Global ticket market overview
The availability of movies from different geographies, languages, and genre coupled with the rise in disposable income are major factors that prompt people to go to movie theaters. With more consumers willing to spend on entertainment, the investments for setting up new digital movie theaters that provide an exceptional movie experience have increased. Such an increase in the number of theater screens will directly contribute to the growth of the global ticket market in the coming years. One of the major factors contributing to the growth of the global ticket market is the increase in the number of digital movie screens across the globe. Technavio’s market research analyst forecast the global ticket market to grow at a CAGR of more than 6% during the forecast period.
Geographically, APAC is anticipated to be the highest revenue generating region in the global ticket market. Factors such as the growing box office market and the rising number of concerts and live events are likely to contribute to the market revenue in the region. Also, with the surging interest of people in movies in several APAC nations, such as China and India, the ticket market will witness high growth over the forecast period.
Competitive landscape and key vendors
The global ticket market is extremely competitive and characterized by the presence of several large and small established vendors. Ticketmaster Entertainment and TickPick are some of the leading vendors in the market. The competition is expected to become more intense among vendors during the forecast period, thanks to the growing focus on technological innovations and creativity. To gain a competitive edge, vendors are contending to deliver many ticketing options for customers. They are coming up with novel ideas and technologies and are keeping themselves updated with the emerging technologies, licensing procedures, and policies that could influence service lines.
Some of the leading vendors in the market are -
- Cinemark
- Razorgator
- StubHub
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Segmentation by event type and analysis of the ticket market
- Sporting event
- Concerts
- Movies
- Theater
In 2016, the sporting event segment accounted for the largest revenue share of the market. The growth of the segment can be attributed to the rise in the number of sports viewers and the growth of the sports betting market. Sporting events like Olympic Games, Cricket World Cup, FIFA World Cup, NFL Super Bowl, and UEFA Champions League are major factors that contribute to the growth of the segment. Moreover, factors like improved infrastructure and technological advances in live events such as live screens and wireless connectivity attract more viewers to attend such events.
Segmentation by platform and analysis of the ticket market
- Online
- Offline
In 2016, the offline ticket platform occupied the maximum share of the market. However, with the growth in Internet connectivity worldwide, the share of the online platform will witness high growth in revenue during the forecast period. Online booking allows customers to easily book tickets from any place and pick their preferred seats, besides offering customers a hassle-free payment experience. It also has special festival discounts, offers on credit, debit, or wallet payments, and promo codes. Several ticket providers also have combo offers, where snacks are offered at a lower cost if they are purchased along with tickets.
Key questions answered in the report include
- What will the global ticket market size and the growth rate be in 2021?
- What are the key factors driving the global ticket market?
- What are the key market trends impacting the growth of the global ticket market?
- What are the challenges to market growth?
- Who are the key vendors in the global ticket market?
- What are the market opportunities and threats faced by the vendors in the global ticket market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global ticket market?
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