Music Events - Egypt

Egypt

Highlights

Revenue in the Music Events market is projected to reach US$30.55m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -2.89%, resulting in a projected market volume of US$27.17m by 2028.
In the Music Events market, the number of users is expected to amount to 2.9m users by 2028.
User penetration will be 2.6% in 2024 and is expected to hit 2.6% by 2028.
The average revenue per user (ARPU) is expected to amount to US$11.35.
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 Egypt has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Egyptian consumers have shown a growing interest in attending music events, with a particular preference for live performances by both local and international artists. This can be attributed to the cultural significance of music in Egyptian society, as well as the desire for unique and memorable experiences. Additionally, there is a strong demand for a diverse range of music genres, catering to different age groups and tastes.

Trends in the market: One of the key trends in the Music Events market in Egypt is the increasing popularity of music festivals. These large-scale events provide a platform for both established and emerging artists to showcase their talent, attracting a wide audience. Music festivals also offer a unique social and cultural experience, combining music with art, food, and other forms of entertainment. This trend is in line with the global rise of music festivals, as consumers seek immersive and multi-dimensional experiences. Another trend in the market is the growing use of technology in music events. This includes the integration of social media platforms for event promotion, ticket sales, and audience engagement. Additionally, advancements in sound and lighting technology have enhanced the overall concert experience, creating a more immersive and visually captivating atmosphere for attendees.

Local special circumstances: Egypt's rich cultural heritage and historical significance make it an attractive destination for music events. The country has a long-standing tradition of music and dance, with various genres deeply rooted in Egyptian culture. This cultural heritage, combined with Egypt's strategic location in the Middle East and North Africa region, has made it a popular choice for both local and international artists to perform. Furthermore, the government of Egypt has been actively promoting the music events industry as part of its efforts to boost tourism and attract international visitors. This includes the development of music festivals and the improvement of infrastructure to support large-scale events. These initiatives have contributed to the growth of the Music Events market in Egypt by creating a favorable environment for both event organizers and attendees.

Underlying macroeconomic factors: The growth of the Music Events market in Egypt is also influenced by underlying macroeconomic factors. The country has witnessed a period of economic stability and growth, which has led to an increase in disposable income and consumer spending. This has allowed more people to afford tickets to music events and participate in the vibrant music culture of Egypt. Additionally, the rise of digital streaming platforms and social media has made music more accessible to a wider audience. This has helped to create a larger fan base for artists and increase the demand for live performances. The convenience of online ticketing platforms has also made it easier for consumers to purchase tickets and attend music events. In conclusion, the Music Events market in Egypt is witnessing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The increasing popularity of music festivals, the use of technology in events, Egypt's cultural heritage, government support, and economic stability are all contributing to the development of a vibrant and thriving music events industry in Egypt.

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.