Music Events - Central & Western Europe

Central & Western Europe

Highlights

Revenue in the Music Events market is projected to reach US$6.72bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.08%, resulting in a projected market volume of US$7.29bn by 2028.
In the Music Events market, the number of users is expected to amount to 50.8m users by 2028.
User penetration will be 15.0% in 2024 and is expected to hit 15.1% by 2028.
The average revenue per user (ARPU) is expected to amount to US$133.70.
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 Central & Western Europe is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this positive trajectory. Customer preferences play a crucial role in the development of the Music Events market in Central & Western Europe. People in this region have a strong inclination towards live music experiences and are willing to spend their leisure time and money on attending music events. The demand for diverse genres of music, ranging from classical concerts to rock festivals, has fueled the growth of this market. Additionally, customers are increasingly seeking unique and immersive experiences, leading to the rise of themed music events and interactive performances. Several trends are shaping the Music Events market in Central & Western Europe. One prominent trend is the increasing popularity of music festivals. These multi-day events attract a large number of attendees from both within the region and internationally. The festival culture has evolved to include not only music performances but also art installations, food vendors, and other entertainment options, creating a holistic experience for festival-goers. Furthermore, the use of technology in music events has become more prevalent, with the integration of virtual reality, augmented reality, and interactive digital platforms, enhancing the overall experience for attendees. Local special circumstances also contribute to the growth of the Music Events market in Central & Western Europe. The region has a rich cultural heritage and a long history of producing renowned musicians and composers. This cultural legacy creates a strong foundation for the music industry, attracting both local and international artists to perform in the region. Additionally, Central & Western Europe is known for its vibrant cities and picturesque landscapes, providing an ideal backdrop for outdoor music events and festivals. Underlying macroeconomic factors have played a significant role in the development of the Music Events market in Central & Western Europe. The region has experienced steady economic growth, resulting in increased disposable income among the population. This has led to a higher propensity to spend on leisure activities, including music events. Furthermore, the growth of the tourism industry in Central & Western Europe has contributed to the demand for music events, as tourists seek cultural experiences and entertainment during their travels. In conclusion, the Music Events market in Central & Western Europe is experiencing growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The region's inclination towards live music experiences, the popularity of music festivals, the integration of technology, and the cultural heritage of the region all contribute to the positive trajectory of this market. With the continued growth of the economy and the tourism industry, the Music Events market in Central & Western Europe is expected to thrive in the coming years.

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.