Engaging younger sports fans: How today’s trends can inform tomorrow’s investments

  • Survey
  • 9 minute read
  • July 29, 2024

As the 2024 Summer Olympics open in Paris this summer, the sports industry faces a pivotal moment. A PwC survey reveals that younger audiences, ages 18-34, engage differently: Attention spans grow ever shorter, while demand for unique experiences rises. As engagement patterns among Gen Z and younger millennials continue to shift significantly — due to technology, social dynamics and evolving preferences — sports executives and investors should take heed.

“The opportunity to grow sports over the next decade is going to come down to how the industry serves these fans. With so much money being invested, we wanted to know what the fans found most engaging.”

Mike Keenan -Sports Practice Leader, PwC US

PwC surveyed about 2,000 sports fans to better understand what drives younger fans and how they’re different from fans over 35. Fans responded to 50 questions about live experiences, at-home consumption, sport preferences and how they interact with sports. We performed a competitive analysis of the data between different generations of sports fans and then extracted insights into opportunities for growth, areas that are likely to remain flat and potential risks.

Overall, the findings suggest that younger fans’ shrinking attention spans may mark them as fundamentally different from earlier generations. Only 19% of younger fans say they watch an entire game when they tune in at home — and when they do, they’re almost always doing something else at the same time. More than two-thirds said they use social media during an event, 47% surf the web and 24% play video games while watching sports. Only 1% say they do nothing but watch.

At the same time, young fans are seeking unique experiences, which was the most frequently cited important characteristic for this demographic when attending a live sporting event — and they do attend live events. We found that younger sports fans are 1.4 times more likely than older fans to attend a live sports event at least once a month. They’re also relatively price insensitive, reporting on average to have spent $70 more on tickets than older counterparts.

Younger sports fans are contributing to reshaping the field. Executives and investors would be wise to recognize these trends now to help win the market.

In North America, sports-licensed merchandise is a $28 billion market, while sports and entertainment trading cards and memorabilia is a $13 billion market.

Source:PwC research

Growth opportunities

Holding steady

Potentially risky

Implications for sports executives and investors

  • Consider the strong investment opportunities volleyball, combat sports, soccer and basketball may present. Their growing popularity among younger fans suggests potential for long-term growth and increased engagement.
  • Focus on enhancing fan experiences by shortening games and creating high-stakes, relevant matches. Invest in unique, memorable social experiences to cater to younger fans.
  • Invest in integrating social media and mobile betting into the sports experience. Carefully monitor developments in AR and VR to determine how it can be used to innovate and enhance engagement, with the awareness that it has not yet seen mass adoption, even among younger fans.
  • Evaluate whether high-cost experiences can offer significant value and tailor pricing models to reflect the willingness of younger fans to spend more on meaningful experiences.
  • Be cautious when considering investments in sport-specific streaming services and sports that may be declining in popularity among younger audiences. Be critical in assessing their potential. Be prepared to develop strategic pivots.

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