Live Ticketed Entertainment Market in the US
To provide a market analysis of the live ticketed entertainment market, including historical, current, and predicted market shares/revenues of individual event types (i.e. music, sports, and/or theater), trends in live entertainment, and areas/methods for potential investment in the industry.
- The US ticketing market size was estimated to be $10.5 billion in 2019.
- The industry has grown at a rate of 8.5% per year since 2010 and is predicted to keep growing as Gen Z and Millennials are the driving force behind this growth.
- The global industry is expected to grow at a CAGR of 4.3% until 2025.
- The ticketing industry is heavily dominated by sales from music concerts (49%), sporting events (21.2%), and theaters (19%).
- This means that the revenue of live ticketing generated by theaters amounted to roughly $2 billion in 2019 (0.19 * $10.5 billion).
- The market is, however, very segmented, with the two leaders, Ticketmaster and Livenation, taking only 8% of the total market share. This means that there are a lot of opportunities for innovative start-ups with good ideas to take a larger market share.
- Since most of the tickets are now sold online, ticket vendors are pushing for the introduction of user-friendly apps that can provide easier access to tickets.
- Experts are expecting that in the next few years, there will be a big shift towards mobile ticket sales.
- Blockchain is also expected to have an impact on the market, as more and more players in the industry have looked to develop solutions that use the technology.
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