Global Secondary Tickets Market Trend, Share, Growth, Size and Forecast 2030

Secondary Tickets Industry Prospective:

The global secondary tickets market size was worth around USD 2,641 million in 2022 and is predicted to grow to around USD 5,112 million by 2030 with a compound annual growth rate (CAGR) of roughly 9.5% between 2023 and 2030.

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Global Secondary Tickets Market: Overview

Secondary tickets, or those resold by someone other than the original vendor, have become a defining feature in the world of event ticketing. These transactions often occur in the secondary market, when a platform or individual purchases tickets from the primary market and resells them for more than their face value. Selling secondary tickets allows you to obtain tickets for sold-out events or for highly sought-after seats that may not be accessible through official channels. However, there is disagreement and concern regarding the rise of secondary ticketing. One major concern is that costs will rise as merchants try to profit from the high demand and limited supply. Because of this technique, true fans find it difficult to afford events, giving rise to claims of price gouging.

Furthermore, there are worries about the need for rules to ensure openness and protect customers in secondary markets, which are vulnerable to fraud and unfair competition. As concerns regarding the ethics and rules surrounding secondary ticketing methods continue, the industry faces a significant problem in establishing a balance between promoting event participation and preventing abuse.

Key Insights

• As per the analysis shared by our research analyst, the global secondary tickets industry is estimated to grow annually at a CAGR of around 9.5% over the forecast period (2023-2030).
• In terms of revenue, the global secondary tickets market size was valued at around USD 2,641 million in 2022 and is projected to reach USD 5,112 million, by 2030.
• The global secondary tickets industry is projected to grow at a significant rate due to snowballing demand for exclusive and high-demand events.
• Based on user type segmentation, individual sellers were predicted to hold maximum market share in the year 2022.
• Based on event category segmentation, concerts were the leading revenue generator in 2022.
• On the basis of region, Asia Pacific was the leading revenue generator in 2022.

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Global Secondary Tickets Market: Growth Drivers

Snowballing demand for exclusive and high-demand events is driving the growth of the market

The rising demand for desirable and in-demand events is the key driver of the worldwide secondary ticket market's development. In today's entertainment world, premium experiences such as sold-out concerts, big athletic events, and blockbuster theatrical plays are highly sought for. Due to the restricted quantity of tickets in the primary market, aficionados increasingly turn to secondary ticket marketplaces to acquire access to these highly sought-after experiences. As indicated by the spike in demand, the worldwide secondary ticket market is increasing at a rapid pace due to customer willingness to pay a premium for the convenience and guarantee of attending major events.

The worldwide secondary ticket market continues to expand and stay relevant, acting as a crucial way of acquiring access to highly sought-after live experiences, owing to the entertainment industry's dynamic nature and continuously changing calendar of exclusive events. Official data clearly suggests that demand for these tickets is increasing. The Department for Digital, Culture, Media, and Sport (DCMS) highlights in the UK government's study on the secondary ticketing market, for example, that secondary ticket prices have climbed in line with the rising popularity of exclusive events.

Global Secondary Tickets Market: Restraints

Persistent challenge of fraudulent activities is restraining market growth

One of the key reasons restricting the secondary ticket market internationally is the persistent problem of fraud and ticket scalping. The resale of tickets at exorbitant costs, which is commonly aided by dishonest persons and bots, raises moral concerns and creates barriers for sincere fans. During main sales, scalpers use automated software to purchase huge amounts of tickets, depriving many fans of face value tickets. The US Federal Trade Commission (FTC) warns clients about the risks of purchasing secondary tickets for high-demand events, highlighting the regularity of inflated prices and fraudulent conduct.

Furthermore, bogus tickets and deceptive advertising on third-party platforms undermine customer trust in the business and dissuade prospective buyers. To provide a fair and safe secondary ticketing market for customers, industry and regulatory organizations must collaborate to control and minimize these fraudulent acts, which are an ongoing problem. The prevalence of these issues impairs the secondary ticket market's potential for growth and harms its reputation globally, thus aggressive actions to rectify and overcome these issues are essential.

Global Secondary Tickets Market: Opportunities

Potential for technological advancements to enhance transparency and consumer trust to provide growth opportunities

By creating secure, immutable records of ticket transactions, blockchain technology has the ability to eliminate the danger of fraud and counterfeit tickets. By integrating Blockchain technology, the secondary ticket market may provide a transparent and verifiable record of ticket ownership, ensuring that customers receive authentic tickets at acceptable prices. Artificial intelligence (AI) algorithms may also be used to detect and prevent automated scalping, promoting more equitable ticket allocation and improving the experience for actual fans.

