The global music event market size was $226.5 billion in 2019 and is estimated to reach $481.4 billion by 2031, registering a CAGR of 9.7% from 2022 to 2031. Musical performances of singing and playing instruments in various music shows, festivals, concerts, nightclubs, and similar venues are considered music events. The global music event market is anticipated to grow significantly owing to a rise in the number of live music performances by musicians. With the downturn in recorded music sales across the globe in the past few years, musicians and artists are highly dependent on live music performances for their livelihood. This is resulting in several music concerts, and music shows globally. High demand for music events among the youth is driving the sales revenues of the music event market across the globe.
Moreover, strong economic growth in Europe and Asia-Pacific owing to rapid industrialization has resulted in a significant rise in the personal disposable income of consumers. High consumer spending on entertainment, especially among young consumers, is expected to boost the growth of the global music event market. Furthermore, the rise in music tourism is another major factor which is projected to foster the development of the market in the forthcoming years.
The rise in the penetration of m-commerce across the globe is resulting in rapid penetration of online ticket booking apps such as Ticketmaster, StubHub, and SeatGeek, significantly driving the sales of tickets for music events. Moreover, the availability of numerous personal care and cosmetics brands that usually target youngsters are investing heavily in creating brand awareness and visibility. It results in huge income for the music event organisers through sponsorships.
However, the presence of a enormous number of local and global market players in the music event industry has made it quite difficult for new players to enter the market. High infrastructure costs and fierce competition in the European market are acting as solid entry barriers for new entrants, which may hamper the growth of the global music event market.
As per the music event market analysis, the global music event market is segmented into a revenue source, genre, type, age group, gender, and region. The market is divided into tickets, sponsorships, and others by revenue source. Depending on the genre, it is divided into rock, pop, EDM, and others. Based on type, it is segregated into music festivals, concerts, shows, and others. Depending on the age group, the market is segmented into below 20 years, 21 to 40 years, and above 40 years. Based on gender, it is segregated into male and female. Region-wise, it is analysed across North America, Europe, Asia-Pacific, and LAMEA.
The report analysed key players are Access Destination Services, LLC, Anschutz Entertainment Group, Basset Events, Inc., BCD Group, Colin Cowie Lifestyle, Carlson, Inc., Eventbrite, Inc., Insomniac Holdings, LLC, Outback Presents, LLC, and Rafanelli Events.
Moreover, strong economic growth in Europe and Asia-Pacific owing to rapid industrialization has resulted in a significant rise in the personal disposable income of consumers. High consumer spending on entertainment, especially among young consumers, is expected to boost the growth of the global music event market. Furthermore, the rise in music tourism is another major factor which is projected to foster the development of the market in the forthcoming years.
The rise in the penetration of m-commerce across the globe is resulting in rapid penetration of online ticket booking apps such as Ticketmaster, StubHub, and SeatGeek, significantly driving the sales of tickets for music events. Moreover, the availability of numerous personal care and cosmetics brands that usually target youngsters are investing heavily in creating brand awareness and visibility. It results in huge income for the music event organisers through sponsorships.
However, the presence of a enormous number of local and global market players in the music event industry has made it quite difficult for new players to enter the market. High infrastructure costs and fierce competition in the European market are acting as solid entry barriers for new entrants, which may hamper the growth of the global music event market.
As per the music event market analysis, the global music event market is segmented into a revenue source, genre, type, age group, gender, and region. The market is divided into tickets, sponsorships, and others by revenue source. Depending on the genre, it is divided into rock, pop, EDM, and others. Based on type, it is segregated into music festivals, concerts, shows, and others. Depending on the age group, the market is segmented into below 20 years, 21 to 40 years, and above 40 years. Based on gender, it is segregated into male and female. Region-wise, it is analysed across North America, Europe, Asia-Pacific, and LAMEA.
The report analysed key players are Access Destination Services, LLC, Anschutz Entertainment Group, Basset Events, Inc., BCD Group, Colin Cowie Lifestyle, Carlson, Inc., Eventbrite, Inc., Insomniac Holdings, LLC, Outback Presents, LLC, and Rafanelli Events.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the music event market from 2019 to 2031 to identify the prevailing music event market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the music event market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional and global music event market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Revenue Source
- Tickets
- Sponsorship
- Others
By Genre
- Rock
- Pop
- EDM
- Others
By Type
- Music Festivals
- Music Concerts
- Music Shows
- Others
By Age Group
- Below 20 Years
- 21 to 40 Years
- Above 40 Years
By Gender
- Male
- Female
By Region
- North America
- U.S.
- Mexico
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- Singapore
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- South Africa
- United Arab Emirates
- Rest of LAMEA
Key Market Players
- ACCESS DESTINATION SERVICES
- Anschutz Entertainment Group
- Basset Events, Inc.
- BCD GROUP
- Carlson, Inc.
- colin cowie lifestyle
- Eventbrite, Inc.
- Insomniac Holdings. LLC.
- Outback Presents, LLC.
