Market Insights Advertising & Media Media Cinema

Cinema Concessions - South Korea

South Korea

Revenue in the Cinema Concessions market is projected to reach US$1.16bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.77%, resulting in a projected market volume of US$1.33bn by 2029.
In the Cinema Concessions market, the number of viewers is expected to amount to 35.8m users by 2029.
User penetration will be 64.1% in 2024 and is expected to hit 69.7% by 2029.
The average revenue per viewer is expected to amount to US$35.05.
In global comparison, most revenue will be generated in the United States (US$9,884.00m in 2024).

Key regions: Germany, United States, United Kingdom, India, Asia

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Analyst Opinion

The Cinema Concessions market in South Korea has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.

Customer preferences in South Korea have played a crucial role in driving the growth of the Cinema Concessions market. South Korean consumers have shown a strong inclination towards convenience and entertainment experiences. They prefer to have a wide range of food and beverage options available to them while enjoying a movie.

This has led to an increased demand for a variety of snacks, beverages, and other concessions at cinemas. Trends in the market have also contributed to the growth of the Cinema Concessions market in South Korea. Cinemas have recognized the importance of providing a unique and enjoyable experience to attract customers.

As a result, they have expanded their concessions offerings beyond traditional popcorn and soda. South Korean cinemas now offer a diverse range of food and beverage options, including gourmet popcorn flavors, specialty coffee, and local delicacies. This trend has not only enhanced the cinema-going experience but has also created new revenue streams for cinema operators.

Local special circumstances have further fueled the growth of the Cinema Concessions market in South Korea. The country has a strong culture of socializing and eating out. Going to the cinema is often seen as a social activity, and consumers enjoy the opportunity to indulge in snacks and drinks while spending time with friends and family.

Additionally, South Korea has a vibrant street food culture, and cinemas have capitalized on this by offering popular street food items as part of their concessions menu. This blend of socializing and culinary experiences has contributed to the success of the Cinema Concessions market in South Korea. Underlying macroeconomic factors have also played a role in the development of the Cinema Concessions market in South Korea.

The country has experienced steady economic growth over the years, resulting in increased disposable income for consumers. This has allowed them to spend more on leisure activities, including going to the cinema and purchasing concessions. Additionally, South Korea has a large and growing middle class, which has further fueled demand for cinema concessions.

In conclusion, the Cinema Concessions market in South Korea has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The focus on convenience and entertainment experiences, the expansion of concessions offerings, the socializing culture, and the country's economic growth have all contributed to the success of the market. As South Korean consumers continue to seek unique and enjoyable cinema experiences, the Cinema Concessions market is expected to further thrive in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Cinema market, which comprises revenues from box office, advertsing and concessions. The market includes both consumer and advertising spending. All monetary figures refer to consumer spending on tickets and concessions. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.