The global secondary tickets market to grow at a CAGR of 12.92% during the period 2017-2021.
Global Secondary Tickets Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the following event types such as sporting events, live events, theaters, and movies.
One trend in the market is analyzing consumer behavior via mobile ticketing apps. Several types of global events are being launched every year. With a global audience, most of the event organizers are selling their tickets online. This gives the event organizers and ticket vendors an opportunity to track the behavior and purchase pattern of an individual.
According to the report, one driver in the market is growing affordability for high-priced tickets. In developing countries, the disposable income of people has increased and is in line with the economic growth. This has highly encouraged consumers to spend more on different kinds of leisure activities. Economic recovery worldwide, especially in the US, the UK, Germany, South Korea, China, and Singapore, is driving the global secondary tickets market. With better economic conditions, the income levels of consumers have increased. Therefore, spending on leisure activities has become affordable for a greater proportion of the population.
Further, the report states that one challenge in the market is live streaming of sporting events. Live streaming of sporting events is likely to pose a barrier in the revenue inflow of the overall tickets market. With the growth in the broadband infrastructure, channels telecasting sporting events online are increasing every year. In 2016, sporting events accounted for the highest revenue share of 55.17% in the overall market. However, with the growing number of viewers opting for live streaming, the tickets market has a high possibility to experience challenges in its revenue inflow in the long run.