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NEW YORK , Nov. 25, 2024 /PRNewswire/ -- The global secondary tickets market size is estimated to grow by USD 132.1 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 34.25% during the forecast period. Rising popularity of sports events is driving market growth, with a trend towards adoption of dynamic pricing. However, growing consumption of online content poses a challenge. Key market players include Ace Ticket LLC, Anschutz Entertainment Group Inc., Citizen Ticket Ltd., Coast To Coast Tickets LLC, CTS Eventim AG and Co. KGaA, eBay Inc., Eventbee Inc., Eventbrite Inc., Face-value Alliance Ticketing Ltd., Ideabud LLC, Live Nation Entertainment Inc., PrimeSport LLC, SeatGeek Inc., Ticket City Inc., TicketNetwork Inc., TickPick LLC, TiqIQ LLC, Twickets Ltd., Viagogo Entertainment Inc., and Vivid Seats Inc., StubHub, Ticketmaster, Razorgator, TicketIQ, TicketNetwork, Gametime AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Type (Sports events, Concerts, Performing arts, and Movies), Mode Of Booking (Online and Offline), Usre, and Geography (North America, Europe, APAC, South America, and Middle East and Africa) Region Covered North America, Europe, APAC, South America, and Middle East and Africa Key companies profiled Ace Ticket LLC, Anschutz Entertainment Group Inc., Citizen Ticket Ltd., Coast To Coast Tickets LLC, CTS Eventim AG and Co. KGaA, eBay Inc., Eventbee Inc., Eventbrite Inc., Face-value Alliance Ticketing Ltd., Ideabud LLC, Live Nation Entertainment Inc., PrimeSport LLC, SeatGeek Inc., Ticket City Inc., TicketNetwork Inc., TickPick LLC, TiqIQ LLC, Twickets Ltd., Viagogo Entertainment Inc., and Vivid Seats Inc., StubHub, Ticketmaster, Razorgator, TicketIQ, TicketNetwork, Gametime In the secondary tickets market, dynamic pricing is a popular strategy used by teams and event organizers to set flexible prices based on current demand. This approach allows ticket prices to fluctuate based on factors such as holidays, injuries, team records, day of the week, and weather forecasts. By implementing dynamic pricing, these entities can recover revenue that would otherwise go to scalpers or third-party vendors, reducing ticket touting. Dynamic pricing also helps undercut secondary prices, forcing scalpers to lower their own prices and bringing exchange prices closer to face value. Although this strategy decreases buying volume and profit margins in secondary markets, it effectively combats fraudulent activities and overpricing. Notable secondary ticket vendors employing dynamic pricing include Live Nation Entertainment and TiqIQ. The secondary ticket market continues to be a significant trend in the events industry. With the increasing popularity of concerts, sports, and other live events, the demand for secondary tickets has grown. Companies offer various platforms for fans to buy and sell tickets, providing convenience and flexibility. Events like the Super Bowl, Coachella, and the World Cup generate high demand for secondary tickets. The use of digital platforms and secure payment methods has made the process more efficient and trustworthy. However, concerns around ticket prices and authenticity remain. Consumers must exercise caution and ensure they purchase tickets from reputable sources. The market for event tickets is expected to continue growing, offering opportunities for businesses to innovate and provide better services to customers. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! • The global secondary tickets market faces challenges due to the rise of online content consumption. In 2021, a significant increase in Internet speeds and affordable data plans led to a growth in online streaming of live events and movies. In the US, over 70% of adults watch weekly online videos, preferring long-form content. Media companies partner with tech providers to expand their online platforms, renewing and adding seasons to successful shows. This trend negatively impacts the secondary tickets market, particularly for sports events and movies, during the forecast period. • In the secondary ticket market, one of the significant challenges is the issue of authenticity and reliability. Fraudulent tickets can be a major concern for both buyers and sellers. Another challenge is the high demand for popular events, leading to exorbitant prices for tickets. This can create a disparity between the face value and the market price. Additionally, the lack of a centralized platform for ticket sales can make it difficult to ensure fair pricing and prevent price gouging. Furthermore, the convenience of online ticket sales comes with its own set of risks, such as cybersecurity threats and identity theft. Lastly, the time difference in ticketing for international events can pose challenges for buyers in different