The United States Conference, Concert and Event Market will reach US$ 638.45 billion by 2032, up from US$ 408.77 billion in 2023, with a CAGR of 5.08% between 2024 and 2032. The conference, concert, and event market in the United States is growing due to rising consumer spending, technology improvements, and the growing popularity of in-person interactions. The trend toward hybrid events, the focus on sustainability, and the increased need for in-person encounters all contribute to the growth and creativity of this fast-paced industry.
Live music events are experiencing a significant resurgence in the concert industry, with crowds ready to return to venues. Modern technologies like virtual reality and improved live streaming are being incorporated to create new revenue streams and improve the concert experience.
Furthermore, organizers of events are paying more attention to diversity, sustainability, and environmental issues. They are also making sure that a range of voices are included. Data analytics is being adopted by the industry to enhance event planning and customize experiences.
Following protracted periods of social separation and online communication brought on by the COVID-19 epidemic, people's yearning for face-to-face contact has increased. Live events are experiencing a comeback because to this desire for in-person interactions.
Audiences are willing to return to places for concerts and entertainment because of the special ambiance and group spirit that live performances provide. The opportunity to interact with artists and other fans, as well as the shared experience of live music, create a compelling appeal. In a similar vein, conferences and conventions profit from this trend as professionals look for opportunities for face-to-face networking, experiential learning, and direct interaction with peers and advancements in the field. For instance, in 2022, around 28 million tickets for music events were transacted on Eventbrite, a global self-service ticketing platform for live events. Furthermore, one of the biggest trade shows, Incentive Travel, Meetings, and Events (IMEX), is held in the United States every year, drawing participation from over 3,000 businesses.
This tendency is especially helpful to concerts and live shows since people are willing to spend money on immersive, high-quality experiences that provide a change of pace from daily life. More people are attending music events more frequently and purchasing tickets at a higher rate as a result of their increased willingness to spend on entertainment.
In a similar vein, conferences and business gatherings are experiencing a comeback as businesses and professionals place a premium on in-person networking, education, and teamwork. Companies are spending more money at these events in order to network, present their technologies, and obtain an advantage over competitors.
Furthermore, the city's event calendar is jam-packed with well-known occasions, like as Broadway productions, significant music festivals like Governors Ball, and culinary and fashion displays. Following the pandemic, there has been a boom in consumer spending and high attendance at in-person events as individuals look for immersive and communal experiences.
United States Conference, Concert and Event Industry Outlook
The US conference, concert, and event industry is currently experiencing revolutionary changes and unheard-of advancements. Events serve as venues for bringing people together for a variety of purposes, such as community involvement, corporate development, celebration, and entertainment. Pent-up demand and a need for in-person connections are driving the industry's revival of in-person events. In order to increase participation and reach a wider audience, conferences and conventions are utilizing hybrid models that integrate both virtual and physical components. As organizations adjust to changing guest preferences and logistical issues, this trend is anticipated to continue.Live music events are experiencing a significant resurgence in the concert industry, with crowds ready to return to venues. Modern technologies like virtual reality and improved live streaming are being incorporated to create new revenue streams and improve the concert experience.
Furthermore, organizers of events are paying more attention to diversity, sustainability, and environmental issues. They are also making sure that a range of voices are included. Data analytics is being adopted by the industry to enhance event planning and customize experiences.
Driving Forces of United States Conference, Concert and Event Market
Increased Demand for Live Experiences
The U.S. conference, concert, and event market is experiencing substantial expansion due to an increase in demand for live events. Situated in Manchester, Tennessee, Bonnaroo is a prominent music festival featuring a varied lineup encompassing all genres, along with art installations and additional acts. Furthermore, taking place in Indio, California, Coachella is one of the world's most well-known music events. Prominent artists spanning multiple genres such as pop, hip-hop, rock, and electronic music are scheduled to perform.Following protracted periods of social separation and online communication brought on by the COVID-19 epidemic, people's yearning for face-to-face contact has increased. Live events are experiencing a comeback because to this desire for in-person interactions.
Audiences are willing to return to places for concerts and entertainment because of the special ambiance and group spirit that live performances provide. The opportunity to interact with artists and other fans, as well as the shared experience of live music, create a compelling appeal. In a similar vein, conferences and conventions profit from this trend as professionals look for opportunities for face-to-face networking, experiential learning, and direct interaction with peers and advancements in the field. For instance, in 2022, around 28 million tickets for music events were transacted on Eventbrite, a global self-service ticketing platform for live events. Furthermore, one of the biggest trade shows, Incentive Travel, Meetings, and Events (IMEX), is held in the United States every year, drawing participation from over 3,000 businesses.
