Sports And Arts Promoters Global Market Report 2024

The sports and arts promoters market size has grown strongly in recent years. It will grow from $231.49 billion in 2023 to $246.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed during the historical period can be attributed to factors such as the increasing interest in sports and the arts, the influence of sponsorship and advertising, advancements in digital media and online ticketing systems, the emergence of event tourism, and a heightened cultural awareness that has driven the demand for sports and arts promotion services.

The sports and arts promoters market size is expected to see strong growth in the next few years. It will grow to $314.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. Anticipated growth in the forecast period can be attributed to various factors, including the increasing emphasis on digital engagement, sustainability initiatives, the rise of hybrid and virtual events, a focus on inclusivity and diversity, and the drive for personalization and enhanced fan experiences. Major trends expected in the forecast period include the growing presence of esports and online streaming, the emergence of niche and micro events, the popularity of health and wellness events, cross-genre collaborations, and the utilization of fan engagement technologies to enhance the overall experience.

Sports organizers are incorporating virtual reality (VR) technology to enhance the spectator experience at sporting events. VR technology creates immersive environments with visual and auditory elements that simulate physical presence in a fictional world. Sports clubs and teams are exploring simulated and 360-degree environments to improve fans' match-watching experience by enabling them to virtually explore stadiums or racetracks and view games from multiple perspectives. For example, the NBA broadcasted a game between the Sacramento Kings and San Antonio Spurs in VR, allowing viewers to observe the action from various angles, including beneath the basket. NASCAR has also introduced interactive fan zones at racetracks using virtual reality technology.

The primary categories within the sports and arts promoter services sector include sports promoters and arts promoters. Arts promoters work to build and maintain connections that help promote artists and their creations, while sports promoters concentrate on generating publicity and marketing sports events, teams, and athletes. The end users of these services can be individuals or companies, and the revenue sources include income from media rights, merchandising, ticket sales, and sponsorship agreements.

The sports and arts promoters services market research report is one of a series of new reports that provides sports and arts promoters services market statistics, including sports and arts promoters services industry global market size, regional shares, competitors with a sports and arts promoters services market share, detailed sports and arts promoters services market segments, market trends and opportunities, and any further data you may need to thrive in the sports and arts promoters services industry. This sports and arts promoters services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing number of athletes is expected to drive the growth of the sports and arts promoters market in the future. Athletes are individuals who have received training or demonstrated proficiency in physical activities, competitive sports, or games requiring physical stamina, agility, or strength. Sports and arts promoters play a crucial role in assisting athletes and artists in developing their media skills and establishing relationships with journalists. For instance, as of December 2022, the National Collegiate Athletics Association (NCAA) reported a total of 520,000 student-athletes participating in NCAA championships, marking a notable increase of 30,000 student-athletes in the 2021-2022 season. This surge in the number of athletes contributes to the growth of the sports and arts promoters market.

Sports and arts organizers are adopting mobile ticketing solutions to offer a seamless and convenient ticket purchasing experience. Mobile ticketing allows customers to buy and validate tickets using their mobile phones, eliminating the production and distribution costs associated with traditional paper-based ticketing methods. Additionally, the digital data exchanged during ticket transactions provides sports organizers with valuable insights into their fans, enabling them to formulate effective marketing strategies based on the collected database. For example, Barcelona has implemented mobile ticketing, replacing paper tickets with a system that allows fans to scan a barcode on their mobile phones for access to matches. Pocono Raceway has introduced a mobile ticket delivery system, enabling fans to receive tickets on their mobile devices and have them scanned directly at the gate.

Prominent companies in the sports and arts promoters market are prioritizing the development of innovative technologies, including paid promotional tools, to deliver reliable services to their customers. Paid promotional tools are marketing or advertising resources that require businesses to make payments for their usage in promoting products, services, or brands to a targeted audience. For instance, in September 2023, Spotify, a Sweden-based digital music service, launched Showcase, a campaign tool designed for music marketing. Artists can utilize Showcase to create mobile cards introducing their music, featuring recent and back catalog releases, and these cards are presented as sponsored recommendations on listeners' mobile home screens. Spotify's home screen, the most frequently visited page and a source of billions of daily streams, provides the prime location for app-based advertising.

Major companies operating in the sports and arts promoters market include Live Nation Entertainment Inc., EXOR Group, Madison Square Garden Company, Lincoln Center, San Francisco Symphony, Townsquare Media Inc., GMM Grammy Public Company Limited, Tivoli A/S, Factory Theatre, Denver Center For The Performing Arts, Wasserman Media Group, AEG Live, Octagon, Independent Sports and Entertainment (ISE), Excel Sports Management, Athletes First, Roc Nation Sports, Goodwin Procter LLP, 516 Marketing Inc., 360 Media Inc., Red Light Management, Madison Square Garden Company, San Francisco Symphony, CAA Sports, Boras Corporation, Relativity Sports, International Creative Management (ICM) Partners, Artist Management Group (AMG), Sports Management Worldwide, National Football League, eBay, Another Planet, Frank Productions, Beaver Productions, C3 Presents, Gestifute, ICM Stellar Sports, Klutch Sports Group, Newport Sports Management Inc.

Asia-Pacific was the largest region in the sports and arts promoters’ market in 2023. Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the sports and arts promoters’ market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the sports and arts promoters market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The sports and arts promoters services market includes revenues earned by entities by providing services such as organizing, promoting, and managing live performing arts productions, sports events, and other events such as state fairs, county fairs, agricultural fairs, concerts, and festivals; and manage and provide the staff to operate arenas, stadiums, theaters, or other related facilities for rent to other promoters. Customers for sports and arts promoters include independent artists and performing arts companies. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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