Global Secondary Ticket Market 2024–2033

Reports Description

As per the current market research conducted by the CMI Team, the global Secondary Ticket Market is expected to record a CAGR of 7.8% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 3,387.7 Million. By 2033, the valuation is anticipated to reach USD 6,660.1 Million.

The secondary ticket market refers to the buying and selling event tickets through channels other than the primary ticket issuer, such as official box offices or authorized agents. In this market, individuals or ticket brokers resell tickets they previously purchased from the primary market. Secondary ticket platforms facilitate these transactions, connecting sellers with buyers seeking tickets for sold-out or in-demand events.

Prices in the secondary market may fluctuate based on event popularity, ticket availability, and market demand. This market provides opportunities for consumers to access tickets for desired events after they have sold out through primary channels.

Secondary Ticket Market – Significant Growth Factors

The Secondary Ticket Market presents significant growth opportunities due to several factors:

• Limited Availability of Primary Tickets: Scarcity of tickets through primary channels due to high demand or limited supply drives consumers to the secondary market to secure tickets for popular events.

• Event Popularity and Demand: High-profile events such as major sports games, concerts, and theater shows generate significant demand in the secondary market, influencing ticket prices and driving transactions.

• Advancements in Technology: Innovations in online ticketing platforms and mobile apps make it easier for buyers and sellers to participate in the secondary ticket market, enhancing accessibility and convenience.

• Dynamic Pricing Strategies: Implementing dynamic pricing algorithms allows sellers to adjust ticket prices based on real-time market conditions, optimizing revenue and offering buyers a range of pricing options.

• Expansion into New Markets: There are opportunities for secondary ticket platforms to expand their presence into new geographic regions or event categories, tapping into underserved markets and diversifying revenue streams.

• Partnerships with Event Organizers: Collaborating with event organizers to become the official resale platform or offering value-added services can create opportunities for secondary ticket platforms to enhance their market position and attract a wider customer base.

Secondary Ticket Market – Mergers and Acquisitions

The Secondary Ticket Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Secondary Ticket Market include:

• In 2022, The EU’s provisional agreement on the Digital Services Act, aiming to regulate online platforms including ticket resale, is applauded by the European Alliance for Ticketing. These regulations aim to curb abuses in ticket resale, ensuring a safer and fairer online environment.

• In 2023, Seat Unique secured EUR 7 million (USD 9 million) in its series A funding round, following EUR 30 million (USD 32.6 million) in ticket sales. With 40+ UK venue collaborations, the platform offers VIP access to sports events like The Ashes 2023, Premier League, Formula 1, and Wimbledon, expanding into new sectors and markets.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Secondary Ticket Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Secondary Ticket Market – Significant Threats

The Secondary Ticket Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Legislative and Regulatory Challenges: Government regulations and legislation aimed at curbing ticket scalping and ensuring consumer protection can restrict the operations of secondary ticket platforms, impacting their profitability and market reach.

• Counterfeit and Fraudulent Tickets: The proliferation of counterfeit tickets and fraudulent activities poses a significant threat to the reputation and credibility of secondary ticket platforms, eroding consumer trust and confidence in the market.

• Competition from Primary Market Resellers: Increased competition from primary market resellers offering resale options directly to consumers can undermine the market share and profitability of dedicated secondary ticket platforms.

• Event Cancellations and Changes: Unexpected event cancellations, rescheduling, or lineup changes can lead to ticket refunds or disputes in the secondary market, resulting in financial losses and reputational damage for sellers and platforms.

• Price Gouging and Scalping Practices: Price gouging by sellers and scalpers, especially during high-demand events, can alienate consumers and prompt regulatory intervention, leading to stricter controls and regulations on secondary ticket sales.

• Technological Vulnerabilities: Cybersecurity threats, data breaches, and technological vulnerabilities in secondary ticket platforms can compromise user data and financial information, damaging consumer trust and causing reputational harm to the platforms.

Category-Wise Insights:

By Event Type

• Sports: In the secondary ticket market for sports events, enthusiasts buy and sell tickets for various games and matches. Trends include high demand for major sporting events like the Super Bowl or FIFA World Cup, dynamic pricing based on team performance, and the rise of mobile ticketing solutions for easier access.

• Music: The secondary ticket market for music concerts involves the resale of tickets for live performances by artists across genres. Trends include strong demand for popular artists and festivals, fluctuations in ticket prices based on tour popularity, and the emergence of fan-to-fan ticket exchanges through online platforms.

• Movies: In the secondary ticket market for movies, enthusiasts trade tickets for film premieres, special screenings, and exclusive events. Trends include limited availability for highly anticipated movie releases, premium pricing for VIP experiences like red carpet events, and the growth of online platforms offering last-minute deals and discounted tickets.

• Others: The “Others” category in the secondary ticket market encompasses various events such as theater shows, comedy performances, festivals, and cultural events. Trends include niche markets for specific event types, dynamic pricing strategies to reflect demand fluctuations and the increasing popularity of online resale platforms catering to diverse entertainment preferences.

By Location

• Local Events: Local events refer to gatherings or performances taking place within a specific city or region. In the secondary ticket market, local events often include small-scale concerts, community festivals, and regional sports games. Trends indicate a growing demand for local event tickets, driven by increased interest in supporting local artists and cultural activities, as well as the rise of hyper-localized marketing efforts by secondary ticket platforms.

