Movies have for long been a steady source of entertainment for people of all ages. Before the popularity of the internet, people visited cinema theaters in advance to get tickets for the movie they like. The availability of tickets was always not certain. With most cinemas adapting the latest technology, online movie ticketing services have become the most common way to book movie tickets. These services can also be used to book tickets for other events and shows too these days.
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The growing number of online internet users and the number of smart phones used have both made online movie ticketing services easy and hassle-free. The increase in consumer purchasing power and the increase in the number of movies released every week also play a positive role in the growth of this market. The number of service providers who provide online ticketing has increased. However, the availability of theater like effects and the ability to stream new movies at home are both affecting the growth of this market negatively.
This global online movie ticketing services report gives a clear understanding of the market positioning at present and in the future. Based on a study by the Stratistics MRC Company, the value of this market in the year 2015 was USD 17.97 billion. This will grow to almost USD 46.66 billion in the year 2022. The CAGR growth between these years will be 14.6%. The growth of this market will depend on the trust that people have for online transactions.
In a recent press release given out in August 2019, BookMyShow, a popular online ticket booking company, talks about how it plans to expand into sporting event ticket bookings in the future with strategic partnerships with other businesses. This brand mentions it has sold tickets worth INR 350 crore in 2019.
Some of the key players in global Online Movie Ticketing Services market include AOL MovieFone, Inc. (US), BIG Cinemas (India), BookMyShow (India), Cinemark Holdings, Inc.(US), Cineplex Entertainment LP (Canada), Fandango, Inc. (US), Inox Leisure Limited (India), KyaZoonga (India), MovieTickets.com (US), VOX Cinemas (UAE), Bigtree Entertainment Pvt. Ltd., Ticket Please, and Moviefone Inc.
Digital screens and digital 3D screens are the two types of screens for which the online movie ticketing services provide online tickets. The growth in high definition 3D movies in the future will create a demand for these 3D screens. The common services that this industry provides are voice-based service, refund service, mobile app service, and e-ticketing service. The demand for each of these services by customers and the potential growth rate of each are investigated and results are published. The report also talks about the servicing capacity of both small and large scale vendors.
When it comes to 3D screens, both North America and Europe will capture a combined global market share of 40%, which is huge. The United States of America will remain the leading market for online ticket booking and digital cinema conversion. Through the forecasted periods, however, it is India that will show the most promising growth, with a growth rate of almost 25%. The high number of movies released in this country and the growth of online services are both factors that will cause this increase. Other countries in the Asia Pacific region will also show promising growth.
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