Music Event Market to Hit $775.7 Billion with 10.2% CAGR to 2035; Europe Dominates Revenue

According to a new report published by Allied Market Research, titled, "Music Event Market Size, Share, Competitive Landscape and Trend Analysis Report, by Revenue Source, by Genre, by Type, by Age Group, by Gender : Global Opportunity Analysis and Industry Forecast, 2024-2035". The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future. The music event market was valued at $250.80 billion in 2023, and is estimated to reach $775.7 billion by 2035, growing at a CAGR of 10.2% from 2024 to 2035.

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An increase in consumer demand for unique, immersive live experiences has driven the growth of the music event market. Advances in event technology, such as high-definition sound systems, improved lighting, and virtual reality, are enhancing the overall concert experience, making live performances more engaging and memorable. The rise of social media platforms and streaming services contributes by creating wider exposure to events and artists, helping promoters reach global audiences and encouraging real-time interactions. Collaborations between artists, brands, and event organizers have led to the development of large-scale festivals and events, attracting more attendees and driving the market growth. The growing popularity of niche genres and music festivals, such as electronic dance music (EDM) festivals, has further fueled market growth.

Music events are live or virtual gatherings where performers showcase their musical talent to audiences, serving as a pillar of the entertainment industry. These events have various formats, including concerts, music festivals, talent shows, club performances, and private or corporate gatherings, catering to diverse genres such as pop, rock, jazz, classical, and electronic dance music (EDM). They hold significant cultural importance by promoting music as an art form and reflecting societal trends. Economically, music events generate substantial revenue through ticket sales, sponsorships, merchandise, and tourism, while also promoting social engagement by bringing fans together to connect with artists and each other. Innovations such as livestreaming, augmented reality (AR), and virtual reality (VR) have expanded their accessibility, thus enabling global participation and boost in music event market share.

The global music event market segmentation is done on the basis of 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.

According to type, the music event market was dominated by the music concerts segment in 2023. Rise in number of live music performances across the globe by numerous popular musicians is resulting in the hosting of huge number of music concerts, thus driving music event market demand. According to Live Nation Entertainment, a leading player in the music event market, ticket sales were up by 45% and the concert pipeline is up by 30% in 2022.

Depending on revenue source, the sponsorships segment is expected to witness the highest growth. This growth is attributed to rise in number of product launches by various existing giant corporations and start-ups that seek to increase their brand value and create brand awareness among the youth population. Sponsorship is one of the major sources of any music event that helps the organizers to cover their rising costs of hosting events.

By genre, the pop segment dominated the market in 2023. Huge popularity of the pop genre among the youth population across the globe has led to the significant growth of the market. As per the Music Consumer Insight Report 2018 by the International Federation of the Phonographic Industry (IFPI), around 64% of the global population typically listens to pop music.

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Depending on the age group, the market was led by the 21 to 40 years segment in 2023. This is the youth and the working population, who spend a significant portion of their disposable income on entertainment. Moreover, the rising popularity of nightclubs, raves, and bars among this age group is boosting the sales revenue of the music event market size across the globe.

On the basis of gender, the female segment is expected to register the fastest growth, owing to rise in women participation in entertainment industry. The improving gender ratios in the developing nations and rising awareness regarding women empowerment and freedom has opened opportunities for the female population to participate in the music event market share.

Region wise, Europe was the leading music event market with highest revenue in 2023. The presence of well-established infrastructure and connectivity, number of globally popular music festivals, rise in music tourism, and rise in adoption of digital technologies are the prominent factors that are significantly contributing toward the Europe music event market growth.

Leading Market Players: -

➢ 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
➢ Live Nation

Analyst Review:

According to the top CXOs, the live music will be the major driver of the music event industry. Leading live music event organizers are focusing on customer satisfaction and are coming up with various mobile applications to offer improved accessibility and convenience to the customers. Moreover, they are offering tickets along with the merchandises and accommodation to the consumers. Furthermore, event organizers are engaged in partnering with the online ticket providers as majority of the youth population are using their smartphones to book tickets for music events.
Moreover, rise in investments by the government for developing infrastructure and improvement in connectivity are expected to play a major role in the growth of the music event market. The governments in the developing regions such as Asia-Pacific, the Middle East, and Africa are investing in the development of infrastructure and connectivity such as airways, railways, and roadways.

Furthermore, the rising penetration of the 5G technologies is expected to boost the usage of digital platforms in the music event market for ticket booking, ordering meals, and booking hotels for accommodation. These developments will significantly boost music tourism and facilitate the overall development of the music events industry. Music tourism is an upcoming trend in emerging markets such as Asia-Pacific. However, privacy and data security concerns associated with use of online platforms or online ticket vendors is a major challenge.

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.

Frequently Asked Questions about the Music Event Market:

1. What is the size of the music event market in 2025?
2. What types of events are included in the music event market?
3. What factors are driving growth in the music event market?
4. What are the major revenue streams in the music event market?
5. Which regions dominate the music event market in 2025?
6. What are the latest trends in the music event market in 2025?
7. How has technology influenced the music event market?
8. How has the post-pandemic landscape affected music events?
9. What are some of the most popular music festivals in 2025?
10. How important is sustainability in the music event market?
11. What role do sponsorships play in the music event market?

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Explore AMR's Extensive ongoing Coverage on Hospitality Domain:

➢ U.K. Music Event Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/u-k-music-event-market-A99926

➢ Germany Music Event Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/germany-music-event-market-A99924

➢ France Music Event Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/france-music-event-market-A99925

➢ Italy Music Event Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/italy-music-event-market-A99927

➢ U.S. Music Event Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/u-s-music-event-market-A99920

➢ Canada Music Event Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/canada-music-event-market-A99922

➢ Mexico Music Event Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/mexico-music-event-market-A99921

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