Market Insights Digital eServices Event Tickets

Music Events - North America

North America

Revenue in the Music Events market is projected to reach US$18.27bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.95%, resulting in a projected market volume of US$19.74bn by 2028.
In the Music Events market, the number of users is expected to amount to 90.8m users by 2028.
User penetration will be 17.6% in 2024 and is expected to hit 17.3% by 2028.
The average revenue per user (ARPU) is expected to amount to US$203.10.
In global comparison, most revenue will be generated in the United States (US$16,980.00m in 2024).
With a projected rate of 25.8%, the user penetration in the Music Events market is highest in Denmark.

Key regions: India, Japan, Europe, China, Asia

Market

Region

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Currency

Analyst Opinion

The Music Events market in North America has been experiencing significant growth in recent years.

Customer preferences: Customers in North America have shown a strong preference for live music events, with a growing demand for a diverse range of genres and artists. The popularity of music festivals has also been on the rise, with attendees seeking a unique and immersive experience. Additionally, there is a growing trend of consumers valuing sustainability and eco-friendly practices in music events, leading to an increased demand for environmentally conscious festivals.

Trends in the market: One notable trend in the North American Music Events market is the increasing use of technology to enhance the overall experience. Event organizers are incorporating virtual reality (VR) and augmented reality (AR) technologies to create interactive and immersive environments for attendees. This trend is driven by the desire to offer a unique and memorable experience that goes beyond just watching a performance. Another trend is the rise of niche music events catering to specific genres or subcultures. These events provide a platform for emerging artists and allow attendees to connect with like-minded individuals who share similar musical interests. This trend reflects the growing demand for personalized and curated experiences in the music industry.

Local special circumstances: The North American Music Events market is characterized by a high level of competition, with numerous cities vying to become the go-to destination for music events. Cities such as Los Angeles, New York, and Nashville have established themselves as major music hubs, attracting both local and international artists. These cities offer a vibrant music scene, state-of-the-art venues, and a supportive infrastructure that contributes to the growth of the market.

Underlying macroeconomic factors: The growth of the Music Events market in North America can be attributed to several underlying macroeconomic factors. Firstly, the region has a strong and stable economy, which provides consumers with disposable income to spend on entertainment and leisure activities. Additionally, the rise of streaming platforms and digital music services has made music more accessible, leading to increased interest in live events. Furthermore, the North American Music Events market benefits from a well-developed transportation network, making it easier for attendees to travel to different cities and attend multiple events. This accessibility contributes to the overall growth and expansion of the market. In conclusion, the Music Events market in North America is experiencing significant growth due to customer preferences for live music experiences, the incorporation of technology to enhance events, the rise of niche music events, and the presence of major music hubs. These trends are supported by a strong economy, increased accessibility to music, and a well-developed transportation network. As the market continues to evolve, it is likely that we will see further innovation and expansion in the North American Music Events industry.

Methodology

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.