Cinema - Philippines

Philippines

Highlights

In the Philippines, revenue in the Cinema market is projected to reach US$293.50m in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 5.51%, leading to a projected market volume of US$383.80m by 2029.
By 2029, the number of viewers in the Cinema market in the Philippines is expected to amount to 18.9m users.
User penetration in the Philippines will be 13.8% in 2024 and is anticipated to increase to 14.8% by 2029.
The average revenue per viewer in the Philippines is expected to reach US$17.88.
In a global context, the majority of revenue will be generated the United States, with an estimated figure of US$20.98bn in 2024.
The Philippine cinema market is increasingly embracing digital platforms, reflecting a shift in consumer preferences towards on-demand viewing experiences.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cinema market in Philippines has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Philippines, there is a growing demand for cinema experiences, with customers increasingly seeking out high-quality, immersive entertainment. This has led to a rise in the popularity of premium cinema formats, such as IMAX and 4DX, which offer enhanced visual and audio experiences. Customers are also showing a preference for diverse film offerings, including international and independent films, as well as local productions. Additionally, there is a trend towards cinema complexes that offer a wide range of amenities, such as comfortable seating, food and beverage options, and even gaming areas.

Trends in the market: One of the key trends in the cinema market in Philippines is the expansion of cinema chains and the construction of new cinema complexes. This is driven by the increasing demand for cinema experiences and the growing middle class in the country. Major cinema chains are investing in new locations and upgrading existing ones to meet the evolving needs of customers. Furthermore, there is a growing trend towards digitalization in the cinema industry, with the adoption of digital projection systems and online ticketing platforms. This allows for more efficient operations and provides customers with greater convenience.

Local special circumstances: The cinema market in Philippines is also influenced by local special circumstances. For example, the country has a strong film industry, with a rich history of producing high-quality films. This has contributed to the popularity of local productions and the support for local filmmakers. Additionally, the Philippines has a large young population, with a high proportion of moviegoers in the 15-34 age group. This demographic is driving the demand for diverse and immersive cinema experiences.

Underlying macroeconomic factors: Several underlying macroeconomic factors are contributing to the development of the cinema market in Philippines. The country has been experiencing steady economic growth, which has led to an increase in disposable income and consumer spending. This has allowed more people to afford cinema tickets and other entertainment options. Furthermore, urbanization and the growth of the middle class are driving the demand for leisure and entertainment activities, including cinema. The government is also supportive of the film industry, providing incentives and support for local productions. In conclusion, the cinema market in Philippines is developing due to changing customer preferences, such as the demand for premium cinema experiences and diverse film offerings. The construction of new cinema complexes and the adoption of digital technologies are also driving the market. Local special circumstances, such as the strong film industry and the young population, further contribute to the growth. Overall, the underlying macroeconomic factors, including economic growth and government support, are creating a favorable environment for the cinema market in Philippines.

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.