The
global online movie ticketing services market size is expected to reach USD
40.66 billion by 2022, according to a new study by Grand View Research, Inc.
Increasing
adoption of smartphones and PCs among consumers is expected to drive the online
ticketing services industry growth over the forecast period. Additionally,
growing penetration of internet and broadband services along with enhanced
product offerings through such services has led to an increased popularity for
online ticketing service industry.
To
ensure an all-round experience for customers, service providers emphasize on
incorporating film reviews, trailers, and teasers along with film tickets in
their websites and mobile applications. In addition, these websites and mobile
applications provide users’ other content in the form of galleries, original
video series, exclusive celebrity interviews, and news.
Online
movie ticketing companies get paid by the film production companies and
production houses in return for displaying promotional activities. Moreover,
they also invest in movies and production houses to harness the potential high
earning opportunities in the industry.
In depth research report on Online Movie Ticketing
Services Market
Further key findings from the study suggest:
·
Internet ticketing is the
process whereby customers book movie tickets either via exhibitors’ websites or
third-party websites. Mobile ticketing is the process whereby customers order
tickets using their mobile handsets through exhibitor’s mobile applications or
third-party ticket provider’s mobile applications. Internet-based ticket
booking accounted for over 60% of the market share in 2014. However, with the
increasing use of smartphones and mobile applications, the industry is expected
to witness a major turnaround, with mobiles projected to capture a considerable
portion of internet’s revenue share.
·
North America accounted for
approximately 33% of the market share in 2014 and is expected to maintain a
steady growth throughout the forecast period. Latin America is expected to grow
at a CAGR of over 16% over the forecast period on account of increasing buying
power, especially in the developing economies such as Brazil and Mexico.
Governments and technology giants across the world are striving hard to provide
internet to people as a basic necessity. Countries such as India, China, and
Japan from the Asia Pacific region are expected to push regional industry
growth owing to the increasing access to affordable internet on mobile and PC.
·
Major industry participants are
engaged in providing their customers a wide range of product offerings through
websites and mobile applications. The service providers have established
tie-ups with various financial institutions such as banks and digital wallet
providers drawing heavy web traffic and an eventual increase in the financial
transactions over the website. The industry is largely competitive and
companies have taken up mergers and acquisitions as their key growth strategies
to acquire a major share in the industry.
·
Key companies include
Movietickets.com, Fandango, Vue Entertainment, AOL MovieFone Inc., BIG Cinemas,
BookMyShow, Cineplex Entertainment, Ticket Please, and VOX Cinemas. Fandango
represents a considerable portion of the market space in the U.S. The company
is rapidly growing in the film business. The company announced its partnership
with Movieticketing.com, AOL MovieFone, MSN Entertainment, and Yahoo Movies to
sell tickets.
Grand
View Research has segmented the global online movie ticketing services market
on the basis of platform and region:
Online Movie Ticketing Services Platform Outlook
(Revenue, USD Billion, 2012 - 2022)
·
Internet
·
Mobile
Online Movie Ticketing Services Regional Outlook
(Revenue, USD Billion, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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