In a recent published report, Kenneth Research has updated the market report for U.S. Online Event Ticket Sales Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for U.S. Online Event Ticket Sales Market products.
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The U.S. online event ticket sales market was valued at USD 4,890 million by 2017, growing with 5.0% CAGR during the forecast period, 2018-2025
Online Event Ticket Sales industry is growing strongly and experiencing a major shift from physical tickets to digitized mobile ticket experience. The ease of online buying, particularly through fingerprint scanning, digital ticketing and mobile wallets has significantly benefited the industry growth. Consumers have become increasingly comfortable making purchases of event tickets through mobile phones, since ticket applications eliminate the need for mail or print tickets at home prior to an event. In addition, it is analysed that the future of industry operators is in its ability to increase personalization, customization and socialization of ticket sales.
Selling concert tickets
Selling arts and theatrical performance tickets
Selling sporting event tickets
Selling children’s and family-themed performance tickets
Selling music concert tickets is accounted for the highest revenue share, over 35% share of the global industry revenue. This segment includes tickets to live music performances at music theaters, clubs, and amphitheaters, as well as local music festivals. Dance, opera and theatrical performances segment is estimated to account over 20% of the industry’s revenue, representing a slight decline over the study period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Key Vendors Takeaway
Atom Tickets LLC
Live Nation Entertainment
Cinemark Holdings Inc.
Of the key players, Live Nation Entertainment accounted for highest revenue share. Large companies are continually acquiring and merging with small scale players to expand their services and customer base. For instance, eBay sparked this trend through its acquisition of Spain’s Ticketbis for USD 165 million to expand StubHub into Latin America, Europe and Asian countries.
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In addition, various niche players catering to specific audiences and clients have sprouted, tailoring the experience to the user. For example, Flavorus is a ticket-selling site that focuses on music festivals and DJ events. It gives event creators the ability to post ticket sales pages, create customized venue seating charts, connect with event attendees through social networks and keep in touch with fans after the event.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TYPES
Selling Concert Tickets
Selling Arts and Theatrical Performance Tickets
Selling Sporting Event Tickets
Selling Children’s and Family-Themed Performance Tickets
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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