Box Office - Peru | Statista Market Forecast

Box Office - Peru

Peru

Highlights

In Peru, revenue in the Box Office market market is projected to reach US$30.14m in 2024.
This revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 5.95%, leading to a projected market volume of US$40.24m by 2029.
In the Box Office market market withPeru, the number of viewers is anticipated to reach 2.8m users by 2029.
User penetration in Peru will be 6.9% in 2024 and is expected to increase to 7.7% by 2029.
The average revenue per viewer in Peru is expected to amount to US$12.65.
In a global context, the majority of revenue will be generated the United States, which is projected to reach US$10.14bn in 2024.
In Peru, the box office market is witnessing a resurgence as local filmmakers increasingly capture audiences with culturally resonant narratives and innovative storytelling techniques.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Box Office market in Peru has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Peruvian moviegoers have shown a strong preference for both local and international films, with a particular interest in genres such as comedy, drama, and action. They enjoy a wide range of cinematic experiences, from big-budget blockbusters to independent films. Additionally, there is a growing demand for films that reflect Peruvian culture and showcase local talent.

Trends in the market: One of the key trends in the Box Office market in Peru is the increasing popularity of digital platforms and online ticketing services. This has made it easier for moviegoers to access and book tickets, leading to a rise in ticket sales. Furthermore, the emergence of streaming services has created new opportunities for film distribution, allowing Peruvian audiences to enjoy a wider variety of films from around the world. Another trend in the market is the growth of multiplex cinemas in urban areas. These modern and well-equipped theaters offer a more immersive movie-watching experience, attracting a larger audience. In addition, multiplex cinemas often screen films in both Spanish and English, catering to the diverse language preferences of Peruvian moviegoers.

Local special circumstances: Peru's rich cultural heritage and diverse landscapes have made it an attractive location for international film productions. The country's stunning scenery and historical sites have been featured in several blockbuster movies, increasing the visibility of Peru's film industry on a global scale. This has not only boosted tourism but also generated interest among local audiences, who take pride in seeing their country on the big screen. Furthermore, the Peruvian government has implemented policies to support the local film industry, including tax incentives and funding programs. This has encouraged the production of more Peruvian films and provided opportunities for local talent to showcase their work. As a result, there has been a rise in the number of domestically produced films, which has further contributed to the growth of the Box Office market in Peru.

Underlying macroeconomic factors: Peru's stable economic growth and rising disposable incomes have played a significant role in the development of the Box Office market. As the middle class expands and more people have discretionary income, they are willing to spend on entertainment, including going to the movies. Additionally, the increasing urbanization in Peru has led to the establishment of new cinemas in previously underserved areas, further driving the growth of the market. In conclusion, the Box Office market in Peru is experiencing growth due to changing customer preferences, emerging trends such as digital platforms and multiplex cinemas, local special circumstances such as the country's cultural heritage and government support, and underlying macroeconomic factors such as stable economic growth and rising disposable incomes. These factors combined have created a favorable environment for the development of the Box Office market in Peru.

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.