Increased consumer spending
One of the main factors fueling the U.S. conference, concert, and event market's growth is rising consumer spending. Higher disposable incomes and restored consumer confidence are driving up spending on live events as the economy bounces back from the pandemic. Following extended periods of solitude, people have a great need for amusement and social connection, which makes them willing to spend money on events like concerts, conferences, and festivals.This tendency is especially helpful to concerts and live shows since people are willing to spend money on immersive, high-quality experiences that provide a change of pace from daily life. More people are attending music events more frequently and purchasing tickets at a higher rate as a result of their increased willingness to spend on entertainment.
In a similar vein, conferences and business gatherings are experiencing a comeback as businesses and professionals place a premium on in-person networking, education, and teamwork. Companies are spending more money at these events in order to network, present their technologies, and obtain an advantage over competitors.
New York Conference, Concert and Event Market
The global renown of New York City as a center of commerce and culture has created a thriving and powerful conference, concert, and event market. Many different types of events are supported by the city's vast infrastructure. Large-scale conferences, congresses, and concerts are held at prestigious locations like Madison Square Garden and the Jacob K. Javits Convention Center, drawing crowds from both domestic and foreign locations. Numerous music venues in New York City, such as Carnegie Hall and the Barclays Center, showcase a wide range of acts and genres, reflecting the city's lively cultural landscape.Furthermore, the city's event calendar is jam-packed with well-known occasions, like as Broadway productions, significant music festivals like Governors Ball, and culinary and fashion displays. Following the pandemic, there has been a boom in consumer spending and high attendance at in-person events as individuals look for immersive and communal experiences.
United States Conference, Concert and Event Company Analysis
The key players in United States Conference, Concert and Event industry are Mixhalo Inc., Live Nation Worldwide, Inc., Ticket City, Inc., Bizzabo, Eventbrite, InEvent, Inc., Maritz Holdings Inc. and Creative Group, Inc.United States Conference, Concert and Event Company News
- April 2024 - Anschutz Entertainment Group, Inc.'s AXS division purchased the majority of WRSTBND, a company that offers point-of-sale, credentialing, and access control solutions for live events and venues.
- November 2023 - Legends, a global provider of premium experiences, will purchase AEG and Onex Partners' entire ownership position in ASM Global, according to the terms of the arrangement. Legends will now own ASM Global, a significant participant in third-party venue and event management.
- October 2023 - Coca-Cola and AEG extended their longstanding partnership, marked by a multiyear renewal agreement. This collaboration includes the launch of 'Coke Studio' at Crypto.com Arena, offering immersive fan experiences and music-driven activations.
- September 2023 - In an innovative global strategic relationship, AEG and the Los Angeles Tourism & Convention Board hope to establish Los Angeles as the ultimate tourism destination.
Type - Market breakup in 7 viewpoints:
- Music Concert
- Festivals
- Sports
- Exhibition & Conferences
- Webinars
- Hybrid Events
- Others
Revenue Source - Market breakup in 3 viewpoints:
- Ticket Sale
- Sponsorship
- Others
Organizers - Market breakup in 5 viewpoints:
- Corporate
- Sports
- Education
- Entertainment
- Others
Age Group - Market breakup in 3 viewpoints:
- Below 20 Years
- 21-40 Years
- Above 41 Years
The key players have been covered from 3 viewpoints:
- Business Overview
- Key Persons
- Recent Development & Strategies
Key Players Analysis:
- Mixhalo Inc.
- Live Nation Worldwide, Inc.
- Ticket City, Inc.
- Bizzabo
- Eventbrite
- InEvent, Inc.
- Maritz Holdings Inc.
- Creative Group, Inc.
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. United States Conference, Concert and Event Market
4. Market Dynamics
6. Market Share Analysis
7. Type
8. Revenue Source
9. Organizers
10. Age Group
11. Porter’s Five Forces Analysis
12. SWOT Analysis
13. Key Players Analysis
Companies Mentioned
- Mixhalo Inc.
- Live Nation Worldwide, Inc.
- Ticket City, Inc.
- Bizzabo
- Eventbrite
- InEvent, Inc.
- Maritz Holdings Inc.
- Creative Group, Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 130 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 408.77 Billion |
| Forecasted Market Value ( USD | $ 638.45 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | United States |
| No. of Companies Mentioned | 8 |
