Event Tickets - Brunei Darussalam

Brunei Darussalam

Highlights

Revenue in the Event Tickets market is projected to reach US$1.03m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.59%, resulting in a projected market volume of US$1.09m by 2028.
The Music Events market has a projected market volume of US$406.00k in 2024.
In global comparison, most revenue will be generated United States (US$36.26bn in 2024).
The average revenue per user (ARPU) in the Event Tickets market is projected to amount to US$35.08 in 2024.
In the Event Tickets market, the number of users is expected to amount to 31.8k users by 2028.
User penetration in the Event Tickets market will be at 6.5% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Brunei Darussalam is experiencing steady growth due to various factors.

Customer preferences: Customers in Brunei Darussalam have shown a strong preference for attending live events and entertainment, which has contributed to the growth of the Event Tickets market. The population in Brunei Darussalam has a high level of disposable income and a growing interest in leisure activities. As a result, there is a growing demand for tickets to concerts, sports events, theater performances, and other live entertainment experiences.

Trends in the market: One of the key trends in the Event Tickets market in Brunei Darussalam is the increasing popularity of international artists and performers. Brunei Darussalam has been attracting a growing number of international acts, which has led to a surge in demand for tickets to these events. Additionally, there is a growing trend of event organizers partnering with local venues and promoters to bring in popular international acts, further driving the demand for tickets. Another trend in the market is the rise of online ticketing platforms. Customers in Brunei Darussalam are increasingly using online platforms to purchase tickets for events. This trend is driven by the convenience and ease of use offered by online ticketing platforms, as well as the ability to compare prices and choose from a wide range of events. Online ticketing platforms also provide customers with the option to purchase tickets in advance, ensuring that they do not miss out on popular events.

Local special circumstances: Brunei Darussalam has a relatively small population compared to other countries in the region, which limits the size of the Event Tickets market. However, the high disposable income of the population and the strong interest in live entertainment help to sustain the market. Additionally, the government of Brunei Darussalam has been actively promoting the country as a destination for international events, which has further boosted the demand for tickets.

Underlying macroeconomic factors: The stable economic growth in Brunei Darussalam has had a positive impact on the Event Tickets market. The country has a high GDP per capita and a low unemployment rate, which has resulted in a higher level of disposable income for the population. This has allowed more people to afford tickets to events and has contributed to the growth of the market. In conclusion, the Event Tickets market in Brunei Darussalam is growing steadily due to the preferences of customers for live entertainment, the increasing popularity of international acts, the rise of online ticketing platforms, the small population size, the government's promotion of the country as a destination for events, and the stable macroeconomic factors.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.