Music Events - EU-27

EU-27

Highlights

Revenue in the Music Events market is projected to reach US$6.70bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.95%, resulting in a projected market volume of US$7.24bn by 2028.
In the Music Events market, the number of users is expected to amount to 55.6m 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$122.20.
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 EU-27 has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences play a crucial role in the growth of the Music Events market in EU-27. Music lovers in this region have shown a strong inclination towards live performances and concerts. They seek immersive experiences that allow them to connect with their favorite artists on a more personal level. As a result, there has been a surge in demand for music events that offer unique and memorable experiences. Trends in the market have also contributed to the growth of the Music Events market in EU-27. One notable 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. Music festivals provide a platform for artists to showcase their talent and for attendees to enjoy a diverse range of music genres in a vibrant and energetic atmosphere. Local special circumstances have further fueled the growth of the Music Events market in EU-27. The region is home to a rich cultural heritage and diverse music scenes. This has led to the emergence of niche music events that cater to specific genres or subcultures. These events attract a dedicated fan base and contribute to the overall growth of the market. Underlying macroeconomic factors have also played a significant role in the development of the Music Events market in EU-27. Economic stability and increasing disposable incomes have allowed individuals to allocate a larger portion of their spending towards entertainment and leisure activities. This has resulted in a higher demand for music events and contributed to the growth of the market. In conclusion, the Music Events market in EU-27 has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The region's music lovers' preference for live performances, the popularity of music festivals, the presence of niche music events, and favorable economic conditions have all contributed to the expansion of the market.

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.