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 shopping experience hassle-free tickets. Mobile ticketing is the process by which customers can purchase and validate tickets using their mobile phone. Event organizer production and distribution costs associated with traditional paper ticketing channels are eliminated with the implementation of mobile ticketing. Apart from this, data exchanged digitally through ticket transactions allows sports organizers to know 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 barcode on their phone to access 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 example, between 2020 and 2023, the volume of mobile ticketing transactions will increase by 220% thanks to the increase in contactless and in-app installations.

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The size of the global spectator sports market 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 market growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, remote working and closure of business activities which resulted in operational challenges. The growth of the spectator sports market is expected to reach $272.0 billion in 2026 at 10.6% CAGR.

Sports organizers or team franchises use analytics to increase revenue. Analytics involves generating information from historical data to predict potential trends and analyze the effects of certain decisions or events. Sports franchises use analytics to determine ticket prices through variable pricing and dynamic pricing methods. In the variable pricing approach, team franchises use analytics and charge different prices for the same seat depending on the game. In the dynamic pricing approach, team franchisors consider factors such as team performance, day of the week and tournament stages (group match, semi-final or final) to determine ticket prices. For example, the San Francisco Giants, a Major League Baseball team, implemented the variable ticket pricing methodology for pricing their tickets. The St. Louis Rams, an NFL (National Football League) team, uses the dynamic pricing methodology to price 10% of all of their tickets.

Major companies in the spectator sports market include Liberty Media Corporation, Futbol Club Barcelona, ​​Dallas Cowboys, Manchester City FC, New York Yankees, Manchester United Football Club, Juventus, International Speedway Corporation, Los Angeles Dodgers, LLC and Real Madrid CF.

The global spectator sports market overview is segmented by Type into sports teams and clubs, racing and individual sports; by source of revenue in media rights, merchandising, tickets, sponsorship; by type of sport in football, cricket, rugby/soccer, tennis, etc.

North America was the greater region in the global spectator sports market in 2021. Africa should be the fastest growing region in the spectator sports market over the forecast period. Regions covered in Spectator Sports Market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Global Spectator Sports Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provide insights into the spectator sports market, analyze the Spectator Sports Market and Forecast Market Size and Growth for Overall Market, Spectator Sports Market Segments & Geographies, Spectator Sports Market Trends, Spectator Sports Market Drivers, Market Restraints of spectator sports, revenue, profiles and market shares of the main spectator sports market competitors in more than 1000 industry reports, covering more than 2500 market segments and 60 geographies.

The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.

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