Home Business NewsBusinessBusiness Growth News Online sports events tickets to hit $22.1bn in revenue, a 131% jump in a year

Online sports events tickets to hit $22.1bn in revenue, a 131% jump in a year

by LLB Tech Reporter
28th Apr 21 1:01 pm

Although the COVID-19 practically devastated the ticketing industry, causing thousands of canceled matches and empty stadiums worldwide, the pandemic also speeded up the transition to mobile ticketing and a cashless experience at stadiums and ballparks.

According to data presented 123scommese.it, the online sales of sports events tickets are expected to hit $22.1bn in revenue in 2021, a 131% jump in a year.

Revenues $1B Higher than Before COVID-19

The online sale of sports event tickets has gone up considerably in the last years, although it remains the smallest segment of the event ticket market.

In 2017, the entire segment generated close to $17.4bn in revenue, revealed the Statista survey. In the next two years, this figure rose to $21.3bn. However, with thousands of sports events canceled and postponed amid the lockdown, online ticket sales plunged by 55% YoY to $9.6bn in 2020.

The Statista data show the entire market is expected to see a strong recovery this year, with ticket sales revenues rising almost $1bn higher than in 2019. The following years are set to witness a surge in demand for online sports events tickets, with revenues growing by another 40% to over $31bn by 2024.

Statistics also show the average revenue per user grown significantly over the years, primarily due to the general increase in ticket prices. The average revenue per user jumped by nearly 30% in the last four years, rising from $67.20 in 2017b to $87.23 in 2021. This figure is expected to continue growing and hit close to $99 in 2024.

The United States to Generate 45% of Revenues in 2021

The Statista survey revealed that the number of people buying tickets for sports events online rose at a slower pace. Between 2017 and 2019, the number of users in this segment of the ticket market increased from 258.5 million to 279.4 million. After plunging by almost 60% YoY to 114.5 million in 2020, the number of users is forecast to hit 254.4 million this year, 20.9 million less than before the pandemic. In the next three years, this figure is expected to hit 313 million.

Analyzed by geography, the United States represents the world’s largest market for the online sale of sports event tickets. In 2021, American sports fans are expected to spend over $10bn on online tickets, or 45% of total revenues this year. The United Kingdom ranked second with $1.4bn in revenue this year. China, Japan and Canada follow with $1.2bn, $858 million, and $833 million, respectively.

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