LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global secondary tickets market is expected to grow at a CAGR of close to 13% during the forecast period.
This research report titled ‘Global Secondary Tickets Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global secondary tickets market into four major segments based on event. They are:
- Sporting events
- Live events
- Theaters
- Movies
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Global secondary tickets market by sporting events
The global secondary tickets market by sporting events has been experiencing growth for over a decade and offers high growth prospects during the forecast period. The sporting events are gaining high traction because of the extraordinary experience they provide while viewing the sports live at the venue. This type of event involves high enthusiasm and a passion for exploring, understanding, and analyzing the game, strategy, and coordination of different teams playing the games.
“There is an increase in the number of sporting events owing to the growing enthusiasm and passion for sports, which has led to the establishment of many teams representing various countries. In 2016, the sporting events market accounted for nearly more than 40% of the global events market in terms of tickets, and it is expected to increase rapidly during the forecast period,” says Ujjwal Doshi, a lead analyst at Technavio for media and entertainment services research.
Global secondary tickets market by live events
The passion and love for music have led to the creation of several musical bands. The number of concerts performed by these bands in various places has increased owing to the increased interest of the young population in music which is contributing to the continuous growth of the concert ticket market.
“Concerts and live performances are the only means by which music lovers get to see their favorite artists perform on stage. Tomorrow land and Sunburn are some of the major concerts that attract millions of viewers from across the world. The high level of enthusiasm and interest of the audience for live performances is leading to high revenue generation for artists, ticket providers, and event organizers, thus, supporting the growth of the global secondary tickets market,” says Ujjwal.
Global secondary tickets market by theaters
The global secondary tickets market by theaters is likely to experience stagnant growth during the forecast period. As these shows face tough competition with movies, growth is likely to be slow during the forecast period. These performances are frequently repeated and hence lose their charm for viewers. Therefore, the revenue growth is very limited as the scope for buying secondary tickets for such repetitive performances is negligible.
Although stand-up comedies and musical shows attract viewers and act as stress-busters, the viewers cannot watch the same on a repetitive basis. This remains a challenge for the market as the artists have to come up with new concepts and skills frequently. Technavio expects this segment to grow, which is attributed to the growing interest of viewers in comedy shows and events that reduce stress.
Global secondary tickets market by movies
The box office market has been witnessing exponential growth. The increase in revenue in this market is attributed to the rising disposable income, which has led audiences to buy highly priced tickets for high-quality movies with advanced visual effects. The rise in the prices of movie tickets is directly related to the improving quality of movies.
However, with the availability of many primary ticket providers, the growth of the global secondary tickets market is negligible. Moreover, with the growing number of multiplexes and the increased number of shows, the need for secondary tickets is minimal. This is likely to lead to a decline in revenue during the forecast period.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- RazorGator
- StubHub
- Ticketmaster Entertainment
- TickPick
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