Online Movie Ticketing Services Market Growth & Trends
The global online movie ticketing services market size is estimated to reach USD 39,379.7 million by 2030, registering a CAGR of 8.5% from 2023 to 2030, as per a new report by Grand View Research, Inc. The growth can be attributed to the increasing consumer expenditure on leisure activities, driven by rising disposable income and the availability of convenient online platforms for transactions. Ongoing initiatives by major industry players to provide user-friendly website interfaces and mobile applications also favor the growth of the market for online movie ticketing services.
Market players are introducing innovative features to movie ticketing services and collaborating with e-commerce companies to offer their services on various platforms. In August 2022, Amazon India partnered with BookMyShow, a leading entertainment platform by BigTree Entertainment Pvt. Ltd., to allow customers to book tickets through the former’s e-commerce platform. Additionally, Amazon India users will gain access to the content on BookMyShow, such as synopsis, posters, ratings, movie reviews, etc. They will also receive various attractive offers and discounts as part of this initiative.
The growth of the market for online movie ticketing services is largely driven by the strategic initiatives of major players. In November 2022, AMC Theatres signed an innovative partnership with Zoom Video Communications, Inc. to convert some AMC locations into Zoom Rooms across the U.S. This initiative brings together the excellent experience offered by the latter through state-of-the-art sound and sight technology of AMC Theatre’s centrally located and modern theatres.
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Online Movie Ticketing Services Market Report Highlights
In terms of platform, the mobile segment is expected to record a CAGR of 11.5% over the forecast period, owing to the increasing adoption of smartphones and utilization of mobile applications to conduct online transactions
Asia Pacific is projected to expand at a CAGR of 9.2% over the forecast period, aided by the rising disposable incomes in emerging economies, coupled with increasing consumer expenditure on leisure activities in the region
The online movie ticketing services industry is witnessing growth at a CAGR of 8.5% owing to the rise in disposable income of the population, increasing penetration of internet and broadband services worldwide along with an increasing focus on paperless transaction.
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