The Impact of the EURO 2024 Finals Season on Social Earning and Cross-Border Payments to Vietnam

In the previous article by FinFan, we discussed the impacts of social earning on cross-border payments to Vietnam and learned about the influence of livestreaming on various aspects of life such as commerce, sports, reality TV, and concerts.

In this article, let's further clarify the impact of a sporting event that is arguably making waves across the globe, the EURO Finals, on social earning and cross-border payments to Vietnam.

Vietnam has a highly active social media population, with millions of users engaging on platforms such as Facebook, YouTube, TikTok, and Instagram. As of early 2024:

Facebook: Over 70 million active users

YouTube: Approximately 63 million active users

TikTok: Around 39 million active users

Instagram: Nearly 20 million active users

These platforms are crucial for content creators looking to leverage major events like the EURO 2024 Finals to boost their visibility and earnings.

Some Statistics on the Spread of Major Sporting Events like EURO to global in 2021

Overview

UEFA EURO 2020 (referred to as EURO 2021 due to postponement caused by the COVID-19 pandemic) attracted a massive global audience, with a total viewership of over 5.23 billion across television and digital platforms.

Compared to EURO 2016, the 2021 tournament saw a slight increase in viewership, partly due to the COVID-19 pandemic keeping many people at home and seeking entertainment.

The final match between Italy and England garnered 328 million views, becoming the most-watched television program ever in the United Kingdom.

Detailed Figures

By region:

Europe: 3.89 billion viewers

North America: 100 million viewers

South America: 90 million viewers

Africa: 60 million viewers

Asia: 180 million viewers

By platform:

Television: 4.1 billion viewers

Digital: 1.13 billion viewers

Most-watched matches:

Italy vs England final: 328 million viewers

Italy vs Spain semi-final: 296 million viewers

England vs Denmark semi-final: 278 million viewers

Content Engagement and Creation:

Increased Traffic: Major events like the EURO 2024 Finals typically see a spike in online traffic as users seek updates, highlights, and community discussions. This surge presents an opportunity for content creators to attract a larger audience.

Trending Content: Football-related content, including match analyses, player interviews, and fan reactions, is likely to trend during the tournament. Creators can capitalize on this by producing relevant and engaging content.

Advertising Revenue:

Higher CPM Rates: The increased viewership during the EURO 2024 Finals can lead to higher Cost Per Thousand Impressions (CPM) rates for ads on social media platforms. This means that content creators can earn more from advertisements displayed alongside their content.

Brand Collaborations: Brands looking to reach football fans may collaborate with influencers and content creators for sponsored content, leading to additional revenue streams.

Merchandising and E-commerce:

Product Promotions: Content creators can promote football-related merchandise, such as jerseys, accessories, and memorabilia, through their social media channels. Affiliate marketing and direct sales can significantly boost their earnings.

Live Streaming Sales: Platforms like TikTok and Instagram have integrated e-commerce features that allow creators to sell products during live streams. These tools can be utilized to capitalize on the heightened interest during the EURO 2024 Finals.

Fan Funding and Donations:

Crowdfunding: Platforms like Patreon and YouTube's Super Chat enable fans to financially support their favorite creators. The emotional highs and lows of the tournament can motivate fans to contribute more generously.

Engagement Rates: Monitoring the increase in likes, shares, comments, and overall engagement during the EURO 2024 Finals can provide insights into audience interest and content performance.

Follower Growth: Tracking the growth in followers on social media platforms can help measure the impact of the tournament on a creator's reach and influence.

Revenue Metrics: Analyzing changes in ad revenue, sponsorship deals, and e-commerce sales can offer a clear picture of the financial benefits of creating content around the EURO 2024 Finals.

Audience Demographics: Understanding the demographics of the audience engaging with football-related content can help creators tailor their strategies to maximize impact and earnings.

Cross-border payment service providers preparing for processing social earning payments throughout the EURO 2024 Finals should consider several key factors:

Increased Transaction Volumes:

Expect higher transaction volumes during the EURO 2024 Finals period due to increased digital engagement and social earning activities related to the event. Providers should ensure their systems can handle spikes in transaction volume without disruptions.

Fast and Reliable Payment Processing:

Given the time-sensitive nature of social earning payments, providers need robust systems capable of processing transactions quickly and reliably across different currencies and payment methods.

Currency Conversion and Exchange Rates:

Prepare for fluctuations in currency exchange rates during the tournament. Providers should offer competitive exchange rates and transparent fee structures to attract users making cross-border payments.

Enhanced Security Measures:

Strengthen security protocols to protect user data and financial transactions from potential cyber threats and fraud attempts, which may increase during high-profile events like EURO 2024.

Customer Support and Communication:

Provide clear communication channels and responsive customer support to address any issues or queries from users regarding their social earning payments. Multilingual support may be necessary to assist an international user base.

Compliance with Regulations:

Ensure compliance with local and international regulations governing cross-border payments and financial transactions. Stay updated on regulatory changes that may impact payment processing during the EURO 2024 period.

Partnerships and Integration:

Collaborate with social media platforms, content creators, and digital influencers to streamline payment integrations and enhance user experience for processing social earning payments seamlessly.

The EURO 2024 Finals present a significant opportunity for social earning in Vietnam. Content creators and influencers who strategically leverage this event can see substantial boosts in engagement, revenue, and audience growth.

By analyzing key metrics and adapting their content to meet the interests of football fans, Vietnamese digital entrepreneurs can capitalize on the excitement of the tournament, driving both short-term gains and long-term growth in their social media careers.

This article was curated and authored by FinFan's market research and development team, alongside our marketing department.

About FinFan

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FinFan is already integrated with almost the world's well-known MTOs, PSPs, switch, and core fintech platforms such as Money Gram, Thunes, Qiwi, Remitly, World Remit, Bancore, PaySend, Terrapay, Ria Money Transfer (Euronet), Dlocal, Ripple, TripleA, FoMo Pay, Wings, etc.

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