Events and Tickets

The online events and ticketing industry has depended on the ebb and flow of the global economy. The potential of the in industry has been determined by consumer sentiments and their disposable income. The global economy has been able to recover from the recession and this has led to improvement in sentiments, leading to a strong willingness to be a part of events and happenings. Furthermore, the convenience associated with new technologies has also led to more people attending events, visiting theatres and loosening their purse strings.

The growing popularity of the internet has certainly been a boost to the industry. This is equally helped by the rise of smartphones and tailored applications that let audiences grab a seat or book a show instantly from anywhere. Over the last 5 years, more than 25 new websites and 274 sellers have entered the industry. Spending power has been able to drive this industry from a growth rate of 3.1% to over $4.5 billion in 2014 alone. Existing participants in the industry are consequently increasing their product offerings to get a greater reach over the market. However, the event and ticketing industry has also experienced a high degree of market concentration wherein 56.6% of the market share lies with the top 5 companies.