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The live music market size is estimated to grow at a CAGR of 4.39% between 2022 and 2027. The market size is forecast to increase by USD 6.2 billion. The growth of the market depends on several factors, including the increased popularity of live events, the growing affordability of high-priced event tickets, and the increased use of mobile apps. The report offers extensive research analysis on the live music market, with a categorization based on revenue, including tickets, sponsorship, and merchandising. It further segments the market by genre, encompassing pop, rock, hip-hop, EDM, metal music, and others. Additionally, the report provides geographical segmentation, covering APAC, Europe, North America, the Middle East and Africa, and South America. Market size, historical data (2017-2021), and future projections are presented in terms of value USD 20.72 billion for all the mentioned segments.
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One of the key factors driving the global live music market growth is the growing demand for live music experiences. The global live music market is experiencing tremendous growth in demand for live music experiences. In addition, with advancements in technology and a shift in consumer preferences, people are increasingly seeking out live music events as a way to connect with their favorite artists and enjoy unique and immersive entertainment.
Moreover, one key factor contributing to the increased demand for live experiences is the desire for authentic and memorable interactions with musicians and artists. In addition, in an era dominated by digital and streaming platforms, live music offers a tangible and personal connection between artists and their fans. Hence, such factors are positively impacting the market. Therefore, it is expected to drive market growth during the forecast period.
Increasing adoption of DJ software to produce music is one of the key live music market trends that is expected to impact the live music market during the forecast period. The increasing interest in music among the youth is offering several opportunities for DJ artists to give live performances, which is one of the sources of revenue for organizers and artists. In addition, this is driving the global live music market. Furthermore, a few music producers and artists are also utilizing DJ software and equipment to mix audio songs.
Moreover, they utilize DJ software such as Live 10, Serato DJ Pro, Serato DJ Lite, Bitwig Studio 3, and REASON to mix two or more songs to create remix tracks. In addition, a few of the musicians, DJs, and producers utilize live music to create various genres such as hip hop, EDM, rock, disco, trap, bass, dubstep, house, and trance. Furthermore, several vendors are upgrading their software, which is backward compatible. Hence, such factors are driving the market growth during the forecast period.
One of the key challenges to the global live music market growth is the privacy and security concerns over online ticket booking platforms. With the growth in online platforms and applications, the threat of phishing has increased. In addition, to target the right audience with customized offerings, service providers track cookies to collect data related to customers' preferences. Furthermore, they use this data to reach out and interact with their customers.
Moreover, they access information on customer profiling, customer behavior, and data mining. In addition, the indiscriminate use of this data can infringe on customer privacy. Furthermore, location-based services also come under the purview of privacy concerns because offering such services to customers requires geo-based information. Hence, such factors are hindering the market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Live Music Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bassett Events Inc.: The company offers live music events for private and corporate clients.
The research report also includes detailed analyses of the competitive landscape of the market and information about 16 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The tickets segment is estimated to witness significant growth during the forecast period. The ticketing segment plays a key role in the global live music market, serving as the primary means for fans to access and attend live music events. In addition, the segment comprises the sale and distribution of tickets for music concerts, festivals, and other live music performances. Furthermore, the ticketing segment has undergone significant transformation in recent years, driven by advancements in technology and changes in consumer expectations.
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The tickets segment was the largest segment and was valued at USD 20.72 billion in 2017. Moreover, online ticketing platforms have become increasingly popular, allowing music enthusiasts to browse upcoming live music events, select their preferred seats, and purchase tickets from the comfort of their own homes. In addition, these platforms often feature user-friendly interfaces and secure payment gateways, ensuring a smooth transaction process. For instance, platforms like Ticketmaster and StubHub have gained widespread recognition for their comprehensive listings of live music events and customer-centric approaches. In addition, mobile ticketing has emerged as a game-changer in the live music industry. Furthermore, with the advent of advanced smartphone technology, attendees can now opt for digital tickets that are accessible on their mobile devices. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America holds a significant position in the global live music market, playing a major role in shaping the industry and hosting a wide range of iconic music events. In addition, with a rich musical heritage and a diverse range of genres, North America has become a hub for live music events, attracting both local and international artists and audiences. Moreover, one key aspect of North America's influence on the global live music market is its thriving concert scene. Furthermore, cities like New York, Los Angeles, and Nashville are well-known for their vibrant music scene and serve as breeding grounds for emerging talent. Therefore, these cities have a multitude of live music venues, ranging from intimate clubs to large arenas and stadiums, providing opportunities for musicians/artists to showcase their music. Hence, such factors are driving the market growth during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global live music market witnessed a significant slowdown as numerous tours and shows were canceled due to the pandemic in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of live music tours and numerous music concerts. Such factors are expected to drive the market during the forecast period.
The live music market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Live Music Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.39% |
Market growth 2023-2027 |
USD 6.2 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
11.98 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, Japan, UK, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alliance Tickets, Bassett Events Inc., Coast To Coast Tickets LLC, CTS Eventim AG and Co. KGaA, Event.com Inc., Eventbee Inc., Eventbrite Inc., Live Nation Entertainment Inc., Lyte Inc., SeatGeek Inc., Sunrise Records Ltd., The Ticketline Network Ltd., Ticket City Inc., TicketNetwork Inc., TickPick LLC, TiqIQ LLC, TodayTix Inc., Viagogo Entertainment Inc., Vivendi SE, and Vivid Seats Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Revenue
7 Market Segmentation by Genre
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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