Live Ticketed Entertainment Market in the US
To provide insights and case studies on the growth of immersive theater within the live ticket entertainment category. To determine the segment's growth in the past few years as well as estimated future growth.
Immersive Theater Growth
- The number of immersive theater shows has grown over 120% from 2011 to 2018 in Los Angeles.
- However, immersive theater's growth in other areas such as New York were not as high.
- Statistics show that immersive show companies are only producing an average of only 2 shows per year.
- 18 immersive theater companies announced their shutdown in 2018 alone.
- This mirrors the national average of 20% of small businesses in general failing in their first year.
- The Guardian reports that major immersive theater providers such as Punchdrunk and Hook & Hartshorn anticipate 'explosive growth' in 2020 alone.
Reasons for Growth
- EventBrite noted in 2016 that "Google searches for “immersive theater” have spiked in the past couple months, as new shows have been produced in more and more cities."
- According to the ticket provider, there are 5 major reasons why immersive theater is growing as a segment within the live ticketed entertainment category.
- First, audiences want to escape through an offline experience.
- Second, audiences enjoy interaction with new people including performers, speakers, and other guests.
- Third, audiences crave stimulation of their imagination through the storytelling experience.
- Fourth, immersive theaters offer an opportunity to explore non-traditional venues such as public parks, abandoned warehouses, basements or formerly inaccessible buildings.
- Fifth, audiences today are looking for stimulation and excitement beyond a passive perspective.
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