Fantasy sports participation has risen with the spread of broadband and mobile connections.
New York, NY (PRWEB) August 22, 2014
The Fantasy Sports Services industry is expanding quickly, with revenue anticipated to grow an in the five years to 2014. This growth has been underpinned by rising interest in fantasy sports, growth in the number of broadband and mobile connections, rising advertising expenditure and an increase in sports participation and viewership. The industry is forecast to grow a further during 2014, led in particular by greater mobile internet use and increased fantasy sports participation.
According to IBISWorld Industry Analyst Jeremy Edwards, “advertising and sponsorships on fantasy sports websites are one of the largest drivers of industry revenue.” Internet ad spending has risen steadily over the past 15 years as internet use increased, which has allowed Fantasy Sports Services industry revenue to convert rising website traffic into growing revenue. Industry growth has also been underpinned by increasing sports viewership and participation in sports. Fantasy sports add a new dimension to the sports fan and viewing experiences, since they encourage fantasy sports participants to follow players or games they otherwise would not. The number of fantasy sports participants has also risen in lockstep with the availability and proliferation of broadband and mobile connections. The increase in mobile internet connections and applications designed for mobile fantasy sports management has enabled users to stay on top of their fantasy sports without being tied to their computers.
The industry will continue to grow aggressively during the next five years, with industry revenue rising in the five years to 2019. This growth, albeit slower, will be partially due to expansion among new types of fantasy sports leagues. “Given the popularity of auto racing among TV viewers, it is poised for strong growth over the next five years,” says Edwards. Golf and soccer are also on the brink of expansion due to their rising popularity. Female demographics also represent a growing market for industry participants, and operators with the ability to increase their share of these players will hold a competitive advantage in securing new advertising revenue sources.
For more information, visit IBISWorld’s Fantasy Sports Services in the US industry report page.
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IBISWorld industry Report Key Topics
The Fantasy Sports Services industry develops software and markets an online platform for multiplayer fantasy sports. Fantasy sports are games where participants act as general managers to build teams that compete against other fantasy owners based on the statistics generated by real individual players or professional teams. The most common variation converts statistical performance into points that are compiled and totaled according to a roster selected by a manager that makes up a fantasy team.
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