2023 Online Event Ticketing Industry Report

The global online event ticketing market was valued at $27.6 billion in 2022 and projects to reach $40.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.8%.

The online event ticketing industry comprises several global and regional players contending for sales in a reasonably competitive market. The space has moderately high entry barriers, yet several new entrants are managing to gain traction, with the number of online event ticket sellers steadily increasing.

During the COVID-19 pandemic, movie attendance and the number of films released plummeted, financially imperiling movie theaters and studios. This forced them to seek out new ways to reach people at home to grow revenue, including the emergence of premium video-on-demand. In addition, it shortened the window for films to be available for home video to 17 days.

Ticketing companies also focused on streamlining their internal and external processes during this time by tapping into ticketing data. For example, sports teams have become more open to exploring the idea of new revenue streams through omnichannel experiences for consumers.

Industry Segmentation

Online event ticketing has become more prevalent in recent years. This growth is primarily thanks to the millennial population. The industry is segmented into music events, movies, sports events, and other applications that are mostly booked through online event ticketing services.

The sports segment is a significant revenue contributor in the global market. As sports viewing increases, online ticketing sales for sporting events increase. The most popular sports leagues are the National Football League (NFL), the FIFA World Cup, the Olympics Games, the ICC Cricket World Cup, and the Premier League (PL). Growth in the sports segment expects to grow at 5.3% CAGR for the next 8-year period.

Movie tickets purchased through online platforms are expected to continue to multiply. If a film expects to sell out amid rising popularity, moviegoers are likelier to buy tickets online than at a kiosk or box office. As a result, the movie segment forecasts a 4.5% CAGR to reach $16.7 billion by the end of 2030.

Growth Drivers

Major factors fueling the growth of the online event ticketing sector to book movies and live event tickets online include the increased use of mobile apps and high Internet penetration. Mobile interfaces have become more user-friendly, resulting in the easier and faster booking of tickets. The popularity of paperless digital transactions and banking institutions' embrace of online platforms has also supported growth in the market through e-tickets issued through email or text. Many service providers also offer loyalty programs to subscribers through mobile platforms to keep them enticed to return for more in the future. The growing popularity of online booking for movies and sports events will continue to drive market growth in the coming years.

The music events segment accounts for a large share of the online event ticketing market. This includes sales for all music-related events, such as concerts, musicals, music shows, festivals, and operas. Ticketmaster has reported that music accounts for about 80% of their gross transacted value growth in recent years. Concerts are the primary source of income for online ticketing providers.

By Region

North America has the highest share due to higher per capita income and increased Internet penetration in the United States and Canada. And, because Hollywood is well known for entertainment in the U.S., there is a higher market demand for convenient ticket-purchasing options. As a result, the online event ticketing market in the U.S. was valued at $7.5 billion in 2022.

The Asia-Pacific region expects to see the fastest growth. This is due to rising disposable incomes, higher smartphone use, expanding Internet access, and urbanization. Also, customers in this region are willing to pay Internet handling fees to skip long lines. According to the China Film Administration, the number of movie screens in China surged from 75,581 in 2020 to 82,248 in 2021 to become the most globally. The region's high level of technological breakthroughs is helping to drive market demand. The market size in China forecasts to reach $8.6 billion by the year 2030.

Americas: Sam Smoot at +1 (813) 898 2350 / Smoot@BenchmarkIntl.com

Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com

Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com

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