Industry revenue will continue to decrease amid heightened competition and low participation. For these reasons, industry research firm IBISWorld has added a report on the Pool and Billiard Halls industry to its growing industry report collection.
New York, NY (PRWEB) May 07, 2014
The Pool and Billiard Halls industry steadily declined over the past five years, with revenue falling due to stagnant income growth following the recession. Consumer confidence in the economy sharply declined, causing consumers to sharply decrease discretionary spending on leisure and entertainment. According to the Sports and Fitness Industry Association, 56.7% of billiards participants are aged 25 to 54, a demographic group that was hard hit by the recession. Despite the gradual economic recovery in recent years, demand for pool halls continued to suffer due to low consumer confidence and high external competition. As a result, IBISWorld expects industry revenue to fall at an annualized rate of 0.4% to $ 750.0 million in the five years to 2014.
Long-term pool and billiards participation trends have negatively impacted the industry. According to Statista, a statistics firm, the number of participants in billiards and pool have fallen from a high of 51.1 million in 2007 to just 35.2 million in 2012 (latest available data). Additionally, according to Vending Times Census of the Industry survey, the number of coin-operated pool tables at bars and pool halls fell from a high of 332,000 in 2007 to 260,000 in 2010, with this downward trend estimated to continue in recent years. Although revenue slightly picked up in 2011, younger consumers have continued to turn to video games, mobile technology and other alternative entertainment options. Furthermore, as the economy recovered and consumers returned to work, time available for leisure activity also declined. According to IBISWorld Industry Analyst David Yang, These negative trends are anticipated to continue in 2014, with revenue estimated to fall 4.1%.
The Pool and Billiard Halls industry is anticipated to continue to decline over the next five years, despite improving macroeconomic conditions across the board. Pool halls are projected to contract as negative participation trends will likely continue. In particular, pool halls will continue to have difficulty attracting younger customers, who will likely have even more entertainment options available in the coming years, says Yang. Although pool halls are anticipated to depend more heavily on higher margin food, beverage and merchandise sales as a source of revenue, profit will likely remain low due to external competition and rising wage costs as operators hire more employees to serve food. Overall, IBISWorld forecasts industry revenue to fall in the five years to 2019.
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IBISWorld industry Report Key Topics
The Pool and Billiard Halls industry operates facilities where consumers can play cue sports, such as eight-ball and nine-ball. Also known as billiard halls, these facilities may also offer gaming machines, foosball, darts and other games.
Key External Drivers
Industry Life Cycle
Products & Markets
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Globalization & Trade
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