09/12/2024 | Press release | Distributed by Public on 09/12/2024 06:06
SAN DIEGO - September 12, 2024 -Research from Bain & Company, being unveiled at today's L'ATTITUDE conference in San Diego, explores the new mainstream sports economy, where Latinos are increasingly at the core. Bain predicts Latinos-poised to comprise around 25% of the US population-will account for approximately $1 out of every incremental $3 spent on US sports by 2050. Yet Latino sports fans feel increasingly sidelined in sports representation.
"It is clear that sports leagues, teams, and sponsors are not yet tapping into the extraordinary economic power of the growing Latino fanbase in the US," said Stuart Campbell, a partner at Bain & Company and a leader within the firm's Sports practice. "Our research shows Latino fans continue to feel under-engaged and under-represented in sports despite their avid sports fandom. Winning organizations in the future sports economy will need to bridge cultural gaps, beyond just offering programming in Spanish, to provide personalized, inclusive experiences that resonate with Latinos."
Key findings of the research include:
Bain suggests a new playbook for winning with Latino fans-one that is focused on personalized offerings and experiences; delivering authentic and culturally relevant offerings year-round; tapping into mobile, streaming, and social media to meet fans where they're at; and improving inclusion on and off the field, from youth sports participation to Latino-centric leadership initiatives to representation in advertising.
"This research from Bain & Company is powerful as it puts hard data around a trend that's been palpable for years," said Sol Trujillo, co-founder of L'ATTITUDE. "Brands, media companies, and sports businesses would be wise to take note of the evolving sports landscape - shifting fan demographics, the explosion of women's sports, and new economic models are changing the game. Latino fans are loyal, ready to spend, and here to stay."
Editor's Note: For more information or to arrange an interview, please contact: Katie Ware, Bain & Company, tel. +1 646 562 8107, email: [email protected].
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