Music Event Market By Revenue Source (Tickets, Sponsorship, and Others), Genre (Rock, Pop, EDM, and Others), Type (Music Festivals, Music Concerts, Music Shows, and Others), Age Group (Below 20 Years, 21 to 40 Years, and Above 40 Years), Gender (Male and Female), and Region: Opportunity Analysis and Industry Forecast, 2022–2031
The global music event market size was $226.5 billion in 2019 and is estimated to reach $481.4 billion by 2031, registering a CAGR of 9.7% from 2022 to 2031. Musical performances of singing and playing instruments in various music shows, festivals, concerts, nightclubs, and similar venues are considered music events. The global music event market is anticipated to grow significantly owing to a rise in the number of live music performances by musicians. With the downturn in recorded music sales across the globe in the past few years, musicians and artists are highly dependent on live music performances for their livelihood. This is resulting in several music concerts, and music shows globally. High demand for music events among the youth is driving the sales revenues of the music event market across the globe.
Moreover, strong economic growth in Europe and Asia-Pacific owing to rapid industrialization has resulted in a significant rise in the personal disposable income of consumers. High consumer spending on entertainment, especially among young consumers, is expected to boost the growth of the global music event market. Furthermore, the rise in music tourism is another major factor which is projected to foster the development of the market in the forthcoming years.
The rise in the penetration of m-commerce across the globe is resulting in rapid penetration of online ticket booking apps such as Ticketmaster, StubHub, and SeatGeek, significantly driving the sales of tickets for music events. Moreover, the availability of numerous personal care and cosmetics brands that usually target youngsters are investing heavily in creating brand awareness and visibility. It results in huge income for the music event organisers through sponsorships.
However, the presence of a enormous number of local and global market players in the music event industry has made it quite difficult for new players to enter the market. High infrastructure costs and fierce competition in the European market are acting as solid entry barriers for new entrants, which may hamper the growth of the global music event market.
As per the music event market analysis, the global music event market is segmented into a revenue source, genre, type, age group, gender, and region. The market is divided into tickets, sponsorships, and others by revenue source. Depending on the genre, it is divided into rock, pop, EDM, and others. Based on type, it is segregated into music festivals, concerts, shows, and others. Depending on the age group, the market is segmented into below 20 years, 21 to 40 years, and above 40 years. Based on gender, it is segregated into male and female. Region-wise, it is analysed across North America, Europe, Asia-Pacific, and LAMEA.
The report analysed key players are Access Destination Services, LLC, Anschutz Entertainment Group, Basset Events, Inc., BCD Group, Colin Cowie Lifestyle, Carlson, Inc., Eventbrite, Inc., Insomniac Holdings, LLC, Outback Presents, LLC, and Rafanelli Events.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the music event market from 2019 to 2031 to identify the prevailing music event market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the music event market segmentation assists in determining the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of the regional and global music event market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Revenue SourceTickets
Sponsorship
Others
By GenreRock
Pop
EDM
Others
By TypeMusic Festivals
Music Concerts
Music Shows
Others
By Age GroupBelow 20 Years
21 to 40 Years
Above 40 Years
By GenderMale
Female
By RegionNorth America
U.S.
Mexico
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
Singapore
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
Saudi Arabia
South Africa
United Arab Emirates
Rest of LAMEA
Key Market Players
ACCESS DESTINATION SERVICES
Anschutz Entertainment Group
Basset Events, Inc.
BCD GROUP
Carlson, Inc.
colin cowie lifestyle
Eventbrite, Inc.
Insomniac Holdings. LLC.
Outback Presents, LLC.
Rafanelli Events, Inc.
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