Music Events - CIS

CIS

Highlights

Revenue in the Music Events market is projected to reach US$549.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.40%, resulting in a projected market volume of US$704.50m by 2028.
In the Music Events market, the number of users is expected to amount to 14.9m users by 2028.
User penetration will be 0.00 in 2024 and is expected to hit 0.00 by 2028.
The average revenue per user (ARPU) is expected to amount to US$43.18.
In global comparison, most revenue will be generated United States (US$16.98bn in 2024).
With a projected rate of 0.0, the user penetration in the Music Events market is highest 0.0.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Music Events market in CIS has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Music Events market have shifted towards live performances and immersive experiences. Consumers are increasingly seeking out unique and memorable experiences, and music events provide an opportunity for them to connect with their favorite artists and bands in a live setting. This preference for live performances has led to an increase in demand for music festivals, concerts, and other large-scale events in the CIS region. Trends in the Music Events market in CIS include the rise of international artists and the growing popularity of local talent. International artists are increasingly including CIS countries in their world tours, recognizing the growing fan base and the potential for large audiences. This has led to an increase in the number of international music events in the region. At the same time, local talent is also gaining recognition and popularity, with many artists from CIS countries achieving success both domestically and internationally. This has resulted in a vibrant and diverse music scene, with a mix of international and local artists performing at various events. Local special circumstances in the CIS region have also contributed to the development of the Music Events market. The region has a rich cultural heritage and a strong tradition of music, which has fostered a deep appreciation for music among the local population. Additionally, the CIS region is geographically diverse, with a mix of urban and rural areas. This diversity has created opportunities for music events to cater to different audiences and preferences, leading to a wide range of events taking place across the region. Underlying macroeconomic factors have also played a role in the growth of the Music Events market in CIS. Economic growth and rising disposable incomes have increased the affordability of attending music events for many consumers. This has led to an expansion of the target market and a larger customer base for music events. Furthermore, improvements in infrastructure and technology have made it easier for event organizers to plan and execute music events, contributing to the overall growth of the market. In conclusion, the Music Events market in CIS is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The region's love for live performances, the rise of international and local talent, cultural diversity, and economic growth have all contributed to the growth and popularity of music events in the CIS region.

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.