San Francisco, 22
November 2018: The global online movie ticketing services market size is expected to reach USD 40.66 billion by
2022, according to a new study by Grand View Research, Inc.
Increasing adoption of
smartphones and PCs among consumers is expected to drive the online ticketing
services industry growth over the forecast period. Additionally, growing
penetration of internet and broadband services along with enhanced product offerings
through such services has led to an increased popularity for online ticketing
service industry.
To ensure an all-round
experience for customers, service providers emphasize on incorporating film
reviews, trailers, and teasers along with film tickets in their websites and
mobile applications. In addition, these websites and mobile applications
provide users’ other content in the form of galleries, original video series,
exclusive celebrity interviews, and news.
Online movie ticketing
companies get paid by the film production companies and production houses in
return for displaying promotional activities. Moreover, they also invest in
movies and production houses to harness the potential high earning
opportunities in the industry.
Access Research Report
of Online Movie Ticketing Services Market@ www.grandviewresearch.com/industry-analysis/online-movie-ticketing-services-market
Further key findings from the study suggest:
· Internet ticketing is the process whereby
customers book movie tickets either via exhibitors’ websites or third-party
websites. Mobile ticketing is the process whereby customers order tickets using
their mobile handsets through exhibitor’s mobile applications or third-party
ticket provider’s mobile applications. Internet-based ticket booking accounted
for over 60% of the market share in 2014. However, with the increasing use of
smartphones and mobile applications, the industry is expected to witness a
major turnaround, with mobiles projected to capture a considerable portion of
internet’s revenue share.
· North America accounted for approximately
33% of the market share in 2014 and is expected to maintain a steady growth
throughout the forecast period. Latin America is expected to grow at a CAGR of
over 16% over the forecast period on account of increasing buying power,
especially in the developing economies such as Brazil and Mexico. Governments
and technology giants across the world are striving hard to provide internet to
people as a basic necessity. Countries such as India, China, and Japan from the
Asia Pacific region are expected to push regional industry growth owing to the
increasing access to affordable internet on mobile and PC.
· Major industry participants are engaged in
providing their customers a wide range of product offerings through websites
and mobile applications. The service providers have established tie-ups with
various financial institutions such as banks and digital wallet providers
drawing heavy web traffic and an eventual increase in the financial
transactions over the website. The industry is largely competitive, and
companies have taken up mergers and acquisitions as their key growth strategies
to acquire a major share in the industry.
· Key companies include Movietickets.com,
Fandango, Vue Entertainment, AOL MovieFone Inc., BIG Cinemas, BookMyShow,
Cineplex Entertainment, Ticket Please, and VOX Cinemas. Fandango represents a
considerable portion of the market space in the U.S. The company is rapidly
growing in the film business. The company announced its partnership with
Movieticketing.com, AOL MovieFone, MSN Entertainment, and Yahoo Movies to sell
tickets.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/communication-services
Grand View Research has
segmented the global online movie ticketing services market on the basis of
platform and region:
Online Movie Ticketing Services Platform Outlook
(Revenue, USD Billion, 2012 - 2022)
·
Internet
·
Mobile
Online Movie Ticketing Services Regional Outlook
(Revenue, USD Billion, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Access Press Release of
Online Movie Ticketing Services Market@: www.grandviewresearch.com/press-release/global-online-movie-ticketing-services-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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