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Racing & Individual Sports in the US - Industry Market Research Report

Racing & Individual Sports in the US - Industry Market Research Report

  • August 2020
  • 46 pages
  • ID: 237707
  • Format: PDF
  • Ibisworld

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First place: An increasing advertising expenditure will likely support industry revenue growth

Abstract

Racing & Individual Sports in the US
The Racing and Individual Sports industry has given supporters plenty to cheer about over the five years to 2019. The amount of total leisure time was squeezed at the start of the five-year period, causing both attendance and broadcasting revenue to suffer. This trend particularly hurt less popular sports, which struggled to compete for attention. Nevertheless, the industry has steadily repositioned itself in response to rising per capita disposable income and consumer confidence. Industry growth can be attributed not only to growing levels of consumer spending, but also to the industry’s recent efforts to expand its event coverage. NASCAR, boxing, horse racing and mixed martial arts have all increased in popularity over the past five years as a result of the industry’s expanding social media presence and willingness to broadcast events through online streaming content. Over the five years to 2024, these trends are expected to continue, leading total industry revenue to increase.

This industry consists of professional and semiprofessional athletes who participate in live sporting events before a paying audience. Individual athletes, automobile racing teams, racetrack operators, referees and officiating crew, athletic trainers and owners of various automobile, equestrian and greyhound racing teams are included in the industry. Owners and sporting clubs may or may not operate their own stadiums to present their sporting events.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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