NEW
YORK, Aug. 23, 2024 /PRNewswire/ -- The
global online movie ticketing service market size is
estimated to grow by USD 8.83 billion
from 2024-2028, according to Technavio. The market is estimated to
grow at a CAGR of over 7.44% during the forecast period.
Growing popularity of global box office is driving market
growth, with a trend towards increasing focus on
paperless transaction. However, rising film piracy poses a
challenge. Key market players include 360 Ticketing, Atom Tickets
LLC, Big Tree Entertainment Pvt. Ltd., Moviefone Media LLC,
Carnival Films Pvt. Ltd., Cinemark Holdings Inc., Cineplex Inc.,
Comcast Corp., Dalian Wanda Group, ELAN Group, Zoonga, JustTickets
Pvt. Ltd., Maoyan Entertainment, One97 Communications Ltd., Ticket
New, PVR Ltd., Tao Piao Piao, V Celluloids, VOX Cinemas, and VUE
INTERNATIONAL.
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Online Movie
Ticketing Service Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
7.44%
|
Market growth
2024-2028
|
USD 8837.9
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
6.4
|
Regional
analysis
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
32%
|
Key
countries
|
US, China, UK, Germany,
and Japan
|
Key companies
profiled
|
360 Ticketing, Atom
Tickets LLC, Big Tree Entertainment Pvt. Ltd., Moviefone Media LLC,
Carnival Films Pvt. Ltd., Cinemark Holdings Inc., Cineplex Inc.,
Comcast Corp., Dalian Wanda Group, ELAN Group, Zoonga, JustTickets
Pvt. Ltd., Maoyan Entertainment, One97 Communications Ltd., Ticket
New, PVR Ltd., Tao Piao Piao, V Celluloids, VOX Cinemas, and VUE
INTERNATIONAL
|
Market Driver
The global online movie ticketing service market is experiencing
significant growth due to the increasing emphasis on paperless
transactions. Governments worldwide are promoting digital
transactions to reduce deforestation and environmental pollution.
Telecom and banking organizations have adopted digital platforms
for monetary transactions, leading to the proliferation of
e-tickets for movies. Viewers can now book tickets at their
convenience and receive them via messages or emails, eliminating
the need for physical tickets. This trend is expected to continue,
contributing positively to the growth of the online movie ticketing
service market.
The online movie ticketing service market is currently thriving,
with significant industry players like BookMyShow,
MovieTickets.com, and Fandango leading the charge. The trend
towards rapid digitization and urbanization, along with the
adoption of smartphones and increased internet usage, have fueled
the market's growth. Consumers appreciate the ease and convenience
of purchasing tickets online, especially during traffic jams and
extended working hours. Looking ahead, the market is anticipated to
expand further with the development of new technologies, such as
improved websites and shopping applications, faster delivery times,
and convenient payment options. International producers and
suppliers are also entering the market, increasing competition and
driving innovation. New laws and regulations may impact the market,
but the overall future prospects remain positive. As the market
grows, investment requirements are also rising, with retailers
focusing on expanding their product offerings, improving customer
experience, and offering door delivery and home delivery options.
The convenience of online shopping has become a staple for many
consumers, and movie ticketing services are no exception. Despite
the challenges, the market's profit margins are expected to remain
strong, making it an attractive investment opportunity.
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Market Challenges
- Online movie ticketing services have gained significant
popularity due to their convenience and ease of use. However, this
trend has also led to an increase in film piracy, which is a major
concern for the movie industry. Film piracy refers to the
unauthorized distribution or sharing of copyrighted movies or TV
shows. With online ticketing services providing a convenient
platform for accessing and downloading pirated content, it has
become a significant issue. The negative impacts of film piracy in
the online movie ticketing service market are far-reaching.
