Key regions: South Korea, United Kingdom, Germany, United States, Europe
The Box Office market in Northern Europe has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: In Northern Europe, there is a strong preference for local and European films, which has contributed to the growth of the Box Office market in the region. Audiences in Northern Europe appreciate films that reflect their own culture and values, and this has led to an increase in the production and distribution of local and European films. Additionally, there is a growing interest in independent and arthouse films, as well as a demand for diverse and inclusive storytelling.
Trends in the market: One of the notable trends in the Box Office market in Northern Europe is the rise of streaming services. While streaming platforms have become popular worldwide, Northern European audiences have embraced these services, leading to changes in the way films are consumed. This has created opportunities for both traditional cinemas and streaming platforms to coexist and cater to different customer preferences. Additionally, there has been an increase in the number of film festivals and special screenings, providing audiences with a wider range of film options and immersive experiences.
Local special circumstances: Northern Europe is known for its strong support of the arts and culture, which has created a favorable environment for the Box Office market. Governments in the region often provide funding and incentives for the production and distribution of films, leading to a thriving local film industry. Additionally, the region's high standard of living and disposable income levels have contributed to the growth of the Box Office market, as audiences have the means to spend on entertainment experiences.
Underlying macroeconomic factors: The Box Office market in Northern Europe is also influenced by underlying macroeconomic factors. The region has experienced steady economic growth, which has increased consumer spending power and contributed to the growth of the entertainment industry. Additionally, the high levels of internet penetration and access to digital technology in Northern Europe have made it easier for audiences to access and engage with film content. These factors have created a favorable environment for the Box Office market to thrive in the region.
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.
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