Attention economy in professional football: A study protocol on the individual perspective of social media marketability of European football player

Abstract

In the digital age, the attention economy assumes that attention flows along the same channels as money. Attention is a scarce commodity, so competing for it should follow a similar mechanism to the general acquisition of income and can therefore be seen as a social currency (Franck, 1998). Nowhere is this more evident than in the realm of professional sports, where athletes have become both performers and brands (Nufer, 2018), competing not only on the field but also in the arena of attention. For the players themselves but also for the clubs, the market value of a football player is no longer solely determined by their athletic prowess but is equally influenced by their ability to capture and maintain the attention of fans or sponsors (Leo & Kuczkowski, 2020). Seeing players as entrepreneurs, we assume that reputation is a fluid and dynamic asset (Gerbaulet, 2016), wherein the player’s ability to manage and cultivate their public image becomes paramount. Football players aim to maximize their lifetime income, which includes both their performance on the pitch and their marketability off it. Marketability can extend beyond their playing career and may follow a life-cycle concept (Vernon, 1966). Therefore, players are motivated to use social media to boost their reputation and lifetime market value.

To investigate this phenomenon, we analyse data from the big five European football leagues (Bundesliga, Premier League, Ligue 1, La Liga, and Serie A) focusing on the 2022/2023 season. This season was chosen to ensure a closed information set, as the 2023/2024 season was ongoing during the initial data collection period, and player market values are typically updated multiple times throughout a season. Our study examines the correlation between social media activity and player market value by employing a regression model to quantify the influence of social media metrics, while controlling for other relevant variables. Player market values are sourced from the widely recognized platform Transfermarkt (https://www.transfermarkt.de). Social media activity is quantified through metrics such as the number of followers, the volume of posts, likes, and engagement rate, with data obtained from Fanpage Karma (https://www.fanpagekarma.com/). To account for players’ footballing abilities, we include performance data such as playing time, shots, and packing index sourced from The Analyst (https://theanalyst.com/eu). Additional control variables, including player age, position, league, and club affiliation, are also sourced from Transfermarkt and incorporated into the regression model.

The dataset comprises 2,284 players, of whom 80% (1,805 players) have Instagram accounts. Instagram usage is highest among Premier League players (92%) and lowest among those in Ligue 1 (65%). The results of the regression analysis will be presented and discussed, providing insights into the relationship between social media presence and market value. This analysis will contribute to understanding the patterns of attention generation in relation to marketability and the rationality behind social media use in professional football.

References

Gerbaulet, D. (2016). Der Unternehmer als Reputator [The entrepreneur as reputator]. Mohr Siebeck.

Franck, G. (1998). Ökonomie der Aufmerksamkeit. Ein Entwurf [The economy of attention. A draft]. Carl Hanser.

Leo, M., & von Kuczkowski, A. (2020). „Kaufen Sie Ronaldo!“ Wie Facebook, Instagram & Google den Profifußball verändern [„Buy Ronaldo!“ How Facebook, Instagram & Google are changing professional football]. Die Werkstatt.

Nufer, G. (2018, 30 January). Viel mehr als nur Sportler. Warum Ronaldo und Neymar mehr zu Marken im Fußball taugen als Götze [Much more than just athletes. Why Ronaldo and Neymar are more suitable as football brands than Götze]. Focus Online. https://www.focus.de/sport/experten/nufer/f-f_id_8386959.html

Vernon, R. (1966). International investment and international trade in the product cycle. The Quarterly Journal of Economics, 80(2), 190–207. https://doi.org/10.2307/1880689