Tennis: An Industry with a Global Appealing Opportunity
Tennis has transitioned from a niche sport to a global phenomenon, captivating audiences worldwide. The growth of multicultural stars like Coco Gauff and Carlos Alcaraz has played a pivotal role in this transformation. However, the sport’s potential for further expansion, monetization, and appeal to multicultural consumers remains significant.
A Growing Global Market
According to the International Tennis Federation (ITF), the number of tennis players globally has surpassed 90 million. This surge can be attributed to increased accessibility, improved infrastructure, the digital age, and the popularity of televised tournaments. The growing popularity of tennis, especially in emerging markets, presents a lucrative opportunity for brands.
Opportunities for Business and Marketing
How can brands leverage Tennis popularity and multicultural appeal?
Data confirms the opportunity within the Multicultural audience
The growth within the multicultural demographic has been dramatic amongst the Hispanic/Latino population, which has seen a 90 percent increase over the last three years. Black/African-American participation has increased by 46 percent over the last three years, and Asian/Pacific Islander participation has increased by 37 percent over the last three years.
Overall, the number of people playing tennis (23.6 million) is more than the combined number of people playing racquet sports like pickleball (8.9 million), badminton (6.5 million), racquetball (3.5 million), and squash (1.2 million).
Tennis presents a compelling business opportunity with a growing global market. By understanding key trends and leveraging digital innovation, businesses can capitalize on the sport’s popularity and create sustainable revenue streams.
Credits: USTA, US Open
