Market Insights Digital eServices Event Tickets

Music Events - Americas

Americas

Revenue in the Music Events market is projected to reach US$18.78bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.98%, resulting in a projected market volume of US$20.31bn by 2028.
In the Music Events market, the number of users is expected to amount to 104.2m users by 2028.
User penetration will be 10.1% in 2024 and is expected to hit 10.0% by 2028.
The average revenue per user (ARPU) is expected to amount to US$182.40.
In global comparison, most revenue will be generated in the United States (US$16,980.00m in 2024).
With a projected rate of 25.8%, the user penetration in the Music Events market is highest in Denmark.

Key regions: India, Japan, Europe, China, Asia

Market

Region

Region comparison

Currency

Analyst Opinion

The Music Events market in Americas is experiencing significant growth and development in recent years.

Customer preferences: Customers in the Americas have shown a strong preference for live music events, with a growing demand for a wide variety of genres and artists. Music festivals have become increasingly popular, attracting large crowds and offering a unique experience for music enthusiasts. Customers are also seeking more immersive and interactive experiences, with events incorporating elements such as virtual reality, augmented reality, and interactive installations. Additionally, there is a growing trend of customers seeking out smaller, intimate venues for live music performances, providing a more personal and intimate setting for both the audience and the artists.

Trends in the market: One of the key trends in the Music Events market in Americas is the rise of music festivals. These events have become major attractions, drawing in both local and international attendees. Music festivals offer a diverse range of performances, catering to various musical tastes and preferences. They provide an opportunity for music lovers to discover new artists, enjoy live performances, and connect with like-minded individuals. The popularity of music festivals can be attributed to the unique atmosphere they create, combining music, art, food, and community. Another trend in the market is the increasing use of technology to enhance the music event experience. This includes the integration of social media platforms, mobile applications, and streaming services. Technology allows customers to easily discover and access information about upcoming events, purchase tickets online, and share their experiences with others. It also enables event organizers to reach a wider audience and create a more engaging and interactive experience for attendees.

Local special circumstances: The Americas is a diverse region with a rich musical heritage and a vibrant music scene. Each country within the region has its own unique musical traditions and preferences, which influence the types of music events that are popular. For example, Latin American countries have a strong tradition of dance and rhythm, leading to a high demand for music events that feature genres such as salsa, reggaeton, and samba. In North America, there is a wide range of musical genres and subcultures, resulting in a diverse and dynamic music event landscape.

Underlying macroeconomic factors: The growth of the Music Events market in Americas can be attributed to several underlying macroeconomic factors. Firstly, the region has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed more people to attend music events and invest in experiences that bring them joy and entertainment. Additionally, the rise of social media and digital platforms has made it easier for event organizers to promote their events and reach a wider audience, contributing to the growth of the market. Finally, the Americas is home to a large and diverse population, providing a large customer base and a strong demand for music events.

Methodology

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.