The growth in streaming service providers and digitalizing economies is boosting the fantasy sports industry.
Arizton’s recent research report on the fantasy sports market identifies CBS Corp., DraftKings, ESPN, FanDuel, and Yahoo as the leading vendors in the market. The research report provides a comprehensive industry study, trend forecasts, and competitive analysis. It segments the market by products (football, soccer, basketball, baseball, hockey, golf, cricket, and other fantasy sports), end-users (male and female), and geography (North America, APAC, Europe, Latin America, and MEA).
The global fantasy sports industry is anticipated to reach revenues of around $1.5 billion, growing at a CAGR of 11% during 2018−2014.
The leading three drivers and trends driving the fantasy sports industry are discussed below:
Capitalizing upon over-the-top (OTT) platforms
The growth in streaming service providers and digitalizing economies is boosting the fantasy sports industry. OTT platforms are streaming service providers that distribute the sport or other entertainment content by passing the traditional providers such as cable TV and provide unique flexibility to view the content from anywhere and at any time at reduced prices. With the growth in streaming service providers and digitalizing economies, fantasy sports industry vendors are receiving an incredible boost. With an opportunity to create a pre-event hype and engage with fantasy sports players that tend to log-in several times for viewing the latest updates, OTT platforms can create significant revenue-generating sources. Amazon Prime, Netflix, and Hulu are the leading OTT platforms.
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Increasing Spend on Aggressive Advertising and Marketing Spending
The increased spend on advertising and marketing has played a vital role in augmenting the growth of the fantasy sports industry. The spending on advertisement helps to increase revenue via higher customer traffic experienced during peak sports seasons. For instance, the NFL’s opening weekend during September 6−10 2018, witnessed more than $278 million on advertising spending. The expansion across digital platforms provides a further boost to the fantasy sports industry vendors for scaling up their revenues via advertisements. Further, millennials are the prime target audience for advertising. Hence, the advertisement spending tends to have a cascading effect on the minds of viewers. Further, with the penetration of technology, vendors are including the user’s behavior, spending patterns and other similar reasons into consideration while devising future marketing plans.
Ballr, BalleBaazi, Boom Fantasy, Binoba11, Daily Fantasy Cricket, Draftstars, DraftTeam Fantasy Sports, Dream11, Eksab, Fanamana, FanFight, FanMojo, Fantain, FantasyDraft, Fantrax, HalaPlay, Jiyo11, My11Circle, MoneyBall, MyTeam11, PlayON, Sportito, StarsDraft, StarPick, Swoopt Fantasy Sports, and 11Wickets are few notable players in fantasy sports industry.
The complete overview of the latest market research report on the fantasy sports industry by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
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