The music event market was valued at $250.8 billion in 2023 and is estimated to reach $775.7 billion by 2035, exhibiting a CAGR of 10.2% from 2024 to 2035.
A music event is a gathering or occasion where musical performances are showcased for an audience. These events can range from small, intimate concerts to large-scale festivals and can feature various genres, artists, and cultural influences. Music events are not only about live performances they also incorporate elements of art, culture, and community, creating memorable experiences for attendees.
The growth of the global music event market is driven by increase in disposable income, which has enabled individuals to spend more on leisure activities, including attending music events, festivals, and concerts and increase in popularity of live music experiences. As per a 2024 study by Statista, music tours reached a record revenue of $9.17 billion in 2023 from $5.55 billion in 2022. Furthermore, social media platforms and streaming services have strengthened the connection between artists and fans, encouraging attendance at live events to see favorite performers, which significantly contributes toward the market growth.
Moreover, large-scale music festivals featuring diverse lineups and activities are increasingly popular, contributing to market growth through ticket sales, sponsorships, and merchandising. For instance, JamBase - a popular online platform dedicated to music and live events - recorded 2,184 music festivals in 2024, featuring 45,522 artists. In addition, music events that adopt eco-friendly practices and promote sustainability resonate with environmentally conscious consumers, driving attendance and support.
A blog published in 2024 by The Ticket Fairy - a next-generation event ticketing, marketing, management, intelligence and revenue acceleration platform - revealed that 69% of the respondents are attracted toward music events & festivals that offer nature-focused experiences. However, rise in penetration of streaming services and virtual concerts offers affordable and convenient alternatives to live events, which hampers the market growth.
Moreover, organizing live music events involves significant expenses, including venue rental, artist fees, technical setup, security, and marketing, which significantly restrains the growth of the global market. On the contrary, advancements on event technologies such as virtual reality, augmented reality, and advanced sound systems that enhance the event experience and attract larger and more diverse audiences are expected to offer lucrative opportunities for the expansion of the global market during the forecast period.
The global 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 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 age group, it is fragmented into below 20 years, 21 to 40 years, and above 40 years. By gender, it is bifurcated into male and female. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
A music event is a gathering or occasion where musical performances are showcased for an audience. These events can range from small, intimate concerts to large-scale festivals and can feature various genres, artists, and cultural influences. Music events are not only about live performances they also incorporate elements of art, culture, and community, creating memorable experiences for attendees.
The growth of the global music event market is driven by increase in disposable income, which has enabled individuals to spend more on leisure activities, including attending music events, festivals, and concerts and increase in popularity of live music experiences. As per a 2024 study by Statista, music tours reached a record revenue of $9.17 billion in 2023 from $5.55 billion in 2022. Furthermore, social media platforms and streaming services have strengthened the connection between artists and fans, encouraging attendance at live events to see favorite performers, which significantly contributes toward the market growth.
Moreover, large-scale music festivals featuring diverse lineups and activities are increasingly popular, contributing to market growth through ticket sales, sponsorships, and merchandising. For instance, JamBase - a popular online platform dedicated to music and live events - recorded 2,184 music festivals in 2024, featuring 45,522 artists. In addition, music events that adopt eco-friendly practices and promote sustainability resonate with environmentally conscious consumers, driving attendance and support.
A blog published in 2024 by The Ticket Fairy - a next-generation event ticketing, marketing, management, intelligence and revenue acceleration platform - revealed that 69% of the respondents are attracted toward music events & festivals that offer nature-focused experiences. However, rise in penetration of streaming services and virtual concerts offers affordable and convenient alternatives to live events, which hampers the market growth.
Moreover, organizing live music events involves significant expenses, including venue rental, artist fees, technical setup, security, and marketing, which significantly restrains the growth of the global market. On the contrary, advancements on event technologies such as virtual reality, augmented reality, and advanced sound systems that enhance the event experience and attract larger and more diverse audiences are expected to offer lucrative opportunities for the expansion of the global market during the forecast period.
The global 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 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 age group, it is fragmented into below 20 years, 21 to 40 years, and above 40 years. By gender, it is bifurcated into male and female. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
- By revenue source, the ticket segment dominated the music events market in 2023, and is anticipated to maintain its dominance from 2024 to 2035.
- On the basis of genre, the pop segment exhibited the highest growth in 2023, and is expected to continue the same trend during the forecast period.
- Depending on type, the music concert segment led the music events market in 2023, and is projected to register highest growth in the near future.
- As per age group, the 21-40 years segment emerged as the dominant force in 2023, and is likely to maintain the same trend throughout the forecast period.
- Depending on gender, the female segment grew at a notable pace in 2023, and is anticipated to maintain its dominance during the forecast period.
- Region, Europe emerged as the most lucrative market for music events market in 2023, and is expected to show robust growth throughout the forecast period.
Competitive Analysis
The key players operating in the music event market 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, Rafanelli Events, and Live Nation. These players have adopted acquisition, agreement, collaboration, joint venture, partnership, and product launch as their key developmental strategies to sustain the intense competition and gain a strong foothold in the global market.Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the music event market analysis from 2023 to 2035 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 make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the music event market segmentation assists to determine 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 the analysis of the regional as well as 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.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Singapore
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Argentina
- Rest of LAMEA
Key Market Players
- ACCESS DESTINATION SERVICES
- Anschutz Entertainment Group
- Basset Events, Inc.
- BCD GROUP
- Carlson, Inc.
- Eventbrite, Inc.
- Insomniac Holdings. LLC.
- Live Nation
- Outback Presents, LLC.
- Rafanelli Events, Inc.
- Colin Cowie Lifestyle
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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.
- Eventbrite, Inc.
- Insomniac Holdings. LLC.
- Live Nation
- Outback Presents, LLC.
- Rafanelli Events, Inc.
- Colin Cowie Lifestyle
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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