The primary ticketing segment now leads the US theatre ticket market with the highest market share in 2020 and will continue to dominate during the estimated period.
Dallas, United States - December 15, 2021 /MarketersMedia/ —
In the internet of things age, online ticket bookings have been a major driver of the US theatrical ticket business. Other ticketing systems retain the market position of US theatre tickets market by expanding into multiple channels such as social media, event websites, and other ticketing platforms. The use of mobile technologies is unquestionably an important trend in the US theatre tickets market. The US Theatre tickets market stood at USD 13.07 billion in 2018 and is anticipated to grow to USD 22.07 billion until 2025.
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Because production firms get a big portion of the cash earned by ticket sales, movie theatres make the majority of their profit from concession sales, which are their primary source of the US theatre tickets market revenue. Consumers who are dissatisfied with these high ticket costs and want to save money by avoiding needless travel to use less gasoline tend to prefer alternate types of entertainment, such as video games and Netflix streaming. Baby boomers, in particular, are going to the movies less often than in the past. These factors may act as restraints in the US theatre tickets market.
According to research numbers published by the National Association of Theatre Owners, US moviegoers are paying record ticket prices, with an average of close to $8 in 2010, after a 5% year-on-year rise. Thus, ticket costs are growing mostly as a result of 3D movie screenings, which result in fees ranging from $2.50 to $4 per ticket. According to the Los Angeles Times, the increased popularity of 3D movies has resulted in the category accounting for 20% of box-office revenue.
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Report Scope
Study Period: 2018 - 2025
Base Year: 2020
Fastest Growing Market: US
Largest Market: North America
CAGR: 7.4%
The US theatre ticket market is basically segregated into type, theatre type, and platform. In terms of type, the US theatre tickets market is separated into primary as well as secondary. Among these, the primary ticketing segment now leads the market with the highest market share in 2020 and will continue to dominate during the estimated period. On the other hand, the second segment is also on the increase, with the fastest growth rate due to the advent of ticket resale platforms, which has helped customers by increasing competition and choices.
Based on theatre type, the industry is fragmented into Broadway and others. On considering the platform, the US Theatre tickets market is separated into online and offline.
Viagogo, Ticketmaster, SeatGeek, StubHub, TickPick LLC, and others are important market participants in the US theatre tickets market. The US theatre tickets market is dominated by fewer than a dozen businesses, while the secondary ticketing market is dominated by StubHub. These industry leaders have always aimed to achieve greatness through collaborations, alliances, contracts, and firm expansions.
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FAQs:
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