and introduction of new sports formats globally is an indication of the amount of revenue the sports industry generates. As per official research, in 2022-2023, the top 20 Money League football clubs in the UK generated a total revenue of over €10 billion.

Apart from generating revenue, the sports industry employs millions of people across the globe. The industry is a crucial regional economy driver. As per the European Commission, the sports sector employed 150,000 more people in 2022 as compared to 2021. Such statistics have encouraged other countries with limited presence in the global sports industry to invest more in promoting the sector. A prime example is the rising interest of the Eastern countries in aligning themselves with sports-dominated countries such as the European nations. In January 2024, it was reported that Saudi Arabia had invested around USD 1 billion in the Professional Golf Association (PGA) Tour.

Additionally, the region has already shelled out a large amount of money to attract global football stars to play for Saudi-based football teams. Apart from the investments, there has been a steady rise in the types of gaming events held on a global scale. For instance, the Cricket premier league hosted by several countries has allowed entry of private companies into the broader Cricket game. In December 2023, the Board of Control for Cricket in India (BCCI) announced that 2024 may witness the commencement of the T10 format of the cricket league. This format will include only 10 overs and is an extended version of the already popular T20 form. As the sports industry continues to diversify, there will be a sharp rise in the global sports media market.

Sports Media Market: Restraints

Industry is at risk of oversaturation as more players continue to enter

The global sports media industry runs the risk of over-saturation. Earlier there were only limited players that were associated with sports media. More viewers tune in to read or watch these channels. However, the digital transformation of the sports media sector has caused a sharp rise in the number of companies and individuals offering sports reporting or analysis services.

Additionally, social media platforms such as YouTube and other video streaming channels have made it easy for new entrants to reach viewers. However, in the absence of appropriate regulatory policies responsible for checking the quality of sports journalism, the industry has become vulnerable to extreme market fragmentation.

Sports Media Market: Opportunities

Introduction of AI, ML, and data analytics in the sports sector will generate high-growth opportunities

The global sports media market will generate high growth opportunities as the industry focuses on integrating emerging and advanced technologies such as Artificial Intelligence, Data Analytics, and Machine Learning in sports reviews, analysis, and forecasts. In August 2023, Infosys, a leading technology firm based in India, a tennis star Rafael Nadal’s coaching team announced a collaboration. The companies are working on developing a match analysis tool powered by AI. The tool is being specially developed to provide Nadal’s coaching team with real-time analysis of the player’s live matches. The AI-powered application will also have access to historical match-related information for better output.

In March 2024, Deepmind, owned by technology giant Google, announced that the tool will be used by Liverpool, a Europe-based football club, to gain insights on better ways to score corner kicks. The tool is called TacticAI which leverages generative and predictive AI techniques for improved decision making. The Artificial Intelligence sector has the potential to completely disrupt the sports sector thus providing more opportunities to the sports media houses for reporting new incidents.

Rising access of the Internet and smart technologies will create more demand for sports broadcasting and analysis

The global industry for sports media is projected to benefit from the rising access to affordable Internet along with the growing sale of smart consumer electronics such as mobile phones and tablets. These modern tools bring viewers and broadcasters closer.

Moreover, the Internet is responsible for generating mass viewer awareness about the different options available in the industry thus letting viewers choose from a range of sports media platforms. This reduced barrier is caused by language, sports preference, and other variable factors that may change from one region to another.

Sports Media Market: Challenges

Maintaining rights acquisition over longer periods is a key challenge faced by industry players

The global sports media market players face challenges due to the high costs involved in acquiring the rights to broadcast live events and repeat telecasts. Rights are sold to a specific platform for a limited time and upon renewal, the cost may increase leading to the media house losing rights to a competing firm. These changes affect the overall viewership of the platform thus making them lose customers.

Sports Media Market: Segmentation

The global sports media market is segmented based on format, scale, type, and region.

Based on format, the global market is divided into audio, video, audio & video, and others. In 2023, the highest demand was witnessed in the audio & video segment. Viewers prefer to watch sports events live with ongoing commentary. Additionally, sports analysis conducted on video platforms has become immensely popular on a global scale. The 2022, Federation Internationale de Football Association (FIFA) World Cup was watched by over 1.5 billion people as per official reports.

Based on scale, the global sports media industry is categorized into domestic channels and international channels.

Based on type, the global market is segmented into sports photojournalism, live coverage, investigative reports, and special programs. In 2023, the live coverage segment generated the highest revenue. Live coverage is the most viewed and in-demand form of sports broadcasting. For instance, Asia alone contributes to 2.5 billion views for a typical cricket live match. The Indian Premier League (IPL) is watched by 100 million people every day on average.

Sports Media Market: Report Scope

Sports Media Market: Regional Analysis

North America to generate the highest revenue during the forecast period

The global sports media market will be dominated by North America with the US acting as the highest revenue-generator. The country is home to the leading media houses with a global presence. For instance, Entertainment and Sports Programming Network was founded in Connecticut in 1979 and for the last 4 decades, the media giant has continued to dominate the global platform of sports broadcasting and covering sports-related news. In 2022, the company’s total revenue was over USD 15 billion as per reports. Another key regional player is NBC Sports covering almost the majority of the special sports events including soccer, basketball matches, and premiere leagues.

The sports media companies in the US have been at the forefront because of their innovative strategies to continue staying in trend by incorporating the latest needs and wants of the customers. This includes partnering with sports personalities for writing columns or bringing on board credible individuals for sports analysis.

Asia-Pacific is one of the fastest-growing regions. Asian nations are home to avid sports enthusiasts. Additionally, regional countries are keen on promoting domestically-popular games on the international platform. In October 2023, Star India struck a deal to broadcast Pro Kabaddi League for the next 5 years. The company spent INR 900 crore on the deal.

Sports Media Market: Competitive Analysis

The global sports media market is led by players like:

• NBC Sports
• ESPN
• BBC Sport
• Sports Illustrated
• Fox Sports
• Sky Sports
• Turner Sports
• CBS Sports
• The Athletic
• ESPN+
• Yahoo Sports
• Bleacher Report
• Eurosport
• Barstool Sports
• DAZN.

The global sports media market is segmented as follows:

By Format

• Audio
• Video
• Audio & Video
• Print
• Others

By Scale

• Domestic Channels
• International Channels

By Type

• Sports Photojournalism
• Live Coverage
• Investigative Reports
• Special Programs

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa