Organizers In The Spectator Sports Market Are Offering Mobile Ticketing To Facilitate A Hassle-Free Ticket Purchase Experience As Per The Business Research Company's Spectator Sports Global Market Report 2022
TBRC’s market research report covers spectator sports market size, spectator sports market forecasts, major spectator sports companies and their market share, key strategies to undertake, and more.
LONDON, June 01, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the spectator sports market, sports organizers and race organizers are implementing mobile ticketing to provide a hassle-free ticket purchase experience. Mobile ticketing is the process where customers can buy and validate tickets using their mobile phones. Event organizers' production and distribution costs associated with traditional paper-based ticketing channels are eliminated with the implementation of mobile ticketing. Apart from this, the data exchanged digitally through ticket transactions enables sports organizers to learn more about fans and generate insights to formulate marketing strategies. FC Barcelona, a Spanish professional football club, has implemented mobile ticketing and eliminated paper tickets by introducing a new system that allows fans to scan a bar-code on their phones to gain access to matches. Pocono Raceway has launched a mobile ticket delivery system that allows fans to have their tickets delivered to their mobile devices and have them scanned at the sports venue directly from their mobile devices.
For instance, between 2020 and 2023, the volume of mobile ticketing transactions will increase by 220% owing to increased contactless and in-app installations.*Request **for a sample of the global **spectator sports* *market report*
The global spectator sports market size is expected to grow from *$127.04 billion in 2021 to $181.47 billion in 2022* at a compound annual growth rate *(CAGR) of 42.8%.* The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The growth of spectator sports market is expected to reach *$272.0 billion in 2026* at a *CAGR of 10.6%.*
Sports organizers or team franchises are using analytics to boost their revenues. Analytics involves generating insights from historical data to predict potential trends and analyze the effects of certain decisions or events. Sports franchises are using analytics to determine the pricing of tickets through variable pricing and dynamic pricing methods. In the variable pricing approach, the team franchises use analytics and charge different prices for the same seat depending on the game. In the dynamic pricing approach, the team franchisers consider factors such as team performance, day of the week, and stages of the tournament (group match, semi-final, or final) to determine the ticket prices. For instance, the San Francisco Giants, a Major League Baseball team, have implemented the variable ticket pricing methodology for pricing their tickets. The St. Louis Rams, an NFL (National Football League) team, are using the dynamic pricing methodology to price 10% of their overall tickets.
Major companies in the spectator sports market include Liberty Media Corporation, Futbol Club Barcelona, Dallas Cowboys, Manchester City F.C., New York Yankees, Manchester United Football Club, Juventus, International Speedway Corporation, Los Angeles Dodgers, LLC and Real Madrid C.F.
The global spectator sports market overview is segmented by type into sports team and clubs, racing and individual sports; by revenue source into media rights, merchandising, tickets, sponsorship; by type of sport into soccer, cricket, rugby/football, tennis, others.
*North America* was the *largest region* in the global spectator sports market in 2021. *Africa *is expected to be the *fastest-growing region* in the spectator sports market during the forecast period. The regions covered in the spectator sports market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Spectator Sports Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide spectator sports market overviews, spectator sports market analyze and forecast market size and growth for the whole market, spectator sports market segments and geographies, spectator sports market trends, spectator sports market drivers, spectator sports market restraints, spectator sports market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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