Market Insights Digital eServices Event Tickets

Music Events - Eastern Europe

Eastern Europe

Revenue in the Music Events market is projected to reach US$577.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.41%, resulting in a projected market volume of US$741.00m by 2028.
In the Music Events market, the number of users is expected to amount to 15.6m users by 2028.
User penetration will be 5.4% in 2024 and is expected to hit 6.5% by 2028.
The average revenue per user (ARPU) is expected to amount to US$43.96.
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

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Analyst Opinion

The Music Events market in Eastern Europe has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Eastern Europe have shown a growing interest in attending music events, with a particular focus on live performances by both local and international artists. This preference for live music experiences can be attributed to the desire for unique and memorable entertainment options. Additionally, customers in Eastern Europe are increasingly seeking out music events that offer a diverse range of genres, catering to a wide variety of musical tastes.

Trends in the market: One of the key trends in the Music Events market in Eastern Europe is the increasing number of music festivals being organized in the region. These festivals attract large crowds and offer a multi-day experience, featuring performances by popular artists across different genres. The rise of music festivals can be attributed to the growing demand for immersive and all-encompassing music experiences. Furthermore, the availability of affordable travel options within Eastern Europe has made it easier for music enthusiasts to attend festivals in different countries within the region.

Local special circumstances: Eastern Europe has a rich cultural heritage, with a long history of producing talented musicians and artists. This has contributed to the vibrant music scene in the region, with a wide range of local talent attracting both local and international audiences. Additionally, the relatively lower cost of organizing music events in Eastern Europe compared to other regions has made it an attractive destination for artists and event organizers.

Underlying macroeconomic factors: The development of the Music Events market in Eastern Europe can be attributed to several underlying macroeconomic factors. Firstly, the overall economic growth in the region has led to an increase in disposable income, allowing more individuals to spend on leisure activities such as music events. Secondly, the growing tourism industry in Eastern Europe has attracted a larger number of international visitors, who contribute to the demand for music events. Lastly, advancements in technology and social media have made it easier for event organizers to promote and market music events, reaching a wider audience and driving ticket sales. In conclusion, the Music Events market in Eastern Europe is experiencing growth and development due to customer preferences for live music experiences, the rise of music festivals, the region's rich cultural heritage, and underlying macroeconomic factors such as economic growth and advancements in technology.

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.