Follow me ... on the relationship between social media activities and market values in the German Bundesliga

Transfermarkt.de's market value (transfermarkt value) is a topic that is discussed very often in sports economics. Based on existing literature, we assume that the Transfermarkt value is a function of different input parameters, such as player characteristics, player performance, player presentation and team performance. This paper analyzes the relationship between a player's social media activity and his market value based on transfermarkt.de. Based on a dataset of 600 players from the German Bundesliga, we find that Instagram activity has a significant impact on a player's market value. On the basis of this result, we discuss several implications for professional football players on the one hand and for clubs on the other. The paper opens up a new dimension of economic research in professional football, namely, the sport economic significance of social media.