The number of fantasy sports fans has grown so much in recent years. And it all revolves around online playing, merchandise, brand marketing, and sponsorships. After all, this is a multi-million dollar industry. Moreover, according to analysis, this market is growing at a pretty fast pace – and by 2022, the global fantasy sports market could grow at a CAGR of nearly 12%.
Partnerships and Collaborations
Now that the industry finally managed to become more popular, partnerships became the main asset of DFS. Besides, strategic collaborations with stakeholders are also something quite common for this type of entertainment. For example, brands such as Fanduel have various collaborations in Game Credits. They present free World Cup tournaments. Thus, with all that has been cooking in the industry, many expect to see tons of other partnerships and collaborations similar to this in 2021 and 2022.
All of this will affect the growth of the DFS industry in the forthcoming years. However, other factors such as marketing and advertising will also help. This is why the lift of the ban on fantasy sports ads by Google in the US was incredibly beneficial. It will help boost the advertising campaigns of Daily Fantasy Sports betting in certain states. The expansion of the marketing and ads campaigns made the industry even more popular and helped lure in tons of new users.
A Surge in the Number of Users
By new users, we mainly mean Millennials – as increased interest of millennials in DFS has been recorded. After all, the people pertaining to the demographic cohort, also called Generation Y, were born in the age of the Internet. In addition, while digitalization and high-tech can be a problematic area for Gen X or Baby Boomers, it is a “natural habitat” for a millennial. This is why more and more millennials find fantasy sports interesting in 2021.
Another thing that affected the development of DFS in 2021 is the increased number of sports events organized worldwide. Here are some of them:
- US PGA
- FA Cup Final
- IIHF World Championship
- Euro 2021 Football Tournament
- NBA Finals
- Tokyo Summer Olympics
When it comes to the newly acquired audience, the number of people who actually become players has increased. In other words, people are more interested in participating than simply watching. They want to test and show others their gaming skills – and eventually get a reward for their skillfulness. Overall, this participation urge brings greater engagement to DFS.
Among all the other things, technological advancements led to an enhanced number of users in DFS. Some of these advancements are modern DFS platforms, top-notch features such as loyalty programs, and more. This also includes the smartphone revolution as well as the higher internet penetration. What’s more, the people’s engagement also depends highly on the selection of reliable streaming partners.
The Competition and the Innovations
Furthermore, the 2021 DFS market is filled with top-rated brands – so the competition is tough. Besides, the presence of a range of competitors in the industry made succeeding difficult. In addition, this is not a completely bad thing as it makes the brands keep working for more, incorporating innovative features and creating new trends.
A couple of new DFS platform developing companies emerged in recent years, and more are coming to market in 2021. In addition, the popular OTT platforms should be a part of fantasy sports. Moreover, combining OTT with fantasy sports is a groundbreaking discovery for the industry.
As far as the DFS industry is concerned, the rising number of tech-savvy clients and business people interested in the industry resulted in a significant growth spike in North America. One of the biggest influences on this was definitely the change of gambling laws in the US. Furthermore, the legalization of DFS betting in multiple states will boost further growth in the future.
Moreover, the market value of DFS in the US will probably grow, too. The main reasons behind this are gambling regulations, tech advancements, and partnerships. Daily fantasy sports markets in Europe and India, Japan, Indonesia, South Korea, and China notice a spike in the demands for 2021. This huge entertainment industry is on the rise. 2021 will be a great year for daily fantasy sports, and the following years will probably bring even better results.
This article is auto-generated by Algorithm Source: twitgoo.com