The U.S. online ticketing market size is anticipated to reach USD 6.23 billion by 2025 due to increasing penetration of smartphones and rising disposable income levels. In addition, growing number of Internet users in the country is likely to have a positive impact on market growth over the next few years.
Rapidly growing entertainment and sports industries in the country is bolstering the U.S. online ticketing market. Furthermore, the industry is projected to benefit from decline in offline modes of shopping and booking tickets. Shifting consumer preference from offline to online methods, due to various benefits such as time and cost saving, is also contributing toward market development.
Growing interest of investors in mobile application development for improved consumer experience and convenience is likely to provide many opportunities for the U.S. online ticketing market. Increased usage of social media platforms is also projected to spur market development as these platforms enable ticket booking process using integrated ticket system, making online shopping more convenient and easier. This scenario is expected to boost market growth in U.S.
The online ticketing industry is projected to expand at a healthy CAGR owing to major shift from paper tickets to online ticketing options. The industry is segregated into three main categories comprising of music concerts and events, sports events, and others. The others segment, which consists of movies and other recreational activities, led the overall market owing to rapid growth in the entertainment sector.
Online ticketing platforms offer users detailed information about locations, most suitable prices, and availability of seats without any inconvenience. Due to all these advantages, more people are opting for online ticketing systems, which, in turn, drives growth. Availability of digital payment options is also playing a crucial role in market expansion.
Some of the prominent companies operating in the U.S. online ticketing market are Ticketmaster Entertainment, Inc.; Live Nation Worldwide, Inc.; StubHub; MovieTickets.com, LLC.; and Razorgator. These companies are concentrating on various marketing strategies, e.g. offering additional services, in order to improve sales. For instance, Movietickets.com allows its customers to discover nearby movie theaters. Live Nation not only provides online ticketing options but also provides time and venue details for approaching events organized across the globe.
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Hexa Research has segmented the U.S. online ticketing market report based on types
Segmentation by type, 2014 - 2025 (USD Billion)
• Music Concerts and Events
• Sports Events
Key players analyzed
• Live Nation Worldwide, Inc.
• MovieTickets.com, LLC.