The Music Events market in New Zealand has been experiencing 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: New Zealanders have a strong affinity for music and live events. They are known for their love of outdoor festivals and concerts, and are willing to spend on tickets to see their favorite artists perform live. Additionally, there is a growing interest in niche genres and underground music scenes, leading to the emergence of smaller, more intimate music events catering to specific tastes.
Trends in the market: One of the key trends in the Music Events market in New Zealand is the increasing popularity of music festivals. These multi-day events attract a large number of attendees from both within the country and internationally. They offer a diverse lineup of artists across different genres, creating a unique and immersive experience for festival-goers. The success of these festivals has led to the expansion of existing events and the creation of new ones. Another trend in the market is the rise of digital platforms for music discovery and ticket sales. Online streaming services have made it easier for consumers to discover new artists and music, leading to increased demand for live performances. Furthermore, the convenience of purchasing tickets online has made it more accessible for people to attend music events.
Local special circumstances: New Zealand's natural beauty and outdoor landscapes provide a unique backdrop for music events. The country's stunning mountains, beaches, and forests have been utilized as venues for concerts and festivals, offering attendees a one-of-a-kind experience. This has contributed to the appeal of music events in New Zealand and has attracted both local and international artists.
Underlying macroeconomic factors: The strong economy in New Zealand has played a significant role in the growth of the Music Events market. With a stable job market and increasing disposable income, consumers have more spending power to attend music events. Additionally, the tourism industry in New Zealand has been booming, attracting a large number of international visitors who are also interested in experiencing the country's music scene. In conclusion, the Music Events market in New Zealand is experiencing growth due to customer preferences for live music experiences, trends such as the popularity of music festivals and digital platforms, local special circumstances that utilize the country's natural beauty, and underlying macroeconomic factors such as a strong economy and growing tourism industry.
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.
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