Music Events - Ireland

Ireland

Highlights

Revenue in the Music Events market is projected to reach US$144.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.58%, resulting in a projected market volume of US$153.30m by 2028.
In the Music Events market, the number of users is expected to amount to 827.8k users by 2028.
User penetration will be 16.2% in 2024 and is expected to hit 15.9% by 2028.
The average revenue per user (ARPU) is expected to amount to US$174.60.
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 Ireland has experienced significant growth in recent years, driven by a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Irish consumers have shown a strong preference for live music events, with a growing demand for both local and international artists. Music festivals, in particular, have become increasingly popular, attracting large crowds from all over the country. This can be attributed to the unique atmosphere and experience that music festivals offer, as well as the opportunity to see multiple artists in one location.

Trends in the market: One of the key trends in the Music Events market in Ireland is the diversification of genres and styles. While traditional Irish music continues to be popular, there has been a growing interest in other genres such as pop, rock, electronic, and hip-hop. This trend reflects the changing tastes and preferences of Irish consumers, who are increasingly open to exploring different types of music. Another trend is the rise of smaller, independent music events. These events cater to niche audiences and offer a more intimate and immersive experience. They often feature emerging artists and provide a platform for local talent to showcase their music. This trend is driven by a desire for unique and authentic experiences, as well as a growing appreciation for independent artists.

Local special circumstances: Ireland has a rich musical heritage, with a strong tradition of live music. This cultural background has contributed to the vibrant music scene in the country and has created a supportive environment for music events. Additionally, the Irish government has recognized the economic and cultural value of the music industry and has implemented policies to support its growth. This includes funding for music festivals, tax incentives for artists, and initiatives to promote Irish music abroad.

Underlying macroeconomic factors: The strong performance of the Irish economy has also played a role in the development of the Music Events market. Ireland has experienced steady economic growth in recent years, leading to increased disposable income and consumer spending. This has allowed more people to attend music events and has created a favorable market environment for organizers and artists. In conclusion, the Music Events market in Ireland has seen significant growth due to customer preferences for live music events, trends in the market such as genre diversification and the rise of independent events, local special circumstances including a rich musical heritage and government support, and underlying macroeconomic factors such as a strong economy. These factors have combined to create a thriving and dynamic music events industry in Ireland.

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.