Music Events - Jordan

Jordan

Highlights

Revenue in the Music Events market is projected to reach US$2.58m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.16%, resulting in a projected market volume of US$2.59m by 2028.
In the Music Events market, the number of users is expected to amount to 218.9k users by 2028.
User penetration will be 2.2% in 2024 and is expected to hit 2.2% by 2028.
The average revenue per user (ARPU) is expected to amount to US$12.03.
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 Jordan is experiencing a steady growth in recent years, driven by the increasing demand for live music performances and the growing interest in cultural events.

Customer preferences: Music events in Jordan have always been popular among the local population, with a strong preference for both traditional and contemporary music genres. Traditional Arabic music, such as oud and qanun performances, continues to be highly sought after, appealing to the deep-rooted cultural traditions of the country. At the same time, there is a growing interest in international music genres, such as pop, rock, and hip-hop, attracting a younger audience.

Trends in the market: One of the key trends in the Music Events market in Jordan is the rise of music festivals. These events bring together local and international artists, offering a diverse range of music genres and performances. Music festivals provide a unique experience for attendees, allowing them to enjoy multiple artists and genres in one setting. This trend reflects the global phenomenon of music festivals gaining popularity worldwide. Another trend in the market is the increasing collaboration between local and international artists. This not only promotes cultural exchange but also attracts a wider audience. Local artists benefit from exposure to new audiences, while international artists gain access to the local fan base. Such collaborations contribute to the growth of the Music Events market in Jordan by expanding the variety of performances and attracting a diverse audience.

Local special circumstances: Jordan's rich cultural heritage plays a significant role in the development of the Music Events market. The country's historical sites, such as the ancient city of Petra and the Roman Amphitheater in Amman, provide unique and picturesque venues for music events. These locations add a distinct charm to the performances and attract both local and international tourists. Furthermore, the government of Jordan has been actively supporting the music industry by organizing and promoting various music events. This support includes providing funding, infrastructure, and logistical assistance to both local and international artists. The government's efforts have helped create a favorable environment for the growth of the Music Events market in Jordan.

Underlying macroeconomic factors: The stable economic growth in Jordan has had a positive impact on the Music Events market. As the disposable income of the population increases, people are more willing to spend on entertainment, including attending music events. This economic stability also attracts international artists who see Jordan as a lucrative market for their performances. Additionally, the rise of social media and digital platforms has made it easier for music event organizers to promote their events and reach a wider audience. The accessibility and convenience of online ticket sales have also contributed to the growth of the Music Events market in Jordan. In conclusion, the Music Events market in Jordan is developing due to the strong customer preferences for traditional and contemporary music, the rise of music festivals, the increasing collaboration between local and international artists, the country's unique cultural heritage, government support, and the stable macroeconomic conditions. These factors combined create a thriving market for music events in Jordan.

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.