Firstly, it can harm the profitability of the movie industry by
diverting potential paying customers towards pirated content. This
can lead to a reduction in revenue for the movie industry, which
may ultimately result in reduced investment in future film
production. Moreover, film piracy can also negatively impact the
quality of movies and TV shows available to viewers. Piracy can
discourage studios and producers from investing in high-quality
content, knowing that their work may be stolen and distributed
without their consent. In the long term, this can lead to a
reduction in the diversity and creativity of the film industry. To
tackle this issue, several measures can be taken. These may include
stronger enforcement of copyright laws, more effective digital
rights management systems, and greater public awareness campaigns
about the negative impacts of piracy. It is crucial for all
stakeholders in the movie industry to work together to address this
challenge and ensure that content creators are fairly compensated
for their work. In conclusion, film piracy is a significant
challenge for the online movie ticketing service market. It can
harm the profitability of the movie industry, reduce the quality of
content available to viewers, and ultimately hinder the growth of
the market. It is essential to take proactive measures to address
this issue and ensure that the movie industry continues to
thrive.
- The online movie ticketing service market faces several
challenges in the movies and entertainment industry.
Personalization based on location, interests, and usage patterns is
essential for customer engagement. Online transactions require
secure payment gateways and consumer trust. Strategic alliances
with movie theaters and multiplexes are key for success. Laser
projection systems and consumer interest in movies drive demand.
Emerging economies with growing disposable incomes present
opportunities. Mergers and acquisitions, collaborations, and
technological advancements shape the industry. Seat location,
auditorium, viewing preferences, and seat selection require
user-friendly interfaces. Mobile phones, laptops, tablets, and PCs
are popular devices for booking tickets. High-speed internet
connectivity through 2G, 3G, 4G, and LTE technologies enable online
ticketing. Economic growth in various economic areas continues to
fuel market expansion. The film and entertainment industry's
turmoil impacts the market, making adaptability crucial.
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Segment Overview
This online movie ticketing service market report extensively
covers market segmentation by
- Platform
- 1.1 Mobile devices
- 1.2 Desktops
- Application
- 2.1 Cinema
- 2.2 Shopping malls
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Mobile devices- The online movie ticketing
service market is a significant segment in the entertainment
industry. It allows customers to book movie tickets from the
comfort of their homes or on-the-go using smartphones. Major
players in this market include BookMyShow, Paytm, and IN Oxigen.
These companies offer various features like multiple payment
options, seat selection, and discounts to attract customers. The
market's growth is driven by increasing internet penetration,
growing smartphone usage, and the convenience it provides to
consumers.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Online Movie Ticketing Service Market has experienced
significant growth in recent years, driven by the widespread use of
smartphones, Internet, and digital ticketing solutions. Consumers
can now easily select, reserve, and purchase movie tickets from the
comfort of their mobile phones, laptops, tablets, or PCs.
Moviegoers can access trailers and other movie information on
third-party websites and Internet portals, streamlining the
movie-going experience. The film industry has embraced this trend,
with current trends including expansion strategies and partnerships
with significant industry players. Anticipated future changes
include the integration of biometric identification and contactless
payment systems. International producers are also entering the
market, making it a dynamic and competitive landscape.
Market Research Overview
The Online Movie Ticketing Service Market is experiencing
significant growth due to the increasing use of smartphones and the
Internet for movie ticket selection, reservation, and purchase.
Digital ticketing solutions and e-commerce platforms are becoming
increasingly popular among movigoers, with tech giants initiating
various initiatives to enhance user experience. Credit card
payments and mobile apps offer convenience and personalization
based on location, interests, and usage patterns. Technological
advancements such as laser projection systems and high-speed
internet connectivity (2G, 3G, 4G, LTE) are driving the market. The
film and entertainment industry's economic growth in emerging
economies and economic areas, as well as mergers and acquisitions,
collaborations, and strategic alliances, are contributing to the
market's expansion. The current situation is marked by rising
investment requirements, developing technology, and new laws.
Anticipated future changes include increased consumer interest in
movies and entertainment, disposable income, and online
transactions. The mobile segment, user-friendly interfaces, and
mobile applications are current trends, with significant industry
players focusing on expansion strategies and international
producers and suppliers playing a crucial role. The current
industry turmoil and current trends indicate that the market for
online movie ticketing services will continue to grow in the
future, with significant opportunities for innovation and
growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Platform
-
- Application
-
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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