- Rafanelli Events, Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MUSIC EVENT MARKET, BY REVENUE SOURCE
CHAPTER 5: MUSIC EVENT MARKET, BY GENRE
CHAPTER 6: MUSIC EVENT MARKET, BY TYPE
CHAPTER 7: MUSIC EVENT MARKET, BY AGE GROUP
CHAPTER 8: MUSIC EVENT MARKET, BY GENDER
CHAPTER 9: MUSIC EVENT MARKET, BY REGION
CHAPTER 10: COMPETITIVE LANDSCAPE
CHAPTER 11: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the music event market was valued at $152.20 billion in 2021, and is estimated to reach $481.4 billion by 2031, growing at a CAGR of 9.7% from 2022 to 2031.A music event is any special event with performances of instrument playing and singing, generally presented based on various themes such as music genre, locality of musicians, and nationality. Music shows, concerts, and music festivals are popular examples of music events. For the purpose of analysis, the music event market scope covers segmentation based on revenue source, genre, type, age group, gender, and region.
Key factors driving the growth of the music event market include the surge in music tourism, live music events are expected to boost market growth. Improvement in economic condition and upsurge in disposable income are significant factors that propel the growth of the music event market. After the 2009 economic crisis in Europe and China, the global economy has witnessed a standstill. However, a strong recovery from the crisis resulted in strong economic growth, especially in developing economies, and has led to an increase in disposable income among the middle-income groups, consequentially adding to the middle-class population. In addition, disposable income of individuals in North America and Asia-Pacific has witnessed a significant increase, thus acting as a major driver of the industry, as medium- and high-income consumers in urban areas are shifting the trend from essential products & services to entertainment and better experience services. This trend boosts the growth of the music event market, thus enhancing service offering across various segments at a global level.
Organizing an event involves multiple expenses, which include on-site expenses, venue costs, event rentals, and production expenses. On-site expenditure involves fees and cost charged by the event venue, which incur more cost. In addition, venue cost includes security deposit, room rental, insurance coverage, and parking. Another major cost involved in organizing a music event is the production cost, involving the expense of organizing the event, management of administrative elements, and attracting attendees. Thus, high operational cost involved in organizing music events is a key factor that hampers the growth of the global music event market.
The developed regions such as North America and Europe are characterized with the presence of strong and advanced infrastructure that significantly propels the growth of the events and tourism industry. Rise in government investments toward the infrastructural development is expected to benefit the music event market. For instance, the European Commission aimed at investing around $337 billion in global infrastructure development by 2027. This investment plan of the European Commission will be aimed toward the infrastructural development of five key sectors around the globe, digital, transport, energy, health, and education. These investments are likely to benefit Europe as well as the globe by focusing toward sustainable development. The infrastructural developments are expected to have a positive impact on the music event industry across Europe and the globe as well. The development of digital infrastructure is anticipated to boost the growth of virtual music events during the forecast period.
According to The music event market is segmented into revenue source, genre, type, age group, gender, and region. By revenue source, the market is divided into tickets, sponsorships, and others. Depending on the genre, it is divided into rock, pop, EDM, and others. On the basis of type, it is segregated into music festivals, music concerts, music shows, and others. Depending on the age group, the market is segmented into below 20 years, 21 to 40 years, and above 40 years. As per gender, it is segregated into male and female. Region wise, the music event market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the music event market analysis include Access Destination Services, LLC, Anschutz Entertainment Group, Basset Events, Inc., BCD Group, Colin Cowie Lifestyle, Carlson, Inc., Eventbrite, Inc., Insomniac Holdings, LLC, Outback Presents, LLC, and Rafanelli Events.
Key Market Insights
By revenue source, the tickets segment was the highest revenue contributor to the market and is estimated to reach $349.9 billion by 2031, with a CAGR of 9.5%. However, the sponsorship segment is estimated to be the fastest-growing segment with a CAGR of 10.5% during the forecast period.By genre, the pop segment dominated the global market and is estimated to reach $149.1 billion by 2032, with a CAGR of 9.3%. However, the EDM segment is expected to be the fastest-growing segment during the music event market forecast.
Based on the type, the music concerts segment were the highest revenue contributor to the market, with $54.8 billion in 2021, and is estimated to reach $167 billion by 2031, with a CAGR of 9.3%.
By gender, the male segment was the highest revenue contributor to the market and is estimated to reach $243.2 billion by 2031, with a CAGR of 9.6%. However, the female segment is estimated to be the fastest-growing segment with a CAGR of 9.8% during the forecast period.
Based on region, Europe was the highest revenue contributor, accounting for $56.9 billion in 2021, and is estimated to reach $159.3 billion by 2031, with a CAGR of 8.4%.
Companies Mentioned
- ACCESS DESTINATION SERVICES
- Anschutz Entertainment Group
- Basset Events, Inc.
- BCD GROUP
- Carlson, Inc.
- colin cowie lifestyle
- Eventbrite, Inc.
- Insomniac Holdings. LLC.
- Outback Presents, LLC.
- Rafanelli Events, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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