Online Movie Ticketing Services: A Global Strategic Business Report
San Jose, CA (Vocus/PRWEB) April 06, 2011
Consumers remain enamored with cinema even as they incorporate new forms of entertainment into their consumption patterns. Worldwide cinema industry has experienced drastic growth over the past decade both in terms of box office revenues and admissions. In spite of frugal economic scenario, worldwide movie ticket sales reached $32 billion in 2010, up from nearly $30 billion recorded in the year 2009. Patrons have also witnessed dramatic changes in the form of expansion of theaters chains, creation of multiplexes and megaplexes that accommodate more screens. The box office growth has been mainly fuelled by the rollout of 3D screens, as theater owners charge more for a 3D film, thereby increasing overall box office revenues. Also, more movies are being released now than ever before, giving consumers greater choices and reasons for frequent viewing. Movie theaters are no longer restricted to a place to sit and watch a movie, and have evolved in function to become a complete entertainment center for consumers. The increasing adoption of a digitally based lifestyle by majority of consumers, created a new genre of audience called 'net generation' that will pump plenty of demand into online and mobile ticketing formats. And the rise of alternative delivery channels, will indisputably ensure that movie watching remain a phenomenally popular entertainment option for the consumers for years to come.
Today, online movie booking has become an international trend driven by the fact that more people globally are increasingly familiar with booking their movie tickets online. The online movie ticketing services market has, over the years, revolutionized the concept of traditional ticketing booking, and has today entwined itself with modern culture, influencing ticket purchasing habits of consumers. Movies are widespread across the globe, and hands-on access to movie and showtime info, closest theater locations and direction, and purchase of tickets that allow on-the-go movie planning make online channel more exciting. Several theaters worldwide have made available the whole block of their inventory of theater seats to online merchants such as MovieTickets.com, Fandango, and Moviefone, while few others presently reserve some tickets for walk-up customers at the box office. Rising penetration of broadband combined with wireless phones with online capabilities, have groomed the modern online movie ticketing industry into a multi-billion dollar market.
Despite the dampener cast by the economic recession, cinema was less affected by the financial market conditions because it is one of the cheapest forms of out-of-home entertainment option. Also, the value offered by entertainment during weak economic times is typically higher, since people tend to seek out diversion as an option to ease the pressures of an increasingly tough economy on their lives. The willingness of regular and loyal moviebuffs to watch new movie releases even in the teeth of recession, fuelled the fortunes of movie ticket industry, giving it a better chance of success than any other business relying on discretionary spending vulnerable to the recession. The year 2009 has already been ranked as a successful year for movie industry, with a great selection of movies, appealing to mass audiences. Some of this success can also be attributed to the new experiences offered by a launch of spectacular 3D films.
Online booking is a predominant trend for acquiring movie tickets in the US and Europe. As stated by the new market research report, United States and Europe account for a major share of the global Online movie ticketing services market. While online sales for movie tickets are increasing, they are yet pretty minimal in comparison to the standard walk-up box office, so online market has plenty of room for growth in the next five years, and much of that growth will come from beyond the developed nations where the number of home PC penetration, Internet cafes, and Internet usage are all on the rise. While Europe, and the US have long dominated the online movie ticketing services market, Asia-Pacific has been turbo-charging global growth in recent years, primarily due to factors such as strong economic growth and prosperity, shift towards Western oriented lifestyles, rising broadband penetration, and launch of swanky multiplexes, among others.
Major players in the global marketplace include AOL MovieFone Inc, BIG Cinemas, BookMyShow, Cinemark Holdings Inc, Cineplex Entertainment LP, CineStar Cinemas, Fandango Inc, Inox Leisure Limited, KyaZoonga, MovieTickets.com, among others.
The research report titled “Online Movie Ticketing Services: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The single-segment report provides market estimates and projections (in US$ Millions) for major geographic markets including the United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Online_Movie_Ticketing_Services_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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