Music Events - Finland

Finland

Highlights

Revenue in the Music Events market is projected to reach US$125.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.59%, resulting in a projected market volume of US$133.70m by 2028.
In the Music Events market, the number of users is expected to amount to 1.2m users by 2028.
User penetration will be 20.9% in 2024 and is expected to hit 21.0% by 2028.
The average revenue per user (ARPU) is expected to amount to US$107.80.
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 Finland is experiencing significant growth and development, driven by several key factors. Customer preferences for live music experiences, the emergence of new trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the positive trajectory of the Music Events market in Finland.

Customer preferences: Finnish consumers have shown a strong preference for live music events, with a growing demand for unique and immersive experiences. They seek out concerts and festivals that offer a diverse range of genres and attract both local and international artists. This preference for live music is fueled by the desire for social interaction, a sense of community, and the opportunity to connect with artists on a more personal level.

Trends in the market: One notable trend in the Music Events market in Finland is the rise of boutique festivals. These smaller-scale events cater to niche audiences and offer a more intimate and curated experience. They often focus on specific music genres or themes, allowing attendees to fully immerse themselves in a particular style of music. This trend reflects the growing demand for personalized and unique experiences in the music industry. Another trend is the integration of technology in music events. From interactive stages to virtual reality experiences, technology is being utilized to enhance the overall concert experience. This trend not only appeals to tech-savvy consumers but also provides new opportunities for artists and event organizers to engage with their audience in innovative ways.

Local special circumstances: Finland's vibrant music scene and strong support for the arts contribute to the growth of the Music Events market. The country has a rich musical heritage, with a wide range of talented local artists and bands. Finnish consumers take pride in supporting their local music industry and attending concerts and festivals featuring homegrown talent. This support fosters a thriving music ecosystem and encourages the growth of the Music Events market in Finland.

Underlying macroeconomic factors: The strong economy and high disposable income levels in Finland also contribute to the development of the Music Events market. With a stable economy and low unemployment rates, consumers have more financial resources to spend on leisure activities, including music events. This favorable economic environment provides a solid foundation for the growth of the Music Events market in Finland. In conclusion, the Music Events market in Finland is experiencing growth and development due to customer preferences for live music experiences, the emergence of new trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for unique and immersive music events, the rise of boutique festivals, the integration of technology, and the support for the local music scene all contribute to the positive trajectory of the Music Events market in Finland.

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.