Market Insights Digital eServices Event Tickets

Cinema Tickets - Latvia

Latvia

Revenue in the Cinema Tickets market is projected to reach US$6.03m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.89%, resulting in a projected market volume of US$6.50m by 2028.
In the Cinema Tickets market, the number of users is expected to amount to 160.1k users by 2028.
User penetration will be 8.7% in 2024 and is expected to hit 9.1% by 2028.
The average revenue per user (ARPU) is expected to amount to US$38.22.
In global comparison, most revenue will be generated in China (US$6,963.00m in 2024).
With a projected rate of 22.8%, the user penetration in the Cinema Tickets market is highest in Norway.

Key regions: Europe, Asia, Japan, China, South Korea

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Analyst Opinion

The Cinema Tickets market in Latvia has been experiencing steady growth in recent years.

Customer preferences: Latvian consumers have shown a growing interest in cinema as a form of entertainment. This can be attributed to the increasing availability of high-quality films and the immersive experience that cinemas provide. Customers appreciate the large screens, comfortable seating, and state-of-the-art sound systems that cinemas offer. Additionally, going to the cinema has become a popular social activity among friends and families, further driving the demand for cinema tickets.

Trends in the market: One of the key trends in the Latvian cinema tickets market is the rise of online ticket booking platforms. Customers now have the convenience of booking their tickets in advance from the comfort of their homes. This trend has been facilitated by the widespread use of smartphones and the internet, making it easier for customers to access and purchase tickets. Online ticket booking platforms also offer additional features such as seat selection and the ability to view movie trailers, enhancing the overall customer experience. Another trend in the market is the increasing popularity of 3D and IMAX screenings. These formats provide a more immersive and visually stunning experience for moviegoers. The demand for 3D and IMAX screenings has been driven by advancements in technology and the desire for a unique and memorable cinema experience. Cinemas in Latvia have responded to this trend by investing in the necessary equipment to offer these formats, further attracting customers and boosting ticket sales.

Local special circumstances: The Latvian cinema tickets market is influenced by several local special circumstances. Firstly, the country has a strong cultural heritage and a growing film industry. This has led to an increased interest in both local and international films, driving the demand for cinema tickets. Additionally, the relatively small population of Latvia allows for a more personalized cinema experience, with cinemas often catering to specific customer preferences and offering a diverse range of films.

Underlying macroeconomic factors: The growth of the cinema tickets market in Latvia can also be attributed to underlying macroeconomic factors. The country has experienced stable economic growth in recent years, leading to an increase in disposable income. As a result, consumers have more money to spend on leisure activities such as going to the cinema. Additionally, the government has implemented supportive policies to promote the arts and culture sector, including the film industry. This has created a favorable environment for the growth of the cinema tickets market in Latvia. In conclusion, the Cinema Tickets market in Latvia is developing due to customer preferences for the immersive cinema experience, the rise of online ticket booking platforms, and the increasing popularity of 3D and IMAX screenings. Local special circumstances, such as the country's cultural heritage and growing film industry, further contribute to the market's growth. Underlying macroeconomic factors, including stable economic growth and supportive government policies, also play a significant role in driving the demand for cinema tickets in Latvia.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.