The global music events tickets market size was valued at USD 5.21 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 18.4% from 2021 to 2028. The significant growth in the music events sector across the globe is one of the major factors propelling the market growth. The growing popularity of music artists, coupled with talent shows, further contributes to the industry demand. Moreover, significant adoption of digital tickets, coupled with the growing penetration of smart devices and the internet across the globe, is projected to provide ample growth opportunities to the market. However, the growing adoption of online music streaming is projected to hamper the market growth during the forecast period.
The rising growth in the live music industry across the globe is further projected to propel the market growth during the forecast period. North America has a long-standing tradition of music festivals, with events such as the Festival de Jazz, Francofolies, and Osheaga in Montreal and North by Northeast and Canadian Music Week in Toronto. Moreover, significant growth in advertisement and offers provided by online ticketing companies play a crucial role in increasing the sale that further contributes to the growth of the market. Along with that, various benefits such as easy availability, convenience, and a smooth buying process further encourage the consumers towards online ticket booking for music events. This is projected to be the crucial factor for the market growth over the forecast period.
Due to the Covid-19 pandemic, most of the live music events were canceled across the globe that impacted the market growth negatively. For instance, Shambhala Music Festival 2020, which was scheduled for July 24-27, 2020, was canceled due to the COVID outbreak. Along with that, Dead & Company has canceled their live performances during the COVID-19. This resulted in a loss to the live event, ticket-providing companies, and associated members as they have invested a significant amount in promotions and activations. Therefore, these cancellations of the live music events during the COVID-19 further impacted the revenue from the sales of the event tickets across the globe.
The digital tickets segment held the largest revenue share of over 70.0% in 2020. The significant demand for e-tickets, coupled with the growing penetration of smartphones, is driving the market. Increased use of the internet and the growing trend of using mobile applications for booking live event tickets online are projected to support the segment growth. Consumers have shown an inclination towards online printable tickets to avoid the crowd while standing in large queues, which further supports the market growth during the forecast period. Moreover, the exciting offers and discounts provided by the online payment partners and events tickets companies during payments further attract consumers towards online booking for music events, thereby contributing to the market growth.
The online printable tickets segment is expected to expand at a CAGR of 18.2% from 2021 to 2028. The growing inclination of consumers towards convenient ticket options as compared to paper to avoid ticket collection is significantly contributing to the segment growth. Moreover, the widespread outbreak of the COVID-19 virus across the globe is projected to increase the demand for online printable tickets to avoid human contact at the collection point. Additionally, the advancements in automated ticketing software further increase the demand for online printable tickets as the consumers easily print their tickets by following the instructions through online booking websites.
North America dominated the market and held a revenue share of over 40.0% in 2020. The U.S. is positively contributing to the growth of the regional market. The presence of well-established event ticket providers such as Live Nation and Eventbrite is one of the key factors fueling the market growth. The presence of popular music celebrities in the U.S. and the highest consumer spending on live music events are the factors responsible for the market growth. Smartphone-based event ticketing services are projected to arise as a key revenue-generating segment due to consumer accessibility and convenience, which will eventually boost the regional market growth in the years to come.
Asia Pacific is expected to register the highest CAGR of 19.7% from 2021 to 2028. China and India are positively contributing to the growth of the market. The major factors that are propelling the market growth in the region include the growing live music industry, rising per capita income, swelling middle-class population, and increasing disposable income. Additionally, significant growth in the popularity of music artists, coupled with growing digitalization in China and India, is supporting the market growth. Moreover, the rising smartphone sales across China, India, and other emerging economies are projected to provide ample growth opportunities to the market.
The industry for music event ticket is always changing and updating. In order to stay head-on in the market, key players tend to launch new strategies more frequently. Market players are focusing on increasing investments in R&D in order to innovate new and attractive solutions for the consumers for ease of purchasing event tickets. Moreover, major players are targeting new regions and demographics to increase the sales of the products, by either entering the new market solely or by collaborating with local music events companies across the globe. Some prominent players in the global music events tickets market include:
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Report Attribute |
Details |
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Market size value in 2021 |
USD 5.57 billion |
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Revenue forecast in 2028 |
USD 18.17 billion |
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Growth Rate |
CAGR of 18.4% from 2021 to 2028 |
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Base year for estimation |
2020 |
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Historical data |
2017 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, region |
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Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
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Country scope |
U.S.; Germany; France, U.K.; China; India; Japan; Brazil; South Africa |
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Key companies profiled |
Ace Ticket Worldwide, Inc.; AXS Group LLC; Bigtree Entertainment Pvt. Ltd.; StubHub; Live Nation (Ticket Master); RED ROCKS; Brown Paper Tickets, LLC; Eventbrite; Razorgator, LLC; Ticketek Pty Ltd.; SeatGeek; Inc.; Ticket City, Inc. |
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Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global music event ticket market report on the basis of type and region:
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