time zones. These issues require constant attention and innovative solutions to ensure a secure and transparent market for secondary tickets. Insights into how AI is reshaping industries and driving growth- Download a Sample Report This secondary tickets market report extensively covers market segmentation by 1.1 Sports events- The secondary tickets market refers to the sale of tickets for events that have already been purchased by individuals but are now being resold. This market provides an opportunity for fans to purchase tickets to sold-out events. It operates through various platforms, including online marketplaces and brokers. The demand for secondary tickets is driven by the desire to attend popular events that may have limited ticket availability. The market functions based on supply and demand principles, with prices fluctuating according to the availability and desirability of the tickets. It's essential to note that the purchase of secondary tickets may come with additional fees and potential risks, such as the possibility of counterfeit tickets. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) The secondary tickets marketplace experiences significant demand during sold-out concerts, big athletic events, and blockbuster theatrical plays. This demand often leads to a spike in prices, making tickets unaffordable for sincere fans. The resale of tickets through unofficial channels and third-party platforms poses moral concerns and risks, including fraudulent activities, unfair competition, and deceptive advertising. Dishonest persons use automated software and bots to buy tickets in restricted quantities, leading to inflated prices and exorbitant costs. Ethical considerations and customer trust are crucial in this market, as fans seek convenience without falling victim to fraudulent scalpers. The Secondary Tickets Market refers to the sale and purchase of tickets for events that have already been issued. This market operates independently of the primary market, which sells tickets directly from the event organizers or venues. The demand for secondary tickets arises due to various reasons such as unavailability of tickets in the primary market, high demand for popular events, or the convenience of purchasing tickets closer to the event date. The market for secondary tickets is regulated by various laws and regulations to prevent fraudulent activities and ensure fair pricing. The use of technology, such as mobile applications and websites, has significantly increased the accessibility and convenience of buying and selling secondary tickets. The market for secondary tickets is a dynamic one, with prices fluctuating based on various factors such as demand, supply, and the proximity of the event date. 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia: https://www.prnewswire.com/news-releases/secondary-tickets-market-size-is-set-to-grow-by-usd-132-1-billion-from-2024-2028--rising-popularity-of-sports-events-to-boost-the-revenue--technavio-302315097.html SOURCE TechnavioBringing holiday cheer to Lodi kids

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Director-General of Raw Materials Research and Development Council (RMRDC) Prof. Nnanyelugo Ike-Muonso, has appealed to the Bank of Industry (BoI) for intervention funds to develop processing technologies and equipment to prevent post-harvest losses. Ike-Muonso made the appeal when he led officials of the agency on a courtesy visit to the Managing Director of the BOI, Dr. Olasupo Olusi, in Lagos. The visit is part of the council’s continued attempt to foster collaboration with critical stakeholders in ensuring industrial growth and development of the country through local content and technology development. Ike-Muonso clarified that RMRDC was not seeking research funding, but intervention funds to catalyse critical projects capable of enhancing productivity and efficiency in several agricultural value-chains and mineral sectors of the economy. Ike-Muonso described the meeting as being very strategic, highlighting the synergy between the role of BOI in providing financial support for industries and that of RMRDC in focusing on sourcing, development and utilization of local raw materials for industrial inputs. He noted that RMRDC had recently developed a comprehensive database of resource endowments in the country which have been categorized based on SMEs characterization, while using the information to cluster small-holder business owners and operators, including agro raw material-producers, artisanal miners and others in the solid minerals sector. Ike-Muonso also pointed out that RMRDC currently operates the largest machine and equipment development facility in West Africa, located in the RMRDC Research and Demonstration Plant Complex in Abuja. He appealed for direct support to SMEs at the cluster