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Research Outline
Prepared for Justone B. | Delivered February 5, 2020
Live Ticketed Entertainment Market in the US
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Goals
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.
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Early Findings
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.
Audience Interest
The Stage Awards reported that
Guild of Misrule
immersive theater company noted that
40%
of its audiences were
new viewers/participants
.
According to Google Analytics,
interest
in immersive theater grew steadily from
2011 to 2018
.
The article reported that user search interest in immersive theater
peaked in 2017
.
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