Global Ticket Market 2017-2021
People buy tickets to attend entertainment events such concerts, sports, movies, and live performances. As the number of events are increasing every year, event managers and organizers are looking for an advanced and upgraded solution to offer maximum comfort and benefit to consumers. Online ticketing, which is one of the major platforms for booking tickets, allows users to book tickets using mobile apps. Customers can choose the event and venue using the app. Users can book tickets at their convenience and store them on their mobile devices, eliminating the need for taking or carrying a hardcopy to the venue. Furthermore, mobile ticket sales will also support in-app advertising, which is cost effective compared with traditional advertising models.
Technavio’s analysts forecast the global tickets market to grow at a CAGR of 6.3% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global tickets market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales tickets for the following entertainment events:
Technavio Announces the Publication of its Research Report – Global Tickets Market 2017-2021
Technavio recognizes the following companies as the key players in the global tickets market: Cinemark, RazorGator, StubHub, Ticketmaster Entertainment, and TickPick
Other Prominent Vendors in the market are: Bigtree Entertainment, Cineplex, Ace Ticket Worldwide, Alliance Tickets, Brown Paper Tickets, Coast to Coast Tickets, Cvent, Eventbee, Eventbrite, Fandango Media, gotickets.com, MovieTickets.com, Reliance MediaWorks, ThunderTix, TicketCity, Ticketek, Tickets.com, TicketIQ, viagogo, Vivid Seats, VOX Cinemas, Xing Events, and Yapsody
Commenting on the report, an analyst from Technavio’s team said: “The passion for sports has led to the development of several sporting events. The Olympics Games, FIFA World Cup, Super Bowl, and Cricket World Cup are some of the most popular sports that are watched by billions of people across the world. Super Bowl, which is an American football game, is played annually and has millions of viewers. Cricket World Cup and FIFA World Cup are played in four-year gaps. Games such as UEFA Champions League, Rugby World Cup, Formula One Racing, and Wimbledon Tennis are some of the other games with the highest individual traction. With the increasing interest and passion for sporting events among individuals, there is an increase in the number of tickets being sold each year. This is leading to the high growth of the global ticket market.”
According to the report, the global box office market is gaining more prominence than local or regional box office markets because their films cater to the international audience. Hollywood, which is the largest film industry in the world, generated more than 70% of its revenue in 2016 from the international market. The growing importance of the global box office market is encouraging local box offices to create meaningful movies, which is helping them attract more revenue. For instance, Marvel’s Avengers: Age of Ultron was one of the highest-grossing Hollywood movies in the history of the South Korean box office market, with collections exceeding $55 million. The growing number of concept movies and innovative themes will likely generate more revenue for the market through movie tickets during the forecast period.
Further, the report states that online screening of live performances and events is a major barrier for the revenue inflow of the global ticket market. With the growth in the entertainment market, more shows such as stand-up comedies, talent shows, and short dramas are expected to be released every year. These shows can have a big or small budget. Big event organizers invest heavily in promoting their shows and events. However, organizers with smaller budgets invest in a calculative way, which sometimes fails to attract viewers and therefore they refrain from buying tickets. Furthermore, the tickets for popular shows by renowned artists are too expensive for some individuals. Viewers prefer watching such shows at home using DVDs or in a downloaded form. This is will likely lead to the emergence of online screening of shows and events, where a viewer will not need to wait for the release of shows and movies in physical forms. The online screening of events and shows is expected to reduce the revenue inflow of the market, and it will pose a threat to the growth of the global ticket market.
Cinemark, RazorGator, StubHub, Ticketmaster Entertainment, TickPick, Bigtree Entertainment, Cineplex, Ace Ticket Worldwide, Alliance Tickets, Brown Paper Tickets, Coast to Coast Tickets, Cvent, Eventbee, Eventbrite, Fandango Media, gotickets.com, MovieTickets.com, Reliance MediaWorks, ThunderTix, TicketCity, Ticketek, Tickets.com, TicketIQ, viagogo, Vivid Seats, VOX Cinemas, Xing Events, Yapsody
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