level and intervention funds to develop processing technologies and equipment for value- addition and more importantly, to prevent post-harvest losses. In his response, Olusi commended the efforts of RMRDC in promoting the development of industries through local raw materials utilization and highlighted the criteria for funding which includes project based lending, cluster-based product programmes and special intervention funds. Also commenting on the proposed collaboration, Director, Industrial Plant and Equipment Department, Engr. E. I. Kwaya reiterated council’s immediate need for support in process development to enhance value-addition and reduce wastages from the farm gate to the market. He cited an example of onions, for which Nigeria is the second largest producer in Africa, with 2 million metric tonnes a year, only after Egypt. He lamented that Nigeria still imports onions at an estimated cost of about ₦35 billion, due to post-harvest losses. Kwaya noted that the Council is partnering with a private manufacturing plant in Sokoto which currently produces 100kg of onions powder daily, but with some intervention can be upscaled to 500kg per day. This, he said would require about ₦150 million to install an onion dryer and lyophilizer for processing raw onions into flakes and powder. The same, he said, also applies to other crops such as tomato and ginger. Having listened to the submissions from RMRDC, Olusi emphasized the need for a holistic approach to the value-chain intervention projects and reiterated that BOI primarily funds private-sector projects and not government agencies. To align with this mandate, Ike-Muonso assured him that RMRDC has an ongoing collaboration with Unilever Plc., which would serve as off-takers of the products. He invited the MD to pay a visit to the RMRDC Demonstration Plant Complex. Olusi requested that RMRDC submit a detailed proposal, emphasizing the role of off-takers and incorporating a Special Purpose Vehicle (SPV) to drive the various projects. Ike-Muonso also seized the opportunity to inform the MD of a Bill being sponsored by RMRDC in the National Assembly, to ensure that no primary raw material is exported out of the country unless at least 30 per cent value-addition is achieved. “This is to boost domestic processing capacity, create jobs, and protect resources,” he added.TikTok asked a federal appeals court on Monday to bar the Biden administration from enforcing a law that could lead to a ban on the popular platform until the Supreme Court reviews its challenge to the statute. The legal filing was made after a panel of three judges on the same court sided with the government last week and ruled that the law, which requires TikTok's China-based parent company ByteDance to divest its stakes in the social media company or face a ban, was constitutional. If the law is not overturned, both TikTok and its parent ByteDance, which is also a plaintiff in the case, have claimed that the popular app will shut down by Jan. 19, 2025. TikTok has more than 170 million American users who would be affected, the companies have said. In their legal filing on Monday, attorneys for the two companies wrote that even if a shutdown lasted one month, it would cause TikTok to lose about a third of its daily users in the U.S. The company would also lose 29% of its total “targeted global” advertising revenue for next year as well as talent since current and prospective employees would look elsewhere for jobs, they wrote. “Before that happens, the Supreme Court should have an opportunity, as the only court with appellate jurisdiction over this action, to decide whether to review this exceptionally important case,” the filing said. It's not clear if the Supreme Court will take up the case. But some legal experts have said the justices are likely to weigh in on the case since it raises novel issues about social media platforms and how far the government could go in its stated aims of protecting national security. President-elect Donald Trump, who tried to ban TikTok the last time he was in the White House, has said he is now against such action. In their legal filing, the two companies pointed to the political realities, saying that an injunction would provide a “modest delay” that would give “the incoming Administration time to determine its position — which could moot both the impending harms and the need for Supreme Court review.” Attorneys for the two companies are asking the appeals court to decide on the request for an enforcement pause by Dec. 16. The Department of Justice said in a court filing on Monday that it will oppose the request. Justice officials also suggested that an expedited decision denying TikTok's request would give the Supreme Court more time to consider the case.

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