Event Tickets - Bulgaria

Bulgaria

Highlights

Revenue in the Event Tickets market is projected to reach US$31.21m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.04%, resulting in a projected market volume of US$35.18m by 2028.
The Music Events market has a projected market volume of US$12.86m 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$48.51 in 2024.
In the Event Tickets market, the number of users is expected to amount to 669.8k users by 2028.
User penetration in the Event Tickets market will be at 9.5% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Bulgaria has been experiencing significant growth in recent years. Customer preferences have shifted towards attending live events and concerts, leading to an increase in demand for event tickets. This trend can be attributed to several factors, including changing consumer behavior and the rise of social media.

Customer preferences: Customers in Bulgaria have shown a growing interest in attending live events and concerts. This can be attributed to a desire for unique experiences and the opportunity to connect with like-minded individuals. In addition, social media has played a significant role in driving customer preferences. The ability to share experiences and connect with others who have attended the same event has created a sense of community and excitement around live events.

Trends in the market: One of the key trends in the Event Tickets market in Bulgaria is the increasing popularity of music festivals. Music festivals have become a major draw for both local and international attendees. The diverse lineup of artists, combined with the unique atmosphere and communal experience, has made music festivals a highly sought-after event for customers in Bulgaria. Another trend in the market is the growing demand for sports events. Bulgaria has a strong sports culture, with football being the most popular sport. As a result, there is a high demand for tickets to football matches, as well as other sporting events such as basketball and volleyball. The enthusiasm and passion of Bulgarian sports fans have contributed to the growth of the Event Tickets market in the country.

Local special circumstances: Bulgaria's geographical location and cultural heritage have also played a role in the development of the Event Tickets market. The country is strategically located in Southeast Europe, making it easily accessible for both local and international visitors. Additionally, Bulgaria has a rich history and cultural heritage, which attracts tourists and event-goers from around the world.

Underlying macroeconomic factors: The growth of the Event Tickets market in Bulgaria can also be attributed to underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among consumers. As a result, more people are willing to spend money on leisure activities, including attending live events and concerts. In conclusion, the Event Tickets market in Bulgaria is experiencing significant growth due to changing customer preferences, including a desire for unique experiences and the influence of social media. The popularity of music festivals and sports events has also contributed to the growth of the market. Bulgaria's geographical location, cultural heritage, and strong economy have created favorable conditions for the development of the Event Tickets market in the country.

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.