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Sports Events Tickets Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global sports events tickets market was valued at USD 19.7 billion in 2022 and is projected to expand at a CAGR of 10.2% from 2023 to 2030. The rise in the number of sports events across the globe is the major driver of the market. For instance, in 2021, the Tokyo 2020 Summer Olympics was held, which was the first international sports event held since the COVID-19 pandemic began. This event was attended by 11,000 athletes from 33 countries, and it was a major success. Furthermore, the popularity of major sports events such as the UEFA Champions League and the FIFA World Cup is driving the demand for tickets globally.
The increasing adoption of digital technology is transforming the way sports events tickets are being bought and sold. The introduction of e-tickets, which are digital tickets stored on a mobile device, is gaining traction and is expected to fuel the growth of the market. For instance, in July 2021, the O2 Arena in London announced the launch of an app-based ticketing system for its events. This system is expected to provide a secure and seamless experience for customers by eliminating the need for printing tickets. Additionally, the app-based ticketing system is expected to reduce the hassle of waiting in long lines to purchase tickets.
Furthermore, the rising trend of ‘cashless’ payments is driving the market growth. Increasingly, sports events are offering the option of cashless payments for tickets. This helps to speed up the process of ticket purchase and provides a secure and convenient experience to customers. For instance, in 2021, the UEFA Champions League introduced the cashless payment system for tickets, which allowed customers to securely pay for tickets using a debit or credit card.
The increasing number of partnerships between sports teams and ticket vendors is also expected to drive the market growth. For instance, in August 2021, the US-based ticketing company AXS announced a partnership with the National Basketball Association (NBA) to provide ticketing services for all 30 NBA teams. This partnership is expected to help the NBA reach a wider audience and increase the demand for tickets.
The rising trend of online ticketing is also expected to drive market growth. The emergence of ticketing platforms such as Ticketmaster and StubHub is expected to boost the demand for tickets, as these platforms enable customers to purchase tickets from anywhere and at any time. Furthermore, the launch of new features such as dynamic pricing, which allows customers to purchase tickets at prices that are suitable for their budget, is expected to further boost the demand for tickets.
Product Insights
The sports events tickets segment accounted for the largest share of the market in 2022. Increasing media exposure and online streaming of sports events, has increased the popularity of sports among the people, along with the adoption of digital ticketing technology for sports events. According to an article published by Ticketmaster, in January 2020, the global market for sports event tickets was estimated to be around $30 billion in 2019. The increasing demand for tickets for sports events has been attributed to the growing trend of e-commerce and the increasing availability of tickets through online platforms.
The gaming tickets segment is projected to expand at the fastest CAGR of 9.2% over the forecast period. Online gaming has increased in popularity over the years, with the increasing adoption of digital platforms. According to an article published by Statista, in January 2020, the number of gaming users worldwide was estimated to be around 2.5 billion. The increasing demand for gaming tickets is attributed to the increasing number of gaming users, along with the increasing availability of gaming tickets through online platforms.
Distribution Channel Insights
The ticketing websites segment accounted for the highest share of overall market revenue in 2021. The growth of the segment is mainly driven by the rising popularity of online ticket booking platforms among sports fans. According to a survey conducted by Statista in 2020, over 74% of sports fans prefer to purchase tickets for sports events through online ticketing websites. The convenience of online ticketing websites and ease of access to information regarding events, along with discounts and offers, has made it the preferred choice among consumers.
The box office segment is anticipated to expand at a CAGR of 5.2% over the forecast period. The traditional box office ticketing system is still the preferred choice for fans who want to experience the excitement of getting tickets in person. The box office segment is witnessing a surge in demand as the fans are showing more interest in attending the physical sports events in person. In addition, the box office segment is witnessing an increase in demand due to the rising number of sports events and leagues worldwide.
