The online movie ticketing services market size was estimated at USD 13.98 billion in 2014. High internet penetration, digital media and rigorous promotion and advertising of films are expected to drive industry demand.
The industry growth can be attributed to increased customer convenience of booking tickets using the internet or mobile applications whenever and wherever they want. Such services offer paperless tickets at theaters, eliminating the hassles of carrying physical tickets for customers and resulting in an overall cost savings for theaters and multiplexes.
Rise in the development of mobile applications by various online movie ticketing service providers for smartphone OS such as iOS, Android, and Windows is projected to spur industry growth over the forecast period. These offerings help cultivate better customer relationships. Real-time display of seat availability, discounts, offers and deals play an important role in attracting consumers to buy tickets online.
Customer willingness to avail these services by paying extra marginal internet handling charges in order to avoid standing in long queues and guarantee securing their ticket has considerably driven market growth. These platforms allow users to read film reviews, celebrity interviews, and synopsis. In addition to tickets, they offer passes to a wide range of events that include sports and music concerts thereby incorporating significant opportunities in the field over the next seven years.
However, increasing incidents of fraudulent activities and fake websites are expected to challenge market growth. These factors exploit the convenience and anonymity of the internet and thus making the system less dependable and trustworthy. Moreover, the uninformed rise in prices along with additional surcharges passed on to the customer can act as a challenge for the industry growth.
North America online movie ticketing services market revenue by platform, 2012-2022, (USD Billion)
Platforms analyzed in the study include internet and mobile. The mobile platform was valued at over USD 4.5 billion in the year 2014 and is expected to witness significant growth over the forecast period. The increase in the development of mobile applications providing online movie ticketing services is presumed to increase the popularity, awareness, and adoption of the industry.
A large number of loyalty programs are being offered by service providers for the consistent and high revenue generating customers with a view to retain them for a longer period through their mobile platforms. This is anticipated to offer lucrative growth opportunities over the next seven years.
Increased proliferation of smartphones along with greater affordability of 3G and 4G internet packs is expected to offer significant opportunities for service providers. Mobile booking is perceived as a simpler task in comparison with traditional internet booking. Application developers are coming up with convenient, user-friendly interfaces and frequent updates to enhance user experience.
The internet platform is estimated to witness low growth over the forecast period, as consumers have exhibited a tendency of using mobile applications instead of websites for booking tickets on account of the convenience offered by the former.
North America online movie ticketing services market was valued at over USD 4.0 billion in 2014 and is expected to remain the dominant region over the forecast period. Higher per capita income and increased proliferation of technology in countries such as the U.S and Canada is presumed to boost sales in these countries.
The U.S. is envisioned to witness significant growth over the forecast period, due to the huge tech savvy population in the country with increasing disposable incomes. Moreover being the home of Hollywood, consumers look up towards easy ticket buying experience, thereby elevating industry demand in the country.
Projected to grow at a CAGR of over 14.0% from 2015 to 2022, Asia Pacific online movie ticketing services market is expected to gain prominence. This growth can be attributed to increasing penetration of internet and smart devices in the region.
Factors such as strong economic growth and prosperity, the shift towards western oriented lifestyle, rising broadband penetration, and the launch of new age multiplexes, are expected to drive industry growth in countries, such as India and China, over the forecast period.
Competitive Market Share Insights
Key companies include Movietickets.com, Fandango, Mtime, Cinemark Holdings Inc, AOL, Big Cinemas, MovieFone Inc., BookMyShow.com, VOX Cinemas, and Vue Entertainment. These players are focusing on developing offerings apart from movie ticketings such as leisure and entertainment. Thus, the vendors are establishing tie-ups with various financial institutions such as banks and digital wallet service providers to provide various offers to the customers, thereby drawing increasing traffic and an eventual increasing the financial transitions over the website.
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