Event Tickets - Malawi

Malawi

Highlights

Revenue in the Event Tickets market is projected to reach US$12.65m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.14%, resulting in a projected market volume of US$16.06m by 2028.
The Music Events market has a projected market volume of US$6.01m 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$25.39 in 2024.
In the Event Tickets market, the number of users is expected to amount to 612.6k users by 2028.
User penetration in the Event Tickets market will be at 2.3% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Malawi is experiencing steady growth due to increasing customer preferences for live events and entertainment. Customers in Malawi are increasingly seeking out opportunities to attend concerts, sports events, and cultural festivals, leading to a rise in demand for event tickets.

Customer preferences: Customers in Malawi have shown a growing interest in attending live events and entertainment. The younger generation, in particular, is driving this trend, as they seek unique experiences and opportunities for socializing. Attending concerts and music festivals has become a popular way for young people to connect with their favorite artists and immerse themselves in a vibrant atmosphere. Additionally, sports events, such as football matches, are also highly anticipated by fans who enjoy the excitement and camaraderie of cheering for their favorite teams.

Trends in the market: One of the key trends in the Event Tickets market in Malawi is the increasing popularity of music concerts and festivals. Local and international artists are attracting large audiences, leading to a surge in ticket sales. This trend is driven by the desire for unique experiences and the opportunity to see renowned artists perform live. In addition, the rise of social media and online streaming platforms has made it easier for people to discover new artists and their music, further fueling the demand for live performances. Another trend in the market is the growth of sports events. Football is the most popular sport in Malawi, and matches draw large crowds of enthusiastic fans. The demand for tickets to football matches has increased as more people become interested in supporting their favorite teams and experiencing the excitement of live sports. Additionally, the growing popularity of other sports, such as basketball and volleyball, is also contributing to the overall growth of the Event Tickets market in Malawi.

Local special circumstances: Malawi has a rich cultural heritage, and cultural festivals play a significant role in the Event Tickets market. These festivals showcase traditional music, dance, and art, attracting both local and international visitors. The demand for tickets to these festivals is driven by a desire to celebrate and preserve Malawi's cultural identity. Furthermore, the government and local organizations actively promote these events to boost tourism and showcase the country's cultural diversity.

Underlying macroeconomic factors: The growing Event Tickets market in Malawi is supported by several underlying macroeconomic factors. The country's stable economic growth has led to an increase in disposable income, allowing more people to afford event tickets. Additionally, the expanding middle class in Malawi has a higher propensity to spend on leisure activities, including attending live events. Moreover, the government's investment in infrastructure development, such as the construction of modern event venues, has contributed to the growth of the Event Tickets market by providing better facilities for hosting events. In conclusion, the Event Tickets market in Malawi is experiencing steady growth due to increasing customer preferences for live events and entertainment. The demand for tickets to music concerts, sports events, and cultural festivals is on the rise, driven by a desire for unique experiences and opportunities for socializing. The government's investment in infrastructure development and the country's stable economic growth are supporting 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.