Live Music Market by Revenue, Genre, and Geography - Forecast and Analysis 2021-2025

The live music market share is expected to increase by USD 10.66 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 9.04%.

This live music market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers live music market segmentation by revenue (tickets, sponsorship, and merchandising), genre (pop, rock, hip-hop, EDM, and others), and geography (North America, Europe, APAC, South America, and MEA). The live music market report also offers information on several market vendors, including Ace Ticket Worldwide Inc., Alliance Tickets, Bassett Events, Berkeley City Club, Brown Paper Tickets LLC, Cvent Inc., Eventbrite Inc., RazorGator LLC, Steinway Inc., and Ticketmaster Entertainment Inc. among others.

What will the Live Music Market Size be During the Forecast Period?

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Live Music Market: Key Drivers, Trends, and Challenges

The growing preference for purchasing tickets using mobile applications is notably driving the live music market growth, although factors such as privacy and security concerns over online ticket booking platforms may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the live music industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Live Music Market Driver

The growing preference for purchasing tickets using mobile applications will be a significant factor that will drive the growth of the live music market size. The rising popularity of mobile apps is inducing service providers to develop mobile applications to provide ease of access and better convenience to customers. With the rise in live events and concerts, a large number of event organizers are focusing on collaborating with online and offline ticket providers to enhance their customer reach. The growing usage of mobile devices and mobile applications has made it extremely convenient for individuals to book tickets as these apps also provide easy payment options and enable customers to select suitable seats.

Key Live Music Market Trend

Key live music market trends, such as the increase in service offerings by event organizers, will drive market growth. Focused on increasing customer satisfaction and revenue, event organizers in the live music market are on the lookout for innovative methods such as offering tickets with accommodation and merchandise. Vendors offer early-bird discounts, free beverages, complimentary food, and providing goodies for kids. This will attract a large number of customers to book tickets online, which will fuel the growth of the live music market. 

Key Live Music Market Challenge

The privacy and security concerns over online ticket booking platforms are major challenges for the live music market growth. With the growth in online platforms and applications, the threat of phishing has increased. To target the right audience with customized offerings, service providers track cookies to collect data related to customers' preferences. They use this data to reach out and interact with their customers. They access information on customer profiling, customer behavior, and data mining. The indiscriminate use of this data can infringe on customer privacy. Location-based services also come under the purview of privacy concerns because offering such services to customers requires geo-based information. 

This live music market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global live music market as a part of the global specialized consumer services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the live music market during the forecast period.

Who are the Major Live Music Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Ace Ticket Worldwide Inc.
• Alliance Tickets
• Bassett Events
• Berkeley City Club
• Brown Paper Tickets LLC
• Cvent Inc.
• Eventbrite Inc.
• RazorGator LLC
• Steinway Inc.
• Ticketmaster Entertainment Inc.

This statistical study of the live music market encompasses successful business strategies deployed by the key vendors. The live music market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Cvent Inc. - In January 2020, the company partnered with Hospitality Sales and Marketing Association International (HSMAI). Through this agreement, Cvent would provide its technology solutions for more than 75 events organized by the association across Europe. In February 2020, Cvent Europe was recognized as a Centre of Excellence in Well-being.
• Eventbrite Inc. - In January 2019, the company partnered with Goldstar Line Ltd., which would bring the power of the Eventbrite platform and its distribution network to Goldstar event creators in the US.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The live music market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Live Music Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the live music market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of live music includes the following core components:

• Inputs
• Operations
• Marketing and sales
• Support activities
• Innovations

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Live Music Market?

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33% of the market’s growth will originate from APAC during the forecast period. Japan, Australia, and India are the key markets for live music in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The steady rise in the number of concerts and events will facilitate the live music market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Revenue Segments in the Live Music Market?

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The live music market share growth by the tickets segment will be significant during the forecast period. This segment includes both primary and secondary sources of tickets. The global primary ticket market is highly supported by the box office industry worldwide. This has encouraged primary ticket sources to expand their services to all events and concerts. Such factors will drive the market growth through this segment in the coming years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the live music market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Live Music Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive live music market growth during the next five years
• Precise estimation of the live music market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the live music industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of live music market vendors

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