The global market for tickets is witnessing healthy growth chiefly owing to the vast rise in the number of digital movie screen globally, states a recent report added to the vast research report portfolio of MarketResearchReports.biz. The report, titled “Global Ticket Market 2017-2021,” states that the market will exhibit a more than 6% CAGR over the period between 2017 and 2021.
The rising number of consumers ready to spend high sums on entertainment has prompted investors to set up an increasing number of movie theaters with an exceptional and digitally enhanced movie experience. This rise in the number of movie theaters will directly translate into the increased number of tickets being sold across the globe. An upcoming trend in this scenario is the increasing sales of mobile tickets.
On the basis of event type, the global ticket market has been segmented in the report into concerts, movies, theater, and sporting events. Of these, the segment of sporting even accounted for the leading share in the revenue of the global market in 2016. The immense growth of this segment can be attributed to the significant rise in the number of sports viewers and the expanding market for sports betting.
The continuously rising audience for sporting events such as Olympic Games, FIFA World Cup, Cricket World Cup, UEFA Champions League, and NFL Super Bowl is key to the immense growth of this segment. Moreover, sporting events are also attracting a lot of crowd owing to factors such as improved infrastructure and availability of technological advances such as wireless connectivity and live screens.
On the basis of platform, the global ticket market has been segmented in the report into online and offline. Of these, the offline ticket platform accounted for the maximum share of the market in 2016. However, owing to the immense rise in Internet connectivity across the globe and the easy availability of digital ticket booking platforms, in the form of personal and mobile computing devices, the share of the online ticket booking platform is expected to emerge as the leading revenue generating ticket booking platform in the next few years.
From a geographical standpoint, the APAC ticket market is expected to be the highest revenue generator across the globe. Factors such as the rising numbers of live events and concerts in the region are expected to contribute to the growth of the regional market. Additionally, the rising disposable incomes of people in emerging countries such as India and China are also expected to contribute to the revenue valuation of the APAC ticket market over the forecast period.
The global ticket market features intense competition and is characterized by the presence of a large number of small and large companies. Companies such as StubHub, Cinemark, Ticketmaster Entertainment, TickPick, and RazorGator lead the global ticket market. Other prominent vendors in the market are Brown Paper Tickets, Bigtree Entertainment, Eventbee, Ace Ticket Worldwide, Tickets.com, Fandango Media, Cineplex, Reliance MediaWorks, Alliance Tickets, TicketCity, Coast to Coast Tickets, ThunderTix, Vivid Seats, TicketIQ, Cvent, gotickets.com, Xing Events, Eventbrite, Ticketek, MovieTickets.com, Yapsody, VOX Cinemas, and viagogo.
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