Embracing these technology options not only fixes present challenges but also positions the global secondary ticket market for long-term growth by establishing a more trustworthy and user-friendly ecosystem.

Global Secondary Tickets Market: Challenges

Continuous battle to find a balance between resolving customer concerns and upholding a competitive and effective market to challenge market growth

One of the primary difficulties confronting the worldwide secondary ticket industry is the ongoing struggle to strike a balance between addressing consumer complaints and maintaining a competitive and functional market. Critics argue that the resale of tickets on the secondary ticket market at prices well over face value might abuse actual fans by pushing them away from popular events. Tougher restrictions aimed at preventing exorbitant prices, on the other hand, may limit people's ability to resale tickets for events they can no longer attend, limiting the market's flexibility. The industry and regulatory bodies must strike a fine balance between protecting consumers from unfair tactics and allowing authorized resale activity.

This necessitates thoughtful legislation that considers both consumer rights and market forces. Furthermore, the problem stems from scalpers' continual adaptation to shifting techniques and technology. To properly monitor and prevent unfair acts, the ticketing business must keep up with technological changes, notably the employment of sophisticated bots and algorithms in ticket scalping tactics. To continue this technological arms race in security measures, a fair and dependable secondary ticket market that emphasizes legitimate fans' access to events at reasonable rates is required. Continuous innovation in these measures is required.

Global Secondary Tickets Market: Segmentation

The global secondary tickets market is segmented based on user type, event category, and region.

Based on user type, the global industry segments are individual sellers and professional resellers/brokers. Individual sellers presently occupy a commanding presence in the global market. The aforementioned trend emphasizes the growing influence of lone aficionados and casual sellers on the resale market, which may be linked to the conveniently available and user-friendly websites that allow anyone to engage in secondary ticketing. However, given the market's volatility, it's feasible that as the industry matures, the relative dominance of individual sellers and skilled resellers/brokers will shift.

Based on event category the global secondary tickets industry is categorized as concerts, sports events, theater Performances, and Special Events. Concerts formed the largest shareholder category in the worldwide secondary tickets market out of all of these due to the immense popularity of live music events and the devoted fan base that requires access to sold-out performances or premium seats.

Secondary Tickets Market: Report Scope

Global Secondary Tickets Market: Regional Analysis

Asia Pacific to lead the market during the forecast period

During the forecast period, the Asia Pacific region is predicted to emerge as the worldwide secondary ticket market leader. An expanding middle class with an increased desire for entertainment, the increasing popularity of live events, and rising disposable money are some of the reasons driving the expansion of this sector. As a result of economic expansion and urbanization, the Asia Pacific area is seeing a significant increase in demand for tickets to concerts, sporting events, theater performances, and other special events. Furthermore, the simplicity with which secondary tickets may be acquired and sold has been made feasible by the increasing prevalence of digital platforms and online ticketing services, which has contributed to the region's market domination. The secondary ticket market in Asia Pacific is likely to grow.

As long as the area provides a diverse range of events and experiences, Asia Pacific is expected to become a key force and market leader in the global secondary ticket environment. Furthermore, ticket demand is increasing as the Asia Pacific region's internet access and smartphone use increases. The APAC area has the greatest smartphone penetration rate in the world, with over 4 billion users. This has resulted in the widespread adoption of mobile ticketing, as well as an increase in internet connectivity.

Key Developments

2023: In June 2023, Viagogo expanded into additional markets. Viagogo intends to widen its audience and diversify its revenue sources by expanding beyond typical events to include attractions, trips, and experiences. This expansion reflects how the entertainment industry is developing and how customers' appetite for a broader range of experiences is increasing.

Global Secondary Tickets Market: Competitive Analysis

The global secondary tickets market is dominated by players like:

• StubHub
• Vivid Seats
• SeatGeek
• Ticketmaster Resale
• Viagogo
• Razorgator
• TicketIQ
• TicketNetwork
• TickPick
• Gametime

The global secondary tickets market is segmented as follows:

By User Type

• Individual Sellers
• Professional Resellers/Brokers

By Event Category

• Concerts
• Sports Events
• Theater Performances
• Special Events

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa