Event Tickets - Colombia

Colombia

Highlights

Revenue in the Event Tickets market is projected to reach US$214.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.29%, resulting in a projected market volume of US$243.60m by 2028.
The Sport Events market has a projected market volume of US$112.00m 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$52.37 in 2024.
In the Event Tickets market, the number of users is expected to amount to 4.3m users by 2028.
User penetration in the Event Tickets market will be at 7.9% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Colombia is experiencing significant growth and development. Customer preferences are shifting towards more experiential forms of entertainment, leading to an increased demand for event tickets. In addition, local special circumstances and underlying macroeconomic factors are contributing to the market's expansion. Customer preferences in Colombia are increasingly focused on unique and memorable experiences. Rather than spending money on material possessions, consumers are prioritizing experiences that allow them to create lasting memories. This shift in preferences has led to a surge in demand for event tickets, as attending concerts, sporting events, and other live performances provides individuals with the opportunity to immerse themselves in the moment and enjoy shared experiences with others. Trends in the market reflect this growing demand for event tickets. Concerts by both local and international artists are consistently selling out, showcasing the popularity of live music in Colombia. Sporting events, such as soccer matches, are also drawing large crowds, with fans eager to support their favorite teams. Additionally, cultural events and festivals are gaining traction, as they offer a unique blend of entertainment and cultural immersion. Local special circumstances in Colombia contribute to the development of the Event Tickets market. The country's rich cultural heritage and diverse population create a vibrant and dynamic entertainment scene. Colombian artists, musicians, and performers are gaining international recognition, attracting both local and international audiences. Moreover, the government has been actively promoting tourism and cultural events, further stimulating the demand for event tickets. Underlying macroeconomic factors also play a role in the growth of the Event Tickets market in Colombia. The country's economy has been steadily improving, leading to an increase in disposable income. As individuals have more money to spend on leisure activities, they are more willing to invest in event tickets. Furthermore, the rise of digital platforms and online ticketing services has made it easier for consumers to access and purchase event tickets, contributing to the market's expansion. In conclusion, the Event Tickets market in Colombia is experiencing significant growth and development due to shifting customer preferences towards experiential entertainment, local special circumstances that foster a vibrant entertainment scene, and underlying macroeconomic factors such as improved disposable income and digital advancements. As the market continues to evolve, it is expected to provide new and exciting opportunities for both consumers and businesses in Colombia.

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.