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.
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The significant growth in the box office revenue across the globe is further projected to propel the market growth over the forecast period. As per the Motion Pictures Association (MPA) in 2019, the total box office industry across the globe reached $42.2 billion, up to one percent from 2018. In 2019 the global box office industry was up 8% compared to the last five years. In Asia Pacific, the box office industry increased 4% as compared to 2018. In Europe and the Middle East and Africa the box office revenue increased by 2% and in Latin America, it increased by 3% in 2019 as compared to 2018.
Based on type, the global cinema tickets market is classified into digital and physical tickets. Among these, the physical tickets segment contributed to a larger revenue share of over 75% in 2020. A significant portion of conventional paper tickets used in the cinema industry supported the highest market share. Most of the theatres across the globe currently have printed movie ticket facilities for online booked tickets as well, mostly in emerging countries such as India, China, and others. This is expected to positively fuel the growth of the segment.
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Cinema Tickets Market Report Highlights:
• North America contributed to a revenue share of more than 25% in 2020. The strong and wide presence of the key players and long-standing demand for online movie tickets booking owing to high smartphone users contributed to the largest market share
• The digital tickets segment of the type is anticipated to register a CAGR of 25.3% from 2021 to 2028. A significant rise in smartphone users and growing digitalization in the cinema industry across the globe contributed to the growth of the market
Cinema Tickets Market Segmentation
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)
List of Key Players of Cinema Tickets Market
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About Million Insights
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