Technavio has announced the top five leading vendors in their recent global fantasy sports market report. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
The global fantasy sports market is expected to post a CAGR of more than 11% during the forecast period. North America had the highest market share in 2015, followed by Europe and APAC. The increasing adoption of smartphones and tablets globally and especially in the developing economies of Brazil, China, and India, has helped the market for fantasy sports grow significantly.
Competitive vendor landscape
The global fantasy sports market is characterized by the presence of well diversified vendors. The market competition will intensify further through an increase in product and service extensions, technological innovations, and M&A. International players have increased their presence in the market and will grow by acquiring regional or local players.
“In addition, improving economic conditions are boosting market growth, making it a conducive environment for launching new products. The adoption rate of fantasy sports among end-users is high. Many new vendors that provide DFS games have entered the market because of the expansion of the end-user base,” says Mantri Charan Kumar, lead analyst from Technavio.
The global fantasy sports market also includes companies that develop software and online platforms for multiplayer fantasy sports. The number of such companies is increasing because of the rising popularity of fantasy sports, growing number of broadband services, and increased use of mobile devices. These companies need to have strong web software development expertise and other IT skills to develop new offerings and remain competitive.
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Technavio research analysts have identified the following key vendors:
CBS is a mass media company that creates and distributes content across various platforms around the world. The company's media and entertainment operations include broadcast TV, local TV, radio, advertising on out-of-home media, TV production and syndication, publishing, interactive media, cable TV, music, licensing and merchandising, video/DVD, motion pictures, and in-store media. The company operates through five segments: Entertainment, Local Broadcasting, Cable Network, Outdoor, and Parks/Publishing.
DraftKings is a leading daily fantasy sports (DFS) provider that offers a variety of free and paid contests on multiple game platforms. The company develops premium skill games and platforms that enable the users to play fantasy games and win cash prizes. DraftKings, through strategic partnerships with companies such as Forbes, TechCrunch, The Boston Globe, and The Wall Street Journal, focuses on expanding its business operations in emerging markets.
ESPN is a multimedia sports entertainment company that provides television sports networks such as ESPN, ESPN2, and ESPNU. The company operates as a subsidiary of ABC. It holds rights to professional and college sports programs such as NFL, NBA, MLB etc. ESPN focuses on launching new channels and programs. In addition, through strategic initiatives, the company focuses on expanding its business operations in emerging markets.
FanDuel is a fantasy sports premium game provider, which operates as a subsidiary of Hubdub. The company's online sports platform enables users to play fantasy football, baseball, hockey, and basketball. It hosts an average of 600,000 line-up entries per week. FanDuel, through strategic agreements, focuses on expanding its business operations in new regions. The company partners with NBA to promote official one-day fantasy basketball games.
Yahoo is one of the leading providers of communication products, digital media products, and instant messaging services. Some of the services provided by the company are Yahoo News, Yahoo Sports, Yahoo Finance, and Yahoo Answers. The company was acquired by Verizon Communications in July 2016.
Yahoo Sports has one of the largest audiences of digital sports enthusiasts in the world. It provides editorial reporting, fantasy sports, coverage of the biggest global sports events, real-time scores, statistics and breaking news, and premium college sports. The fantasy sports segment of Yahoo Sports increased its mobile offerings to include push notifications and a unified app for all games. This helped it in maintaining its status as the official fantasy game website for the NBA, NHL, and MLB.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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