Music Events - Kazakhstan

Kazakhstan

Highlights

Revenue in the Music Events market is projected to reach US$13.59m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.52%, resulting in a projected market volume of US$13.88m by 2028.
In the Music Events market, the number of users is expected to amount to 783.8k users by 2028.
User penetration will be 4.1% in 2024 and is expected to hit 4.1% by 2028.
The average revenue per user (ARPU) is expected to amount to US$18.26.
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 Kazakhstan is experiencing significant growth and development in recent years.

Customer preferences: Kazakhstan has a vibrant and diverse music scene, with a strong preference for both local and international music events. The younger population in particular is highly enthusiastic about attending live music events, and there is a growing demand for a wide range of music genres including pop, rock, hip-hop, and electronic music. Furthermore, music festivals have gained immense popularity among music lovers in Kazakhstan, with an increasing number of people attending these multi-day events.

Trends in the market: One of the key trends in the Music Events market in Kazakhstan is the increasing number of international artists and bands performing in the country. This trend can be attributed to the growing recognition of Kazakhstan as a major destination for music events in Central Asia. The presence of world-class concert venues and the government's efforts to promote the country as a cultural hub have attracted renowned artists to include Kazakhstan in their tour schedules. Additionally, the emergence of social media platforms and online ticketing services has made it easier for event organizers to promote and sell tickets for music events, resulting in increased attendance and revenue.

Local special circumstances: Kazakhstan's geographical location and its cultural diversity contribute to the unique music events market in the country. Being situated at the crossroads of Europe and Asia, Kazakhstan has been influenced by a variety of music styles and traditions. This diversity is reflected in the music events held in the country, with a mix of both traditional and contemporary performances. The government's support for cultural activities and the development of infrastructure for music events have also played a significant role in shaping the market.

Underlying macroeconomic factors: The growing economy of Kazakhstan has had a positive impact on the Music Events market. As disposable incomes increase, more people are willing to spend money on entertainment and leisure activities, including attending music events. Furthermore, the government's efforts to promote tourism and attract foreign investment have resulted in an influx of visitors to the country, contributing to the demand for music events. The stability of the political environment and the overall improvement in living standards have also created a conducive environment for the growth of the music events market in Kazakhstan. In conclusion, the Music Events market in Kazakhstan is witnessing significant growth and development, driven by customer preferences for live music events, the increasing number of international artists performing in the country, the unique cultural circumstances, and the underlying macroeconomic factors. With the continued support from the government and the growing popularity of music festivals, the market is expected to further expand in the coming years.

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.