In 2014, $60.73 billion worth of event tickets were sold globally. In 2019 this figure is expected to reach $69.49 billion, growing at a CAGR (compound annual growth rate) of 2.73% over the next five years. The global event tickets market includes live events only, consisting mainly of sporting events, concerts, festivals, fairs and live theater. Movie ticket sales are not included.
Source: Technavio
The sporting event segment accounted for 47.86% of the market in 2014. The increasing number of sports viewers and the growing sports betting market is one of the major reasons for the growth in this segment. Additionally, with improved infrastructure the capacities of venues have increased and advancements in technology such as wireless connectivity in stadiums have increased attendance among millennials.
Events Ticket Market in the United States
The Americas are responsible for 41.36% of the global events ticket market, with the United States being the major contributor. The United States is expected to see a rise in event ticket sales through 2019 due to increased live concerts for pop stars, bands and DJ’s but their main source of revenue is still live sporting events.
The Super Bowl is the major revenue contributor as football fans have been willing to pay record breaking prices three of the past four years to attend the event. According to Stub Hub, the average ticket price on the secondary market for Super Bowl 49 (Super Bowl XLIX) in 2015 cost $4,600, smashing the previous record set a year earlier where the average ticket was priced at $3,775. The average Super Bowl ticket price in 2009 was $1,100 which at that time was also a record, meaning in just six years the average cost of Super Bowl tickets have increased more than 400%.
Americans are willing to spend some serious cash on more than just football too. Game 7’s in the NHL, MLB and NBA are now reaching astronomical values. Game 7 of the 2014 World Series between the San Francisco Giants and the Kansas City Royals had an average cost of $1,713 according to TiqIQ. Average ticket costs surpassing the $1,000 mark have happened recently in the NBA Finals and Stanley Cup in recent years as well. Below are the 20 highest average ticket price costs for game 7’s on the secondary market since 2011:
