NEW YORK, Feb. 5, 2025 /PRNewswire/ -- Report on how AI is redefining market landscape - The global secondary tickets market size is estimated to grow by USD 89.7 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of 23.1% during the forecast period. Rising popularity of sports events is driving market growth, with a trend towards adoption of dynamic pricing. However, growing consumption of online content poses a challenge. Key market players include Ace Ticket LLC, Anschutz Entertainment Group Inc., Citizen Ticket Ltd., Coast To Coast Tickets LLC, CTS Eventim AG and Co. KGaA, eBay Inc., Eventbee Inc., Eventbrite Inc., Face-value Alliance Ticketing Ltd., Ideabud LLC, Live Nation Entertainment Inc., PrimeSport LLC, SeatGeek Inc., Ticket City Inc., TicketNetwork Inc., TickPick LLC, TiqIQ LLC, Twickets Ltd., Viagogo Entertainment Inc., and Vivid Seats Inc..

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Market Driver

The secondary tickets market, which includes the resale of tickets for sold-out concerts, big athletic events, and blockbuster theatrical plays, has seen a significant spike in demand due to customer willingness for convenient participation in these events. However, this market is not without its challenges. Fraudulent activities, such as unfair competition and ticket scalping, have raised moral concerns. Dishonest persons use bots and automated software to buy tickets in restricted quantities and resell them at exorbitant costs. These practices undermine consumer trust and create risks for sincere fans. Ethical considerations and technological changes are essential to creating an equitable ticket allocation in the user-friendly ecosystem of secondary ticket marketplaces. The entertainment industry and consumers alike must address these issues to ensure authentic tickets are available at acceptable prices. 

Dynamic pricing is a flexible pricing strategy used by businesses to set ticket prices based on current market demand. In the secondary tickets market, event organizers and teams may adjust prices based on factors like holidays, player injuries, team records, day of the week, and weather forecasts. Prices can rise or fall within pre-set limits to maximize revenue and meet demand. This strategy allows for more efficient ticket distribution and can help ensure fair prices for consumers. Organizers often establish rules to prevent excessive price fluctuations, maintaining a balance between affordability and profitability. 

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Market Challenges

• The secondary tickets market presents significant challenges for official channels in the entertainment industry. With sold-out concerts, big athletic events, and blockbuster theatrical plays, the demand for tickets often outstrips the restricted quantity available. This creates an opportunity for fraudulent activities, such as unfair competition, ticket scalping, and resale of tickets at exorbitant costs. Dishonest persons use bots and algorithms to buy tickets in bulk and sell them at inflated prices, eroding customer trust. Moral concerns arise as sincere fans are priced out, while scalpers command a global market. However, consumer complaints and technological changes are driving innovation. Blockchain technology offers solutions through ticket ownership, authentic tickets, and acceptable prices. User-friendly ecosystems, security measures, and equitable ticket allocation are becoming essential to maintain a healthy market. The entertainment industry must address these challenges to ensure a fair and ethical secondary tickets market.
• In 2021, the online video market experienced a significant growth, with a ten-fold increase in the number of videos watched compared to previous years. This trend was driven by the increasing average Internet speed worldwide. Developing countries, such as Pakistan, India, and Brazil, reported notable gains, with a 56%, 71%, and 32% increase in Internet speed, respectively. Affordable Internet packages from network providers have contributed to this growth, enabling more consumers to connect at a lower cost. The availability of economic data plans has expanded Internet access, leading in the number of users.

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Segment Overview

This secondary tickets market report extensively covers market segmentation by

• Type
• • Sports Events
  • Concerts
  • Performing Arts
  • Movies
• Mode Of Booking
• • Online
  • Offline
• Geography
• • North America
  • APAC
  • Europe
  • South America
  • Middle East And Africa

1.1 Sports events- The sports events segment is anticipated to dominate the global secondary tickets market due to the increasing popularity of various sports like rugby, soccer, football, cricket, baseball, and tennis. Major events such as the NFL, MLB, UEFA Champions League, and Super Bowl have seen a in attendance, leading to an increase in sales of secondary tickets. Secondary ticket sellers acquire tickets from primary sources, including official team or league websites and box offices. Season ticket holders, who may not be able to attend all games, contribute significantly to the sports events segment. They sell their unused tickets on secondary platforms, thereby fueling market growth.

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Research Analysis

The secondary tickets market refers to the buying and selling of tickets for events that have already been sold out through unofficial channels. This marketplace caters to the high demand for participation in sold-out concerts, big athletic events, and blockbuster theatrical plays. However, it is not without its controversies. Fraudulent activities such as unfair competition, ticket scalping, and resale of tickets at exorbitant costs by dishonest persons and automated software pose ethical concerns. Sincere fans may be left disappointed by inflated prices and deceptive advertising on third-party platforms. Moral concerns aside, the risks associated with the secondary tickets market include the possibility of purchasing fraudulent tickets and the lack of customer trust. Despite these challenges, the convenience of securing tickets to popular events remains a significant draw for many.

Market Research Overview

The secondary tickets market refers to the buying and selling of tickets for events outside of official channels. This marketplace is characterized by high demand for sold-out concerts, big athletic events, and blockbuster theatrical plays. However, it is not without its challenges. Fraudulent activities, such as unfair competition and ticket scalping, are common, raising ethical concerns. Demand for tickets often outstrips supply, leading to inflated costs and risks for customers. Dishonest persons use automated software, bots, and algorithms to buy tickets in large quantities and resell them at exorbitant prices. Moral concerns around ticket scalping and the resale of tickets have led to calls for more equitable ticket allocation and user-friendly ecosystems. Consumer complaints and technological changes are driving the adoption of blockchain technology to ensure ticket ownership and authenticity. The secondary ticket market is a global marketplace, with casual sellers and professional resellers/brokers commanding a commanding presence. The entertainment industry, urbanization, and customers' appetite for experiences continue to fuel the demand for this market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• • Sports Events
  • Concerts
  • Performing Arts
  • Movies
• Mode Of Booking
• • Online
  • Offline
• 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
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio