Research Support Specialist, USA
The global cinema tickets market size is estimated to reach at USD 16.04 Billion by 2028 and is expected to expand at a CAGR of 24.2% from 2021 to 2028, according to a new report by Million Insights. This can be credited to the significant growth in the cinema industry due to the rising revenue of box office across the globe. Moreover, the rising adoption of digital technologies and easy access to online ticketing platforms are the other factors that propel market growth. In addition, the rising smartphone users for online ticket booking and rise in disposable income are some other factors providing growth to the global cinema industry that further support the market growth.
The market experienced a significant downfall during the COVID-19 pandemic due to the shutdown of the cinema industry across the globe. The market is mainly obstructed due to speedily changing conditions which have forced the governments to impose bans on all the activities that comprise the social crowd. The first step taken by the governments of almost all the developed and emerging economies, which includes the U.S., China, India, the U.K., and Germany, was to shut down theaters, cinema halls, and multiplexes across the globe. The players operating in the cinema industry have been facing huge losses due to the postponing of release dates of the films or shooting of under-production films that further negatively impacted the market.
The digital tickets segment is forecast to register a significant CAGR of 25.3% from 2021 to 2028. Digital tickets refer to the QR technology-based access in the theatre through mobile and other digital devices. Increased use of the Internet and the growing trend of mobile applications for booking movie tickets online are projected to support the growth. Consumers across the globe have shown an inclination toward e-tickets to avoid crowds and standing in large queues, which further supports the growth of the segment.
North America contributed to a revenue share of more than 25% in 2020. The U.S. is positively contributing to the regional revenue growth. The presence of well-established cinema theater companies such as MC entertainment Inc. and Cinemark are driving the growth of the industry. The significant adoption of digital technologies in the U.S. and the highest consumer spending on cinema are the factors responsible for the largest revenue share. The significant growth in the box office revenue in the U.S. and Canada is projected to provide ample growth opportunities to the market. As per the Motion Pictures Association in the U.S. and Canada, the box office revenue increased by 2% in 2019 as compared to 2015.
The report “Cinema Tickets Market Size, Share & Trends Analysis Report By Type (Digital Tickets, Physical Tickets), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global cinema tickets market based on type and region:
Cinema Tickets Type Outlook (Revenue, USD Million, 2017 - 2028)
Cinema Tickets Regional Outlook (Revenue, USD Million, 2017 - 2028)