According to the latest report by IMARC Group, titled "Online Movie Ticketing Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and 2020-2025," the global online movie ticketing services market size reached US$ 17.2 Billion in 2019. Online movie ticketing service is the process of reserving seats and movie tickets through an online portal. It has become one of the most preferred modes of booking tickets, owing to the convenience associated with it. The users utilize a third-party website or application on their smartphones or laptops to check the availability of screenings and select the desired seats for their preferred movie show. It also offers numerous discounts and promotions, which allow users to acquire tickets at affordable prices. The payment of the same can be processed through an online portal or be paid later at the movie counter.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Online Movie Ticketing Services Market Trends:
The global market is primarily driven by the shifting preferences of the masses from conventional counter services to mobile- and web-based applications for availing various services, including booking movie tickets. These applications are relatively hassle-free and convenient as they provide faster payment options and attractive deals. Owing to the cost- and time-efficiency offered by these applications, they have gained rapid popularity among users with busy schedules and hectic lifestyles. Along with this, the increasing penetration of high-speed internet and broadband services, coupled with the widespread adoption of smartphones and personal computers on the global level, is providing a thrust to the market growth. Furthermore, several manufacturers are continually engaging in the development of improved and user-friendly mobile applications for movie ticketing services. They are now equipping the apps with innovative features, such as virtual view-from-seats options, in-seat food delivery and easy booking refunding, with the aim to improve customer experience. Some of the other factors contributing to the market growth include inflating disposable incomes of the masses, frequent movie releases and the increase in the number of luxury theatres with high-definition (HD) screens. On account of the aforementioned factors, the market is expected to reach a value of US$ 24.4 Billion by 2025, growing at a CAGR of around 6% during 2020-2025.
- On the basis of the device, the market is bifurcated into desktop and mobile devices.
- Based on the genre, the market has been classified into drama, adventure, comedy, thriller, suspense and horror, action, and other genres of movies.
- On the basis of the application, the market has been segmented into cinema, entertainment place, shopping malls and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Verizon Media (AOL Inc.), Atom Tickets, LLC, Bigtree Entertainment Private Limited (BookMyShow), Carnival Cinemas, Cinemark Holdings, Inc., Cineplex Entertainment LP, INOX Leisure Limited, Kyazoonga, MoviePass, Movietickets Inc. (Fandango Media, LLC), Mtime (Wanda), One97 Communications Ltd., PVR Limited, and Majid Al Futtaim Cinemas LLC (VOX Cinemas).
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