The value of the international FEC business in 2018 stood at US$18.7bn and will grow at around 10.93 per cent during 2019-2024, says a new report.
Dublin-based ResearchAndMarkets.com has released a report entitled Global Family Entertainment Centres. It covers them by type, visitor demographics, facility size, revenue source, by region and outlines the competition, makes forecasts and opportunities.
The research bases its conclusions on growth per capita, disposable income and technological innovations such as virtual reality games.
After defining the term FEC, the report notes that these establishments "are not affected by environmental factors". Therefore, it says, more and more families are opting for entertainment centres due to the availability of options such as F&B, gaming and movies.
It continues: “On the basis of type, the market can be segmented into virtual reality gaming zones, sports arcades, arcade studios and others. The virtual reality gaming zones segment is expected to register the fastest growth in the coming years, as it offers advanced entertainment experience, thereby boosting revenues. Different sources that help to generate revenue for family entertainment centres include food and beverages, entry fees and ticket sales, advertising and merchandising. The food and beverages segment is anticipated to register growth in the global family entertainment centres market, as more and more people have started preferring these centres for hosting corporate and birthday parties.
“Family entertainment centres are gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East and Africa. North America dominates the global entertainment centres market due to the presence of a large number of players and surging disposable income and middle-class population in the region.
“Major players operating in the global family entertainment centres market include Smaaash Entertainment, The Walt Disney Company, Dave & Buster's, CEC Entertainment, Seaworld Entertainment and Merlin Entertainment. Players operating in entertainment centres market are introducing loyalty programs based on parameters such as visit points, memberships and reward points in order to attract new customers and retain old ones.”
