Rising disposable income has increased the market demand for online Event Ticket Sales ticketing. In addition, rising awareness has further boosted the market growth during the forecast period. The global event market is estimated to reach a value of over $6 billion by 2022. The US is expected to experience a high growth rate in the coming years due to increasing disposable income.
Online Event Ticketing
In the year 2022, the global market for online event ticketing Viator Promotional Code expected to reach US$60 billion, growing at a CAGR of 3.3%. This growth is expected to be driven by the rise in music events, which are projected to reach US$32.7 billion by the end of the analysis period. In addition to this, the sport and movie tickets segment is expected to grow at a 3.4% CAGR.
The growth of the online event ticketing market in the US is expected to be driven by the growing popularity of online booking. Several global and regional players are operating in the market. While there are some moderate barriers to entry, a number of new entrants have been making progress in the market.
The study also examines the market trends and drivers, as well as the opportunities and challenges it faces. It provides a detailed analysis of the global online event ticketing market and its key players. It also covers recent developments and the changing investment structure.
Online event ticket sales are an important part of the overall entertainment industry. The demand for such tickets is increasing at a steady pace due to a variety of factors. First of all, people’s disposable income determines how much they spend on event tickets. As incomes rise, people tend to purchase more tickets. Meanwhile, during periods of decreased income, sales of event tickets decrease. However, this is not the case in the US as per capita disposable income is expected to increase by 2021.
Another factor that is contributing to the market’s growth is the increasing number of consumers who are using smartphones for making purchases. These consumers are increasingly turning to online event ticketing for convenience. As more consumers are turning to online methods of purchase Viator Discount Code the market is expected to grow significantly over the next five years.
Detailed Analysis Market
The report offers a detailed analysis of the market, presenting historical data as well as projected market size and growth through 2022. The report also includes data on key trends and drivers that could affect the market’s growth in the future.
Table of Contents
The Online Event Ticket Sales market will grow at a CAGR of X.X% over the next five years, reaching revenue of $X.X billion in 2022. The report also includes forecasts of the industry’s growth rate, revenue, and share.
Annual Growth Rate
In the US, the online event ticketing market is estimated to grow to $18 billion by 2022, which represents an annual growth rate of nearly 18%. The industry is divided into three major segments: sponsorship sales, ticket sales, and other revenue sources. Sponsorships allow companies to gain brand visibility and reach new audiences while promoting their products or services. Thus, they are ideal for boosting sales.
There are multiple players in the US online event ticketing market. Some of them are global, while others are regional players. Several new entrants have gained traction in the market. Moreover, the number of professional events is increasing. AXS Group LLC and Bigtree Entertainment Pvt Ltd offer tickets for concerts, theater performances, and sports events.
Online Event Ticket Sales
The cost of online event ticket sales is projected to be more than $27 billion in the US by 2022, according to a new report by Forrester Research. However, there are several factors that determine the exact cost of online event ticket sales. First, event organizers need to decide the price of each ticket. They should also consider their break-even point, which is the total number of tickets sold minus all costs. Once they have figured out their break-even point, they can set ticket prices that will cover their expenses. Another good guide to event pricing is to analyze other similar events. These will give you a rough idea of attendance, size, and pricing. Moreover, they can help you understand the competitive space.
Moreover, the number of people who are willing to spend money on online event ticket sales has increased significantly. This is largely due to the growing number of people who are becoming tech-savvy and have growing disposable income. Moreover, Hollywood is a very popular place to spend money and tickets for its shows demand convenient modes of purchasing them. As a result, online event ticketing is becoming more popular in the US.
Global and regional players are competing in the online event ticket market. Although there are moderate barriers to entry, several new players are gaining traction in the market. For example, Cinemark Jacksonville recently announced that it will open a 14-screen movie theatre in Atlantic North mall. This will give eastern communities a more upscale cinema experience.
Increasing Disposable Income
With increasing disposable income, consumers have a greater willingness to spend money on event tickets. However, during times of declining income, people do not have the money to buy tickets. During these periods, event ticket sales tend to decline. The US is expected to have a rising per capita income by 2022, which is a positive sign for this industry.
Ticketmaster, Fandango, and StubHub are the leading players in the online event ticket market. These companies offer a variety of online event ticketing services and can help customers purchase tickets for concerts and theater events. The market is further segmented based on event type. In 2016, the sports segment accounted for 30% of the global online event ticket market. As sports continue to grow in popularity, their online sales will also continue to grow.
During the forecast period of 2022-2027, the Asia Pacific region is expected to dominate the online event ticketing market, with a market share of xx%. This growth can be attributed to increased per capita income and increased internet use in the region. Rising movie culture and the growing tech-savvy millennial population will also drive growth in the region.