Secondary Ticket Market
Jul 07, 2021 12:49 UTC
Secondary Ticket Market 2021 : Top
Countries Data, Market Size, Defination,
Brief Analysis of Global Industry with
Forecast Growth By 2027
Global Secondary Ticket Market is valued at USD 5240.1 Million in 2020 and expected to reach USD 9702.8 Million by 2027 with a CAGR of 9.2% over the forecast period.
& Forecast Analysis, 2021-2027- Increasing growth of online secondary
ticketing platforms, rising popularity of sports events and use of blockchain for ticketing are the significant factors which are driving the growth of the Global Secondary Ticket Market.
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Scope of Global Secondary Ticket Market:
Secondary tickets are the tickets resold for the various events such as; concerts, theaters and sporting games. When customers buy tickets from a primary seller, this means they are original tickets and the price customers pay is set by the event provider and a secondary ticket market is where customer can buy tickets from brokers or other fans that can’t use their
tickets anymore. The secondary ticket prices fluctuates far more than primary ticket prices. Tickets often fall below face value but if primary tickets are underpriced or hard to get, secondary tickets prices can cost more than face value. In this, the tickets are bought from licensed sellers and are then sold for a price determined by the individual or company in possession of tickets. When the supply of tickets for a given event available through authorized tickets sellers is depleted, the event is considered “sold out”, generally
increasing the market value for any tickets on offer through secondary sellers. It is common for sport events, musical events, concerts etc. Secondary tickets give benefits to both customer or fans and seller of tickets. The websites are also available to resell of tickets. In 19th century, the term scalper was
applied to railroad ticket brokers who sold tickets in lower rate.
The secondary ticket market is divided into product types, application and region & country level. On the basis of product type, secondary ticket market is segmented into offline platform and online platform. On the basis of
application, market is divided into sports events, concerts, performing arts, movies and others.
The regions covered in this Secondary Ticket Market report are North
America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Secondary Ticket is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Globally Manufacturers such as TickPick, stubHub, Ticketmaster
Entertainment, RazorGator, Ace Ticket Worldwide, Alliance Tickets, Coast to Coast Tickets, Tickets.com, Gotickets. Com, Viagogo, Vivid Seats, TicketCity, TicketIQ, eBay Tickets, Ideabud Tickets and many others are contributing in the market growth.
News: Sounders FC Announced New Partnership with Ticketmaster, Marking Rave Green’s Return to the world’s Leading Ticketing Provider
December 18th, 2020; Seattle sounders FC announced that the club is partnering with Ticketmaster, making the company the club’s official ticketing partner beginning in 2021. Seattle's official main and resale ticketing platform, Ticketmaster, has replaced SeatGeek, reinstating a connection between the rave Green and the world's largest ticketing site. Sounder’s FC and Ticketmaster were partners from 2009. Sounders FC EVP and Chief Officer Bart Wiley said that they are thrilled to return to
Ticketmaster as Sounders FC’s official ticketing platform.
Increasing Growth of Online Secondary Ticketing Platforms, Rising Popularity of Sports Events and Use of Blockchain for Ticketing are the Significant Factors Driving the Market Growth
Increasing growth of online secondary ticketing platforms is one of the major factors driving the growth of secondary ticket market. For online booking of the tickets most of the customers use secondary ticket platforms. For
instance, according to news in Chicago Daily Law Bulletin 2019, the sport fans spent $14billion in 2019 on mobile tickets and they estimated that sports fans will spend $23 billion on mobile tickets by 2023. So the Increasing growth of online secondary ticketing platforms is fueling the growth of secondary ticket market. In addition, rising popularity of sports events is another major factor for the growth of secondary ticket market. For these sports events fans buy the tickets on secondary ticket platforms.
According to Association of Summer Olympic International Federations 2019, the sport sector has experienced strong growth and is estimated to be worth USD 169.4 billion by market value in 2019 which is 37% increase on the 2012 figure of USD 123.7 billion.
Furthermore, rising use of blockchain for ticketing is also supplementing the growth of secondary ticket market. For example; as per the International Journal of Engineering Science and Computing 2019, to solve the problems of ticket fraud, blockchain use in online ticketing system. This can store
refund in primary ticketing platform and increasing mobile apps &
technology are some other driving factors for the growth of secondary ticket market. However, rise in fraudulent activities may hamper the growth of secondary ticket market. In spite of that, rapid increase in digitalization can offer many opportunities in secondary ticket market.
North America is Anticipated to Dominate the Global Secondary Ticket Market
North America is expected to dominate the global secondary ticket market over the forecast period due to the rising frequency of sport events, presence of key players and early adoption of new technologies in this region. For instance; according to Sports tourism in Canada, 2019, Canada has a long history of hosting international sports events, including Olympics, Pan
American and Commonwealth Games and multitude of single and multi-sport world championships. Sports tourism is a $3.6 billion segment of Canada’s tourism industry and is fastest growing tourism segment. Increasing
frequency of sports events is promoting the secondary ticket market in North America. As per the news published on December 2020, New York-based ticket commercial centers TicketIQ and TickPick have united to work together on innovation and distribution.
Asia Pacific is expected to grow faster in global secondary ticket market due to increasing movie production and rising digitalization in this region. For instance; according to International journal of Innovative Technology and Exploring Engineering (IJITEE) 2019, in India nearly 20,000 movies hit the theatres every year, making India largest movie producer worldwide. As use of mobile apps and other digital technologies, customers prefer secondary ticket platform to avoid long time in queue and refund issues.
Key Benefits for Global Secondary Ticket Market Report–
• Global secondary ticket market report covers in-depth historical
and forecast analysis.
• Global secondary ticket market research report provides detail
information about market introduction, market summary, global market revenue (Revenue USD), market drivers, market restraints, market opportunities, competitive analysis, regional and country level.
• Global secondary ticket market report helps to identify
opportunities in marketplace.
of emerging trends and competitive landscape.
Global Secondary Ticket Market Segmentation:– By Product Type: • Offline Platform • Online Platform By Application: • Sports Events • Concerts • Performing Arts • Movies • Others
The COVID-19 outbreak has shown a negative impact on the growth of global secondary ticket market. The events like sports, movie, concerts, and musical events are completely postponed and cancelled due to lockdown conditions. Some sport events get started but these are in the absence of audiences.
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