Cinema Tickets - Iceland

Iceland

Highlights

Revenue in the Cinema Tickets market is projected to reach US$1.07m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.15%, resulting in a projected market volume of US$1.26m by 2028.
In the Cinema Tickets market, the number of users is expected to amount to 53.5k users by 2028.
User penetration will be 14.3% in 2024 and is expected to hit 14.3% by 2028.
The average revenue per user (ARPU) is expected to amount to US$22.50.
In global comparison, most revenue will be generated China (US$6.96bn in 2024).
With a projected rate of 22.8%, the user penetration in the Cinema Tickets market is highest Norway.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cinema Tickets market in Iceland has seen significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Icelandic consumers have shown a growing interest in cinema experiences, with a preference for high-quality theaters and a wide range of movie options. This trend can be attributed to several factors, including the increasing popularity of international films, the rise of streaming platforms, and the desire for immersive entertainment experiences. Additionally, Icelandic consumers value convenience and flexibility, leading to a rise in online ticket sales and the availability of mobile ticketing options.

Trends in the market: One notable trend in the Icelandic Cinema Tickets market is the increasing demand for premium experiences. Consumers are willing to pay higher prices for luxury theaters that offer comfortable seating, advanced audiovisual technology, and a range of amenities such as gourmet food and drink options. This trend reflects a desire for a more immersive and exclusive cinema experience. Another trend in the market is the growing popularity of event cinema. Icelandic consumers are increasingly interested in watching live broadcasts of concerts, theater performances, and sporting events on the big screen. This trend provides an alternative form of entertainment and allows audiences to experience cultural events in a unique and communal setting.

Local special circumstances: Iceland's unique geography and small population size have influenced the development of the Cinema Tickets market. The country's remote location and limited number of theaters have created a sense of exclusivity and scarcity, driving up demand for cinema experiences. Additionally, Iceland's vibrant film industry, known for its high-quality productions and unique storytelling, has fostered a strong appreciation for cinema among the local population.

Underlying macroeconomic factors: The growth of the Cinema Tickets market in Iceland can also be attributed to underlying macroeconomic factors. The country's stable economy, high disposable income levels, and strong tourism industry have contributed to increased consumer spending on entertainment and leisure activities. Additionally, government initiatives to support the film industry, such as tax incentives and funding programs, have helped stimulate growth in the market. In conclusion, the Cinema Tickets market in Iceland is experiencing growth due to changing customer preferences, including a demand for premium experiences and event cinema. The country's unique geography and small population size contribute to a sense of exclusivity and scarcity, while underlying macroeconomic factors such as a stable economy and government support for the film industry further drive market growth.

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.