Event Tickets - Republic of the Congo

Republic of the Congo

Highlights

Revenue in the Event Tickets market is projected to reach US$3.66m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.56%, resulting in a projected market volume of US$4.89m by 2028.
The Music Events market has a projected market volume of US$1.65m in 2024.
In global comparison, most revenue will be generated United States (US$36.26bn in 2024).
The average revenue per user (ARPU) in the Event Tickets market is projected to amount to US$18.95 in 2024.
In the Event Tickets market, the number of users is expected to amount to 229.6k users by 2028.
User penetration in the Event Tickets market will be at 3.2% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Republic of the Congo is experiencing significant growth and development. Customer preferences are shifting towards attending live events, leading to increased demand for event tickets. Additionally, several trends in the market are contributing to this growth. However, there are also some local special circumstances that impact the market.

Customer preferences: Customers in Republic of the Congo are increasingly interested in attending live events, such as concerts, sports games, and cultural performances. This shift in preference can be attributed to a desire for unique experiences and the opportunity to connect with others who share similar interests. As a result, the demand for event tickets has been steadily increasing.

Trends in the market: One trend in the Event Tickets market in Republic of the Congo is the rise of online ticket sales. With the increasing availability of internet access and the convenience of online platforms, customers are opting to purchase tickets online rather than through traditional channels. This trend has led to the emergence of online ticketing platforms that cater to the specific needs of the Congolese market. Another trend is the diversification of events. Organizers are now offering a wider range of events to cater to different interests and preferences. This includes not only international acts and sporting events but also local cultural performances and festivals. This diversification has led to a more vibrant and dynamic event scene, attracting a larger audience and driving ticket sales.

Local special circumstances: One local special circumstance that impacts the Event Tickets market in Republic of the Congo is the limited availability of venues. While there is growing demand for live events, there is a shortage of suitable venues to host these events. This can lead to higher ticket prices and limited ticket availability, as organizers have to make the most of the limited venues that are available.

Underlying macroeconomic factors: The growing Event Tickets market in Republic of the Congo can be attributed to several underlying macroeconomic factors. Firstly, the country's improving economic conditions have led to an increase in disposable income, allowing more people to afford event tickets. This has expanded the potential customer base for event organizers and ticket sellers. Additionally, the government's focus on promoting tourism and cultural events has contributed to the growth of the Event Tickets market. The government has been investing in infrastructure development and marketing campaigns to attract both domestic and international tourists. This has resulted in an increase in the number of events being organized and a corresponding rise in ticket sales. In conclusion, the Event Tickets market in Republic of the Congo is experiencing significant growth and development. Customer preferences for live events, along with trends such as online ticket sales and event diversification, are driving this growth. However, the limited availability of venues poses a challenge to the market. Overall, the improving economic conditions and government support for tourism and cultural events are underlying macroeconomic factors that contribute to the development of the Event Tickets market in Republic of the Congo.

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.