Music Events - Mozambique

Mozambique

Highlights

Revenue in the Music Events market is projected to reach US$779.70k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -0.71%, resulting in a projected market volume of US$757.90k by 2028.
In the Music Events market, the number of users is expected to amount to 236.4k users by 2028.
User penetration will be 0.6% in 2024 and is expected to hit 0.6% by 2028.
The average revenue per user (ARPU) is expected to amount to US$3.73.
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 Mozambique has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Mozambique, there has been a growing demand for live music events, with an increasing number of people attending concerts and festivals. Customers are looking for unique and immersive experiences, and music events provide an opportunity for them to connect with their favorite artists and enjoy a vibrant atmosphere. Additionally, there is a strong interest in both local and international music, leading to a diverse range of music events catering to different tastes and genres.

Trends in the market: One of the key trends in the Music Events market in Mozambique is the rise of music festivals. These events attract a large number of attendees and often feature a lineup of both local and international artists. Music festivals provide a platform for artists to showcase their talent and reach a broader audience. They also create a sense of community and excitement, with attendees coming together to celebrate music and enjoy a shared experience. Another trend in the market is the increasing use of technology in music events. This includes the integration of social media platforms, live streaming, and virtual reality experiences. These technological advancements enhance the overall event experience and allow for greater audience engagement. They also provide opportunities for artists and event organizers to reach a wider audience beyond the physical location of the event.

Local special circumstances: Mozambique's rich cultural heritage and diverse music scene contribute to the growth of the Music Events market. The country has a vibrant music industry, with a wide range of genres such as marrabenta, reggae, hip-hop, and Afrobeat. This diversity attracts both local and international artists, creating a dynamic music events scene. Additionally, the country's warm climate and beautiful landscapes make it an attractive destination for outdoor music events, further contributing to the market's growth.

Underlying macroeconomic factors: The growth of the Music Events market in Mozambique is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has resulted in a higher demand for entertainment and leisure activities, including music events. Furthermore, the government has been investing in infrastructure development, improving transportation and accessibility to different regions of the country. This has made it easier for both artists and attendees to travel to and participate in music events across Mozambique. In conclusion, the Music Events market in Mozambique is experiencing significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for live music events, the rise of music festivals, the use of technology, and the country's rich cultural heritage all contribute to the market's development. With the continued economic growth and investment in infrastructure, the Music Events market in Mozambique 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.