• National Events: National events encompass larger-scale gatherings or competitions that occur across an entire country. In the secondary ticket market, national events may include major sports championships, music festivals, and touring theater productions. Trends show a steady demand for tickets to national events, driven by a desire for shared experiences and cultural milestones. Secondary ticket platforms capitalize on this trend by offering a wide range of ticket options and leveraging national advertising campaigns.

• International Events: International events span across multiple countries or continents and attract attendees from around the globe. In the secondary ticket market, international events often include international sports tournaments, global music tours, and prestigious cultural festivals. Trends indicate a growing interest in attending international events, fueled by globalization and the ease of travel. Secondary ticket platforms cater to this demand by offering ticket packages, travel bundles, and multilingual customer support to facilitate international ticket sales.

By Ticket Type

• General Admission: In the secondary ticket market, general admission tickets offer entry without assigned seats, allowing attendees to choose their location within a designated area. Trends show increased demand for general admission tickets to festivals, concerts, and sporting events, driven by the appeal of flexibility and freedom to move around. Scalpers often target these tickets due to their popularity, leading to fluctuating prices based on event popularity and availability.

• Reserved Seating: Reserved seating tickets in the secondary market offer specific seats assigned to attendees, commonly for theaters, arenas, and stadiums. Trends indicate consistent demand for reserved seating tickets for high-profile events such as Broadway shows and major sporting events. Prices may vary depending on seat location, event prestige, and seller reputation, with premium seats commanding higher prices in the secondary market.

• VIP lounges and tickets provide exclusive access and enhanced amenities, such as premium seating, VIP lounges, and meet-and-greet opportunities. In the secondary ticket market, trends show a growing demand for VIP tickets across various events, including concerts, galas, and sporting events. VIP ticket prices tend to be significantly higher than regular tickets, reflecting the added value and exclusivity they offer, making them a lucrative segment for sellers in the secondary market.

By Gender

• Male: In the secondary ticket market, males often exhibit preferences for sports events, concerts, and theater shows featuring their favorite teams or artists. Trends indicate a willingness among males to pay premium prices for exclusive experiences, such as VIP seating or meet-and-greet packages. Additionally, males may engage more frequently in reselling tickets for profit, leveraging their knowledge of market demand to capitalize on high-demand events.

• Female: Females in the secondary ticket market often seek tickets for cultural events, music concerts, and theater performances that align with their interests and preferences. Trends suggest a preference for events offering immersive experiences or opportunities for socializing with friends and family. Additionally, females may prioritize affordability and value-added perks when purchasing tickets, such as bundled packages or discounts on group bookings.

Report Scope

Secondary Ticket Market – Regional Analysis

The Secondary Ticket Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

• North America: In North America, the secondary ticket market trends are heavily influenced by the popularity of sports events such as NFL games, NBA playoffs, and major concerts featuring top artists. Ticket resale for high-profile events often commands premium prices, driven by strong demand from passionate fans. Additionally, trends indicate a growing preference for mobile ticketing solutions and dynamic pricing strategies, enhancing accessibility and flexibility for buyers and sellers.

• Europe: In Europe, the secondary ticket market is characterized by a diverse range of events including football matches, music festivals, and cultural performances. Trends suggest a strong demand for tickets to prestigious sporting events like UEFA Champions League matches and music festivals such as Glastonbury. Moreover, there’s an increasing emphasis on ticket authenticity and consumer protection regulations, shaping the market landscape to ensure fair and transparent transactions.

• Asia-Pacific: In the Asia-Pacific region, the secondary ticket market trends reflect a burgeoning interest in live entertainment experiences, driven by the region’s growing middle-class population and urbanization. Major trends include a rising demand for tickets to international sporting events like the Olympics and FIFA World Cup, as well as a surge in the popularity of K-pop concerts and music festivals. Mobile-first ticketing solutions and innovative marketing strategies cater to tech-savvy consumers.

• LAMEA (Latin America, Middle East, and Africa): In LAMEA, the secondary ticket market is shaped by a mix of cultural events, sports tournaments, and international concerts. Trends highlight a preference for local events such as Carnaval in Brazil and soccer matches in Argentina, alongside growing interest in global music tours and festivals. The market is characterized by diverse ticketing platforms catering to specific regional preferences and leveraging social media channels for targeted promotions.

Competitive Landscape – Secondary Ticket Market

The Secondary Ticket Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

• StubHub
• Vivid Seats
• Ticketmaster Resale
• SeatGeek
• TicketNetwork
• TicketCity
• Ticket Liquidator
• Gametime
• viagogo
• Razorgator
• TicketIQ
• BigStub
• GoTickets
• Coast to Coast Tickets
• TickPick
• Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New players entering the secondary ticket market are leveraging innovation to gain traction. Platforms like TickPick and Gametime are adopting transparent pricing models and user-friendly interfaces, attracting customers with fair pricing and seamless experiences.

Meanwhile, key players dominating the market such as StubHub and SeatGeek maintain their positions through extensive partnerships, robust ticket inventories, and advanced technology. These dominant players offer a wide range of events, including exclusive access to high-demand tickets, and invest in marketing strategies to retain customer loyalty and expand their market share.

The Secondary Ticket Market is segmented as follows:

By Event Type

• Sports
• Music
• Movies
• Others

By Location

• Local Events
• National Events
• International Events

By Ticket Type

• General Admission
• Reserved Seating
• VIP Tickets

By Gender

• Male
• Female

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America