PUBLISHER: 360iResearch | PRODUCT CODE: 1471234
PUBLISHER: 360iResearch | PRODUCT CODE: 1471234
[197 Pages Report] The Secondary Tickets Market size was estimated at USD 41.48 billion in 2023 and expected to reach USD 44.98 billion in 2024, at a CAGR 8.66% to reach USD 74.21 billion by 2030.
Secondary tickets, in the context of events such as concerts, sports, theater, and other live entertainment, refer to tickets purchased not directly from the official event organizer or primary ticket outlet however from a third party or aftermarket. These transactions occur on platforms or marketplaces that enable the resale of tickets sold initially by the primary ticketing vendors. The secondary market allows individuals or entities to sell previously purchased tickets but can no longer use or wish to sell for profit. This market has experienced significant growth over the past decade, facilitated by the digital transformation. Online platforms have simplified buying and selling these tickets, making them more accessible to a broader audience. However, issues such as price inflation, where tickets are sold at remarkably higher prices than their face value, and the risk of fraudulent tickets pose consumer concerns. Despite these challenges, the secondary ticket market presents numerous opportunities. For sellers, it offers a chance to recoup investments on tickets they can no longer use, while buyers benefit from the availability of tickets to sold-out events or the option to select specific seats that were previously unavailable. Moreover, integrating advanced technologies such as blockchain and digital identification can further enhance the security and transparency of transactions, addressing some of the primary concerns associated with the market and offering significant potential for stakeholders within the entertainment and event industries.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 41.48 billion |
Estimated Year [2024] | USD 44.98 billion |
Forecast Year [2030] | USD 74.21 billion |
CAGR (%) | 8.66% |
Type: Burgeoning adoption of online platforms for secondary ticket sales
Offline ticket platforms in the secondary market refer to physical locations or traditional methods through which tickets are bought and sold after their initial release. These platforms include brick-and-mortar ticket resellers, physical ticket booths near event venues, and private transactions facilitated through physical meetups. This method often involves cash transactions, although electronic payments may occur in person. The critical characteristics of offline platforms include the potential for immediate physical possession of tickets, direct negotiation between buyer and seller, and a market that is less accessible to a broad audience compared to online platforms. Online platforms for secondary ticket sales are digital marketplaces and websites where individuals or entities can buy and sell tickets. These platforms can be accessed through desktop computers, laptops, tablets, or smartphones, facilitating a global reach for ticket transactions. Examples include specialized ticket resale websites, online classified advertisements, social media marketplace groups, and auction sites. The advantages of online platforms include a wider audience for sellers, the ability for buyers to search for and compare prices easily, and enhanced security features such as payment processing, digital ticket transfer, and buyer protection policies. Additionally, these platforms often provide reviews and ratings of sellers, contributing to a more transparent marketplace.
Application: Evolving utilization of Secondary tickets for concert ticket purchase
Secondary tickets for concerts enable fans to purchase tickets to performances that might have been sold out through the primary market, allowing access even after initial sales have ended. This market is particularly popular for highly anticipated concerts featuring renowned artists, where ticket demand often surpasses the available supply. Buyers should be aware of the fluctuations in pricing, which can significantly vary based on demand, artist popularity, and proximity to the event date. The secondary market for movie tickets is less prevalent than other categories, primarily due to the nature of movie screenings, which are available over several weeks and at numerous venues, reducing scarcity. However, there may be exceptions for premieres, special screenings, or film festivals where tickets might be in high demand and limited availability. In these instances, secondary tickets offer an alternative for enthusiasts to gain access. Performing Arts includes various events such as theater productions, ballets, and operas. Tickets for highly acclaimed productions, especially those in well-known venues or limited engagement tours, often find their way into the secondary market. Prices vary based on the show's popularity, the venue's prestige, and seat location. Secondary tickets allow enthusiasts to access sold-out performances or secure preferable seating arrangements. The secondary ticket market significantly benefits sports events, particularly high-stakes games or championships.
Regional Insights
Americas holds a significant portion of the global secondary ticket market, driven by a robust entertainment industry and a high demand for sports, concerts, and other live events. Consumers in the U.S. increasingly turn to online platforms and mobile apps for ticket resales due to convenience, though concerns regarding pricing transparency and authenticity remain. Recent initiatives focus on leveraging blockchain and other technologies to enhance transaction security and trust. The government across America has taken steps to regulate the market, aiming to protect consumers from exorbitant prices and ensure fairness in ticket resales. In the European Union, the secondary ticket market varies by country but is generally guided by EU-wide regulations focusing on consumer protection. There is a rising trend towards adopting digital tickets and mobile applications, though the market is still fragmented, with various national laws impacting consumer behavior. The Middle East shows potential for growth, particularly in the UAE and Saudi Arabia, driven by increasing investments in entertainment and sports infrastructure. Consumers here show a preference for luxury and exclusive experiences. Africa's secondary ticket market shows promise due to the increasing penetration of smartphones and internet penetration. The Asia Pacific secondary ticket market is rapidly expanding, fueled by a burgeoning middle class and increasing disposable incomes. The highly digital market has a strong presence in domestic online platforms. Recent regulations aim to crack down on counterfeit tickets and price gouging.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Secondary Tickets Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Secondary Tickets Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Secondary Tickets Market, highlighting leading vendors and their innovative profiles. These include Ace Ticket Worldwide, Inc., AXS Group LLC, Citizen Ticket Ltd., Coast To Coast Tickets LLC, CTS Eventim AG & Co. KGaA, Eventbrite, Inc., Eventfrog AG, FEVER LABS, INC., Gametime United, Inc., LIVE NATION WORLDWIDE, INC., Lyte, Inc., PIA Corporation, RSVPify, LLC, ScoreBig, SeatGeek, Inc., SEE Group Limited, Ticket Software LLC, Ticket Transfer, TicketIQ, LLC, Ticketmaster, TicketSmarter, TicketSwap B.V., TickPick LLC, Twickets Ltd., Viagogo AG, and Vivid Seats LLC.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Secondary Tickets Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Secondary Tickets Market?
3. What are the technology trends and regulatory frameworks in the Secondary Tickets Market?
4. What is the market share of the leading vendors in the Secondary Tickets Market?
5. Which modes and strategic moves are suitable for entering the Secondary Tickets Market?