Music Events - Northern Africa

Northern Africa

Highlights

Revenue in the Music Events market is projected to reach US$94.07m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.45%, resulting in a projected market volume of US$95.78m by 2028.
In the Music Events market, the number of users is expected to amount to 6.7m users by 2028.
User penetration will be 2.5% in 2024 and is expected to hit 2.5% by 2028.
The average revenue per user (ARPU) is expected to amount to US$14.90.
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 Northern Africa is experiencing a significant growth in recent years, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Northern Africa have contributed to the development of the Music Events market. The region has a rich cultural heritage, with music playing a vital role in the lives of its people. Music events provide a platform for individuals to come together and celebrate their shared love for music. Additionally, there is a growing demand for international music acts in Northern Africa, as residents seek to experience and engage with different musical genres and styles. Trends in the market have also played a significant role in the growth of the Music Events industry in Northern Africa. The rise of social media and digital platforms has made it easier for event organizers to promote and market their music events, reaching a wider audience and attracting more attendees. Furthermore, the increasing popularity of music festivals in the region has created a sense of community and excitement among music enthusiasts, leading to a higher demand for such events. Local special circumstances have further contributed to the development of the Music Events market in Northern Africa. The region's favorable climate allows for outdoor music events to be held throughout the year, attracting both local and international attendees. Additionally, the presence of historical and cultural landmarks in Northern Africa provides unique and picturesque settings for music events, enhancing the overall experience for attendees. Underlying macroeconomic factors have also played a role in the growth of the Music Events market in Northern Africa. Economic stability and a growing middle class have resulted in increased disposable income, allowing individuals to spend more on entertainment activities such as music events. Additionally, government initiatives and investments in the tourism sector have helped attract international music acts to the region, further boosting the Music Events market. In conclusion, the Music Events market in Northern Africa is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As the region continues to embrace and celebrate its rich musical heritage, the Music Events industry is expected to thrive, providing entertainment and cultural experiences for residents and visitors alike.

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.