Key regions: Europe, Asia, Japan, China, South Korea
The Cinema Tickets market in South Korea has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: South Korean consumers have shown a growing interest in cinema experiences, with a preference for watching movies on the big screen. This can be attributed to the immersive experience that cinemas offer, with high-quality visuals and sound systems. Additionally, going to the cinema has become a popular social activity among friends and families, providing an opportunity for people to spend quality time together.
Trends in the market: One of the key trends in the South Korean Cinema Tickets market is the increasing popularity of local films. South Korean cinema has gained international recognition in recent years, with films like "Parasite" winning prestigious awards. This has led to a surge in domestic movie production and a growing demand for tickets to watch these local films. Another trend is the adoption of advanced technologies in cinemas. South Korea is known for its technological advancements, and this is reflected in the cinema industry as well. The introduction of technologies like 3D and IMAX has enhanced the cinema experience, attracting more customers and driving ticket sales.
Local special circumstances: The South Korean film industry has received strong support from the government, which has implemented various policies to promote and protect the local cinema market. This includes measures such as screen quotas, which require cinemas to allocate a certain percentage of their screening time to local films. This has helped to boost the production and distribution of domestic movies, leading to increased ticket sales. Additionally, South Korea has a strong culture of film festivals, with events like the Busan International Film Festival attracting both local and international audiences. These festivals provide a platform for filmmakers to showcase their work and generate buzz around new releases, further driving ticket sales.
Underlying macroeconomic factors: South Korea has a strong and stable economy, which has contributed to the growth of the Cinema Tickets market. With increasing disposable incomes, consumers have more spending power to indulge in leisure activities like going to the cinema. Furthermore, the South Korean population has been experiencing demographic shifts, with a growing number of young adults and families. This demographic group is more likely to engage in cinema activities, driving up ticket sales. In conclusion, the Cinema Tickets market in South Korea is witnessing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The popularity of local films, adoption of advanced technologies, government support, and a strong economy are all contributing to the expansion of the market.
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.
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