Event Tickets - Lithuania

Lithuania

Highlights

Revenue in the Event Tickets market is projected to reach US$51.45m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.37%, resulting in a projected market volume of US$56.50m by 2028.
The Music Events market has a projected market volume of US$26.69m 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$112.90 in 2024.
In the Event Tickets market, the number of users is expected to amount to 464.0k users by 2028.
User penetration in the Event Tickets market will be at 17.4% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Lithuania has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Event Tickets market in Lithuania have shifted towards experiential activities and live events. Consumers are increasingly seeking unique and memorable experiences, and attending events such as concerts, sports games, and festivals provides them with the opportunity to do so. This preference for experiences over material possessions has contributed to the growth of the Event Tickets market in Lithuania. Trends in the market also play a key role in its development. One notable trend is the increasing popularity of music festivals in Lithuania. These events attract both local and international attendees, and offer a diverse range of music genres and performances. The rise of music festivals has created a demand for event tickets, driving the growth of the market. Additionally, there has been a growing interest in sports events, particularly football matches, which has further contributed to the expansion of the Event Tickets market in Lithuania. Local special circumstances have also influenced the development of the Event Tickets market in Lithuania. The country's relatively small population and limited number of venues for events have created a sense of exclusivity and scarcity, leading to increased demand for event tickets. This has resulted in higher prices and a competitive market, as consumers are willing to pay a premium to secure tickets for their desired events. Underlying macroeconomic factors have also played a role in the growth of the Event Tickets market in Lithuania. The country's improving economy and rising disposable incomes have allowed consumers to allocate a larger portion of their budget towards leisure activities, including attending events. Additionally, the increasing number of tourists visiting Lithuania has contributed to the demand for event tickets, as travelers seek to experience the local culture and entertainment scene. In conclusion, the Event Tickets market in Lithuania is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards experiential activities, the popularity of music festivals and sports events, the sense of exclusivity and scarcity, and the improving economy and rising disposable incomes are all contributing to the growth of the market.

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.