Type Insights
The primary tickets segment accounted for the largest revenue share of 56.9% in the year 2022. The increasing demand for tickets for weekend games, music concerts, and family entertainment is driving the growth of the primary tickets segment. Furthermore, the introduction of digital ticketing platforms such as Ticketmaster and Eventbrite has made ticket booking easier and more convenient. The use of digital ticketing platforms eliminates the need for physical tickets and makes the process of ticket booking easier and faster.
The secondary tickets segment is anticipated to expand at the highest CAGR of 7.5% over the forecast period. The increasing trend of reselling the tickets to sports events, music concerts, and other events is leading to a rise in the demand for the secondary tickets segment. Furthermore, the increasing use of online platforms for the sale and purchase of tickets is expected to fuel the demand for secondary tickets in the forecasted period.
Regional Insights
North America dominated the market and accounted for the largest revenue share of over 35.4% in 2022. This is mainly attributed to the presence of well-established players, such as Ticketmaster, who offer comprehensive ticketing services to sports and music fans. Moreover, the increasing preference of consumers for online ticketing services is also driving the market in the region. For instance, in December 2021, Ticketmaster launched its mobile ticketing application, which allows customers to purchase, manage, and transfer tickets on their mobile devices.
Europe is expected to witness considerable growth in the coming years. This is mainly due to the presence of some of the most popular sports leagues, such as the English Premier League, the German Bundesliga, and the Spanish La Liga, among others. Moreover, the increasing demand for ticketing services among sports fans is also expected to drive the market in the region. For instance, in April 2022, Ticketmaster launched its partnership with AS Roma, allowing the Italian Serie A club to raise ticket revenues and offer its fans a seamless ticketing experience.
Financial Projections
In this part of the sports events tickets business plan, we will provide a detailed breakdown of all revenue and expense categories of the business. These forecasts include cash flow projections and capital requirements for your sports events tickets products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a sports events tickets business comes from ticket sales, advertising, sponsorships, and merchandise. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, food & beverage, the sale of merchandise, and leasing the place for parties and corporate events.
Projecting Expenses
In this section, all the regular expenses related to keeping the sports events tickets business running will be described. The list of operating expenses includes wages, marketing, event production, fees and taxes, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the sports events tickets market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Ticketmaster launched its new mobile platform that enables consumers to purchase tickets on the go.
– In August 2022, StubHub launched a mobile app that enables customers to easily find, compare, and purchase tickets for sports events.
– In October 2022, AXS launched its new ticketing platform that integrates ticketing, analytics, and event management tools.
Some of the prominent players in the sports events tickets market include:
– Ticketmaster
– StubHub
– AXS
– Live Nation Entertainment
– See Tickets
– Eventbrite
– TicketWeb
– Ticketfly
– TicketCity
– Intix
Global Sports Events Tickets Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global sports events tickets products market based on product type, distribution channel, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Football
– Basketball
– Hockey
– Other Sports
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Offline
– Box Office
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Sports Events Tickets Product Innovation?
[A]: Product innovation is a key factor in driving market growth. Technological advancements in ticketing have made it easier for event organizers to offer digital tickets that make it easier for consumers to access tickets and track their purchases. Furthermore, the use of blockchain technology has allowed for improved transparency, allowing customers to track the ticket’s origin and authenticity.
[Q]: Who are the Key Players in the Sports Events Tickets Market?
[A]: Some of the major players in the global sports events tickets market include Ticketmaster, AXS, StubHub, SeatGeek, and TicketTailor.
[Q]: Which Region Offers the Largest Opportunity for Sales of Sports Events Tickets?
[A]: North America is expected to be the most lucrative region for the global sports events tickets market due to the presence of an established organized ticketing system and increasing demand for sporting events tickets.
[Q]: What are the factors driving the sports events tickets market?
[A]: Increasing disposable income, growing popularity of sports, and the rise of digital ticketing platforms are some of the key factors driving the global sports events tickets market. Additionally, the increasing adoption of mobile ticketing platforms and the availability of discounts, coupons and promotional offers are also expected to fuel market growth over the forecast period.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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