Report Description

India Online Event Ticketing market is projected to grow through the forecast period due to rising internet usage among young generation and the ease of purchasing tickets through internet-enabled smartphones. Moreover, the dynamics of ticketing services in India are projected to change significantly over the forecast period. Major service providers are continually developing user-friendly Android and iOS applications to make hassle free ticket purchase.

India Online Event Ticketing Market Scope

An online event ticketing is a platform that enables ticket sellers to sell tickets online. It is a platform which is used as one stop solution for booking tickets online on smart devices. These service are used by consumers as well as vendors to make it easier for booking an event online. Growing usage of online event ticketing for various types of events such as movies, music concerts, food and drink events, exhibitions, etc. is propelling the India market for online event ticketing.

India Online Event Ticketing Market Overview

The online event ticketing market in India has experienced significant growth in recent years, driven by factors such as increasing internet penetration, rising smartphone adoption, and a growing demand for live events and entertainment. The leading companies in the market have to adopt advanced services to all emerging forms of technology, including mobile and wearable technologies, in order to keep up with consumer demands. The online event ticketing market in India is highly competitive, with several major players competing for market share. Some of the prominent players include BookMyShow, Paytm Insider, MeraEvents, and Events High. These platforms offer a wide range of event categories, including concerts, sports events, conferences, theater shows, and more. This includes music concerts, festivals, sports matches (cricket, football, etc.), theater and drama performances, stand-up comedy shows, exhibitions, workshops, conferences, and other cultural and entertainment events.

According to a report published by IAMAI (Internet and Mobile Association of India), the number of internet users in India is predicted to rise from 622 million in 2020 to 900 million by 2025, at a CAGR of 45%.

India Online Event Ticketing Market Drivers

The online event ticketing market is growing in India due to various factors such as growing popularity of paperless transactions, online event ticket booking services, which generate e-tickets, that are delivered to consumers in the form of email or test messages. Thus, government is also encouraging digital transactions in order to reduce paper usage, which in turn is driving the market for online event ticketing in India.

Furthermore, with the growing popularity of internet, e-tickets are gaining popularity among consumers as it does require extra effort to book tickets for event. Online ticketing platforms are also offering value-added services to enhance the overall event experience. This can include features such as seat selection, VIP upgrades, event-related merchandize sales, or post-event content access. By providing additional services beyond ticketing, platforms can generate additional revenue streams. Online ticketing platforms provide real-time updates and notifications to customers, keeping them informed about event details, changes in schedule or venue, and any other relevant information. This timely communication helps ensure that customers are well-informed and can plan accordingly, contributing to the demand for online ticketing. Cricket, football, and other sports have a massive following in India. With the advent of professional leagues like the Indian Premier League (IPL) and Indian Super League (ISL), there has been a surge in demand for online event ticketing platforms to secure tickets for these sporting events. Thus, these factors are anticipated to boost the India online event ticketing market during the forecast period.

India Online Event Ticketing Market Trends

The online event ticketing industry in India is constantly evolving and adapting to changing customer needs. Here are some of the latest trends in the online event ticketing market in India. With the growing technology in India people are demanding online event ticketing as it offers personalized experience which improves enjoyment, increases customer loyalty. More than 77% of millennials prefer personalization facilitates in online booking such as offering of ticket recommendations based on musical preferences or previously attended concerts not only improve customer service but also boosts the demand for online event ticketing among population of India.

Furthermore, social media, one of the most productive marketing methods, is expected to have a significant role in the online ticketing market in India. From social media advertisements and the use of celebrity endorsements to the integration of ticketing software into social media feeds and enabling regular consumers to increase sales through likes, shares, and location tags. In online event ticketing, services are offering multiple different prices per seat depending on offer such as luxury VIP service, free refund or rearrangement option, or even multi-day passes. Additionally, online event ticketing platforms are also offering in-app messaging feature. With the new in-app messaging feature families or friends who have booked tickets in groups, can now use the app to communicate in real time. Without switching between BookMyShow and other instant messaging apps or phone conversations, members of the group booking can suggest movies, show times, venue selections and ultimately finish the movie tickets booking. In addition, email reminders, push notifications, event updates through text messages are some of the ways to notify the consumers about their booking. Thus, these new trends and features are boosting the demand for online event ticketing market.

India Online Event Ticketing Market Challenges

The online event ticketing is an industry that will keep expanding and growing. However, with the development of new technology, organizations in this sector are facing a number of new challenges and concerns. These issues include adapting to new payment methods, using latest technology, and choosing properly from the large array of digital options that are offered to them. One of the challenge consumers are not adopting online event ticketing is due to the fees upwards on the total ticket cost. Due to its high price and poor customer response for events that are booked using online ticketing, this type of service is hampering the market share.

Furthermore, online ticketing platforms need to handle a large number of transactions simultaneously, especially during high-demand events. Ensuring that the system can handle the influx of traffic and maintain performance without crashing or experiencing slowdowns is a significant challenge.

Moreover, cash continues to be the dominant mode of transaction in India and many people still prefer cash over online transactions. This is also hampering the demand for online event ticketing market in India.

 Recent Developments

  • Online ticketing and entertainment platform BookMyShow stated that it is experiencing a surge in users as a result of the relaxation of Covid-related restrictions after recording the highest-ever ticket booking on its platform of 29 million in April 2022.
  • In 2022, BookMyShow acquired the majority of shares in the media and entertainment start-up TribeVibe, which offers a one-stop shop for college events. Through the agreement, TribeVibe will be able to use the BookMyShow platform to increase interaction and list more of its products on the platform.

Market Opportunities

  • The online event ticketing industry in India has several opportunities for growth and development. While online ticketing platforms have gained traction in major cities, there is still significant potential for expansion into tier 2 and tier 3 cities in India. These cities have a growing urban population and an increasing number of entertainment events. By catering to these regions, online ticketing platforms can tap into new markets and reach a wider audience.
  • Implementing advanced algorithms and machine learning techniques can enable online ticketing platforms to provide personalized recommendations to users. By analyzing user preferences, purchase history, and behavioral patterns, platforms can suggest relevant events and improve the discoverability of events that align with individual interests.
  • Collaborating with event organizers, promoters, and venues can provide opportunities for exclusive partnerships and early access to ticket sales. Such collaborations can help online ticketing platforms secure premium inventory, offer bundled deals, and gain a competitive advantage by providing unique experiences to users.
  • Social media platforms have a significant influence on user behavior and event discovery. Online ticketing platforms can leverage social media integration to enable users to share events, purchase tickets directly from social media platforms, and facilitate influencer marketing to promote events to a wider audience.