Secondary Ticket Market is Expected to Reach US$ 2792.5 million by 2027

Increasing consumer disposable income and rising spending on entertainment are the major drivers for the secondary ticket market. The Global Secondary Ticket Market was valued at US$ 1510.5 million in 2020, and it is expected to reach US$ 2792.5 million by 2027, with a CAGR of 9.3%, during the forecast period.

Secondary Ticket Market is a marketplace where buyers and sellers resell the tickets through legal or illegal methods. Over the last few years, the global secondary ticket market has gone through some unprecedented changes. The major factor driving the market are increasing disposable income and expenditure on entertainment. Factors such as growth in an economy, improving the standard of living, and changing consumer’s lifestyles are also fuelling the growth of the secondary markets in developing countries.

However, the secondary ticket market is also showing growth because of the increasing popularity of sports events, concerts performing, arts and movies. The growing passion for the events like ICC Cricket World Cup, Olympic games, Super Bowl, FIFA World Cup, IPL, and many more has resulted in an increase for overall ticket sales. In addition, the promotion of these events has helped in triggering market growth. With the growing number of events, many secondary ticket vending companies are emerging all across the globe. Many additional benefits such as loyalty offers, rewards programs, discounts, and curated sports packages offered on these platforms are attracting customers and hence, boosting the market’s growth.

The penetration of internet and smart-phones in developing regions are also driving the market growth of global secondary ticket market. With the creation of online ticket resale marketplaces, brokers and fans are now better connected. The use of laptops, tablets, and smartphones has made convenient for both buyers and sellers. The buyers now find it flexible and user-friendly to book tickets, whereas sellers can now analyse the behaviour of customers using mobile ticketing apps.

Key Findings:

• Based on platform, online platform has shown tremendous growth trend and is expected to show similar trends during the forecast period.
• Based on event types, sporting events is expected to grow with a high growth rate during the forecast period
• Based on Regions, the North America region is dominating the global Secondary Ticket market in the year 2020

Recent News:

• June 2019, Ticketmaster, leading online ticket sales and distribution company, has announced its strategic partnership with Spotify, a popular audio streaming and media service provider for driving customer engagement and transactions. The Ticketmaster-Spotify partnership works like this: when you are listening to your favourite artist on Spotify when you're presented with a button to press to buy concert tickets for that artist when he or she is in your area. Within Spotify, the Ticketmaster page pops up and you can easily buy your tickets to go see your favourite singer all within the same app.
• May 2019, Vivid Seats, the leading ticket marketplace in North America has its collaboration with iconic music brand Rolling Stone. This deal will include live events as well as digital content and it will make Vivid Seats the official ticketing partner of Rolling Stone.
• June 2021, SeatGeek, a mobile focused ticket platform, has announced its collaboration with the parking app Arrive. This partnership will allow ticket holders to find, book and pay for a parking space in advance. This would help fans avoid traffic and reduce the time spent searching for a parking space.
• Feb 2020, Viagogo, leading online ticket sales and distribution company has announced that it has successfully acquired the StubHub from eBay for $4.05 Billion. The two complimentary companies will form a Global Live Experiences Marketplace and intends to sell thousands of tickets everyday across more than seventy countries, giving fans seamless access to a wider selection of event tickets worldwide, while sellers, teams and artists will have the ability to reach new audiences. This provides a huge opportunity to consumers, who will have access to more competitive pricing and broader offerings
• March 2018, TicketCity, one of the largest privately held ticketing company in the world has announced its strategic partnership with Booking.com. This New partnership will offer the event-goers with more convenience and ease to plan travel accommodations through a single platform.