Cinema - Peru | Statista Market Forecast

Cinema - Peru

Peru

Highlights

In Peru, revenue in the Cinema market is projected to reach US$62.35m in 2024.
The revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 5.75%, leading to a projected market volume of US$82.46m by 2029.
Within the Cinema market in Peru, the number of viewers is anticipated to reach 2.8m users by 2029.
User penetration in the country will be 6.9% in 2024, and it is expected to rise to 7.7% by 2029.
The average revenue per viewer in Peru is expected to be US$26.17.
In a global context, the highest revenue will be generated the United States, with figures reaching US$20.98bn in 2024.
Peru's cinema market is experiencing a renaissance, with a growing appetite for local storytelling and a rise in independent film productions.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cinema market in Peru has been experiencing significant growth in recent years.

Customer preferences: Peruvian customers have shown a strong preference for cinema as a form of entertainment. They enjoy the immersive experience of watching movies on the big screen, and the opportunity to escape from their daily routines. Additionally, the availability of a wide range of movie genres and the presence of international blockbusters have contributed to the popularity of cinema in Peru.

Trends in the market: One of the key trends in the Cinema market in Peru is the increasing number of multiplexes and cinema screens across the country. This trend can be attributed to the growing demand for cinema and the willingness of investors to capitalize on this opportunity. As a result, more Peruvians have access to cinemas in their local areas, making it easier for them to enjoy the cinema experience. Another trend in the market is the rise of premium cinema experiences. Peruvian customers are willing to pay a premium for enhanced cinema experiences, such as 3D screenings, IMAX theaters, and VIP seating. This trend reflects the desire for a more immersive and high-quality cinema experience, and cinema operators have responded by expanding their offerings to cater to these preferences.

Local special circumstances: Peru's diverse cultural heritage and vibrant film industry have also contributed to the growth of the Cinema market. The country has a rich history of filmmaking, with notable directors and actors gaining international recognition. This has generated a sense of pride and interest in Peruvian cinema, leading to increased support and patronage from local audiences.

Underlying macroeconomic factors: The growth of the Cinema market in Peru can also be attributed to the country's overall economic development. Peru has experienced steady economic growth in recent years, resulting in an expanding middle class with higher disposable incomes. As a result, more Peruvians have the financial means to afford cinema tickets and other entertainment expenses. Furthermore, the increasing urbanization and infrastructure development in Peru have also contributed to the growth of the Cinema market. The expansion of cities and the improvement of transportation networks have made cinemas more accessible to a larger population. This, combined with the rising disposable incomes, has created a favorable environment for the growth of the Cinema market in Peru. In conclusion, the Cinema market in Peru has been growing steadily due to customer preferences for the immersive cinema experience, the increasing number of multiplexes and premium cinema offerings, the country's vibrant film industry, and the overall economic development and infrastructure improvements in Peru. These factors have created a favorable environment for the Cinema market to thrive and are likely to continue driving its growth in the future.

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.