Music Events - Belgium

Belgium

Highlights

Revenue in the Music Events market is projected to reach US$278.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.75%, resulting in a projected market volume of US$298.70m by 2028.
In the Music Events market, the number of users is expected to amount to 1.8m users by 2028.
User penetration will be 14.9% in 2024 and is expected to hit 15.0% by 2028.
The average revenue per user (ARPU) is expected to amount to US$159.60.
In global comparison, most revenue will be generated United States (US$16.98bn in 2024).
With a projected rate of 25.8%, the user penetration in the Music Events market is highest Denmark.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Music Events market in Belgium has been experiencing significant growth in recent years, driven by changing customer preferences and a thriving local music scene.

Customer preferences: Belgian consumers have shown a growing interest in attending music events, with a particular emphasis on live performances and festivals. This trend can be attributed to several factors. Firstly, live music events provide a unique and immersive experience that cannot be replicated through digital platforms. Secondly, attending music events has become a popular social activity, allowing people to connect with friends and meet new people who share similar musical interests. Lastly, the rise of social media has contributed to the popularity of music events, as attendees can share their experiences and create a sense of FOMO (fear of missing out) among their peers.

Trends in the market: One of the key trends in the Music Events market in Belgium is the increasing number and diversity of music festivals. Belgium is known for its vibrant music scene, and festivals such as Tomorrowland, Rock Werchter, and Pukkelpop attract both local and international attendees. These festivals cater to a wide range of musical genres, ensuring that there is something for everyone. Additionally, the popularity of electronic dance music (EDM) has led to the emergence of specialized EDM festivals, further diversifying the music event landscape in Belgium. Another trend in the market is the growing demand for unique and intimate music venues. While large festivals attract a large number of attendees, there is also a demand for smaller, more intimate settings where fans can enjoy live music in a more personal and immersive environment. This trend is evident in the increasing number of small music venues and underground music scenes that have been popping up in cities like Brussels, Antwerp, and Ghent.

Local special circumstances: Belgium's central location in Europe and its well-developed transportation infrastructure make it an attractive destination for both local and international music events. The country's compact size allows attendees to easily travel between different cities and venues, making it convenient for festival-goers. Additionally, Belgium's rich cultural heritage and diverse population contribute to a vibrant and dynamic music scene, attracting artists and music enthusiasts from around the world.

Underlying macroeconomic factors: The growth of the Music Events market in Belgium is also influenced by underlying macroeconomic factors. Belgium has a stable economy and a high standard of living, which enables consumers to allocate a portion of their disposable income towards entertainment and leisure activities such as music events. Furthermore, the government's support for the arts and cultural sector through funding and favorable policies has contributed to the growth of the music events industry in Belgium. In conclusion, the Music Events market in Belgium is thriving due to changing customer preferences, the emergence of diverse music festivals, the demand for unique music venues, the country's central location in Europe, and favorable macroeconomic factors. As the market continues to evolve, it is expected that the demand for music events in Belgium will remain strong, attracting both local and international attendees.

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.