Music Events - Ivory Coast

Ivory Coast

Highlights

Revenue in the Music Events market is projected to reach US$13.27m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.29%, resulting in a projected market volume of US$16.32m by 2028.
In the Music Events market, the number of users is expected to amount to 588.8k users by 2028.
User penetration will be 1.9% in 2024 and is expected to hit 1.9% by 2028.
The average revenue per user (ARPU) is expected to amount to US$25.40.
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 Ivory Coast is experiencing significant growth and development.

Customer preferences: In Ivory Coast, there is a growing demand for music events among the population. Music plays a crucial role in the culture and daily life of Ivorians, and attending live music events is a popular form of entertainment. People in Ivory Coast enjoy a wide range of music genres, including traditional Ivorian music, Afrobeat, reggae, hip-hop, and pop. They value the opportunity to experience the energy and excitement of live performances, and are willing to spend their disposable income on tickets to music events.

Trends in the market: One of the key trends in the Music Events market in Ivory Coast is the increasing number of international artists and bands performing in the country. Ivory Coast has become a popular destination for international musicians, who recognize the country's vibrant music scene and the enthusiasm of its audience. This trend has been facilitated by the growing number of music festivals and concerts organized in Ivory Coast, which provide a platform for both local and international artists to showcase their talent. As a result, music fans in Ivory Coast now have access to a wider variety of music events and can enjoy performances by their favorite international artists without having to travel abroad. Another trend in the market is the emergence of local music events and festivals that celebrate Ivorian culture and music. These events showcase the rich musical heritage of Ivory Coast and promote local talent. They attract a large number of attendees, including both Ivorians and tourists, who are interested in experiencing the unique sounds and rhythms of Ivorian music. These local music events not only contribute to the growth of the Music Events market in Ivory Coast, but also help to preserve and promote the country's cultural identity.

Local special circumstances: Ivory Coast has a young and dynamic population, with a large percentage of the population under the age of 30. This demographic factor has a significant impact on the Music Events market, as young people are more likely to attend music events and spend money on tickets. Additionally, the government of Ivory Coast has been supportive of the music industry and has implemented policies to promote the development of the sector. This includes providing financial incentives and infrastructure support for music events and festivals.

Underlying macroeconomic factors: The growing Music Events market in Ivory Coast is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. As people have more money to spend on leisure activities, they are more likely to attend music events and concerts. Furthermore, the improving infrastructure and transportation networks in Ivory Coast have made it easier for people to travel to different cities and regions to attend music events. This has contributed to the growth and accessibility of the Music Events market in Ivory Coast.

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.