The global online movie ticketing services market is projected to expand at a substantial CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to the rising shift in consumer preference for booking movie tickets from traditional services to mobile applications.
The online movie ticketing provides easy and convenience process of booking tickets using smartphones or PC. The online booking service is hassle-free, convenient, and faster alternative for the offline ticket booking as the online method avoids standing in queue, thus, saving time and efforts of customers. The customers now-a-days prefer to book the movie tickets through online platforms despite paying an extra marginal handling charges. This is all due to the improved convenience of the whole ticket booking procedure, easy transaction means, and attractive offers and deals provided by service suppliers. Moreover, extensive use of smartphones and advancements in internet connectivity including arrival of 4G are key factors that help consumers to easily access to online movie ticketing services. The services can be performed using other internet connected devices such as tablets, TVs, PCs, and others.
To attract customers as well as to maintain a good relationship with the customers, various market players are taking numerous genuine efforts to make the process easy. Several leading companies are concentrating on improving their website design to satisfy the changing customer preferences more efficiently. Availability of a variance of convenient methods such as introduction of user-friendly mobile applications for online ticket booking plays an important role for the market expansion. Numerous market players are gradually launching creative methods and several advertisement on social media platforms to draw consumers’ attention towards online booking service is another vital factor for the market development.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing disposable income of consumer and their rising preference for spending on entertainment activities to spend leisure time are key factors driving the market growth.
- Expanding adoption of smartphone devices and other consumer electronic devices is expected to propel the market growth during the forecast period.
- Growing penetration of internet and availability of low-price internet data scheme worldwide are boosting the market expansion.
- Lack of cost supervision and higher prices for online movies ticketing services are the major factors challenging the market growth.
- Ongoing R&D activities as well as large investments by some market players to improve the design and function of the applications for the online movie ticketing services are presenting numerous opportunities for the expansion of market.
Scope of the Report
The report on the global online movie ticketing services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Global Online Movie Ticketing Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Platforms (Mobile and PC)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
AOL Inc.; Atom Tickets LLC; Big Cinemas; Bigtree Entertainment Pvt Ltd.; Cinemark Holdings Inc.; Cineplex Inc.; Fandango; Inox Leisure Ltd.; Movietickets.com; Mtime; and VOX Cinemas
Global Online Movie Ticketing Services Market Segment Insights
PC segment is anticipated to dominate the market
Based on platforms, the market is bifurcated into mobile and PC. The PC segment is anticipated to dominate the market during the forecast period owing to the easy handling of the ticket booking and wide adoption of PC among consumers. Less penetration of mobile applications in various countries as well as the increasing customer attraction towards the third-party websites to book movie tickets are key driving factors for the segment growth. On the other hand, the mobile segment is projected to account for a significant growth in the coming years due to the extensive use of smartphone devices across the globe and the rising demand for smartphone apps for booking the movie tickets. The internet connectivity with high-speed is playing an important role in the growth of this segment. The evolution of internet from 2G to 3G, 4G, and LTE technologies is growing the usage of internet across the world.
North America is projected to dominate the market
In terms of regions, the global online movie ticketing services market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is projected to dominate the market and is expected to account for a large market share over the analysis years owing to the increasing adoption of online transaction across the U.S. and Canada. The wide adoption of digitalization across entertainment houses has pushed to grow the demand for online movie ticketing services. On the other hand, the markets in Latin America and Asia Pacific are anticipated to expand at a high CAGR during the forecast period owing to the increasing disposable incomes of people in developing countries including China, India, Mexico, and Brazil. The growing preference of customers towards spending their additional expenditure on leisure activities. Moreover, the arrival of new movie theatres and multiplexes, enlarged adoption of western lifestyle, rising internet penetration, and major economic growth are key factors significantly pushing the market growth in these regions.
The global online movie ticketing services market has been segmented based on
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Some major players competing in the global online movie ticketing services market include AOL Inc.; Atom Tickets LLC; Big Cinemas; Bigtree Entertainment Pvt Ltd.; Cinemark Holdings Inc.; Cineplex Inc.; Fandango; Inox Leisure Ltd.; Movietickets.com; Mtime; and VOX Cinemas.
These leading market players are using strategies including mergers, acquisition, partnerships, new launches, collaborations, and product development to build their strong position in the market. The R&D and innovation are the key strategies widely adopted by several players to improve their competitive position in the market. To enhance the offerings in sports and entertainment fields, several companies are concentrating on partnering with live streaming channels and advertisers.
For instance, in September 2020, Zee Entertainment Enterprises Limited, introduced its pay per view movie service Zee Plex, a new film distribution service, to present new films on OTT and DTH platforms. This move was intended to meet the growing demand for watching movies among consumers during coronavirus pandemic. In November 2020, a multiplex chain operator PVR Cinemas announced its partnership with a business accelerator firm India Accelerator (IA) to guide the start-ups working in the media and entertainment space. The selected start-ups may get access to PVR-IA’s technological and business infrastructure, mentoring, and network building opportunities.