The global drive-in movie theatre market was valued at $5.1 billion in 2022 and is expected to reach $8.6 billion by 2031, expanding at a compound annual growth rate of 6.2 percent between 2023 and 2031, according to a report released by Transparency Market Research. The research says the market is driven by the low cost of operation of these movie theatres.
The report points to the fact that drive-in cinemas do not need air conditioning because these are in open spaces. Increase in disposable income, rise in urban population, and surge in spending on leisure activities are driving market development, the report said.
Also, modernization of drive-in cinemas has been accelerated by technological advancements. However, the global industry has significant obstacles from not having enough of shows and bad weather. These movie theatres are built around car parking lots and are outdoor drive-in cinema setups. Movies can be watched in vehicles by viewers. Drive-in movie theatres offer a special form of micro broadcasting, in which the movie soundtrack is selected for greater quality by the viewer's in-car audio system.
A large outdoor screen, a food store, a projection booth, and a parking space are all potential locations for drive-in movie theatres. Drive-in movies are becoming more popular in restaurants and shopping centers to increase sales.
Drive-in cinemas are becoming increasingly popular as a replacement for independent seat theatres among young and middle-aged audiences worldwide. Middle-aged audiences, particularly those who work, are increasingly opting for drive-in cinemas over standalone theatres for a calmer and soothing experience. For movie viewing, this age group prefers a private setting.
In terms of application, the restaurant parking lots segment is anticipated to lead the global market in the next few years. Movie theatres located in restaurant parking lots are well-known for food and beverage offerings. Live concerts and various other events can additionally be held in restaurant parking lots.
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