Market Insights Digital eServices Event Tickets

Music Events - Romania

Romania

Revenue in the Music Events market is projected to reach US$24.77m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.51%, resulting in a projected market volume of US$27.35m by 2028.
In the Music Events market, the number of users is expected to amount to 780.3k users by 2028.
User penetration will be 4.1% in 2024 and is expected to hit 4.2% by 2028.
The average revenue per user (ARPU) is expected to amount to US$31.86.
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

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Analyst Opinion

The Music Events market in Romania has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Music Events market in Romania have shifted towards live performances and immersive experiences. Consumers are increasingly seeking unique and memorable experiences, and music events provide an opportunity for them to connect with their favorite artists in a more intimate setting. This trend is in line with the global market, where live events have become a major source of revenue for artists and the music industry as a whole. Trends in the Music Events market in Romania include the rise of music festivals and the increasing popularity of international artists. Music festivals have gained popularity among both domestic and international tourists, attracting large crowds and boosting tourism in the country. Additionally, the presence of international artists in the Romanian music scene has expanded, with more international acts performing in the country. This trend can be attributed to the growing recognition of Romania as a vibrant and diverse music market. Local special circumstances also contribute to the development of the Music Events market in Romania. The country has a rich cultural heritage and a strong tradition of music, which provides a solid foundation for the growth of music events. Furthermore, Romania's geographical location in Eastern Europe makes it an accessible destination for artists and music lovers from neighboring countries. This has led to an increase in cross-border collaborations and the exchange of musical influences, further fueling the growth of the market. Underlying macroeconomic factors also play a role in the development of the Music Events market in Romania. The country's improving economy and rising disposable incomes have increased consumer spending on entertainment and leisure activities, including music events. Additionally, the government's support for the cultural sector and the promotion of tourism have created a favorable environment for the growth of the market. In conclusion, the Music Events market in Romania is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards live performances and immersive experiences, the rise of music festivals, the popularity of international artists, Romania's cultural heritage and geographical location, and the improving economy and government support all contribute to the development of the market.

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.