Music Events - Germany

Germany

Highlights

Revenue in the Music Events market is projected to reach US$1.77bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.85%, resulting in a projected market volume of US$1.91bn by 2028.
In the Music Events market, the number of users is expected to amount to 11.8m users by 2028.
User penetration will be 14.0% in 2024 and is expected to hit 14.2% by 2028.
The average revenue per user (ARPU) is expected to amount to US$151.10.
In global comparison, most revenue will be generated United States (US$16.98bn in 2024).
With a projected rate of 25.8%, the user penetration in the Music Events market is highest Denmark.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Music Events market in Germany has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Germany have played a crucial role in the development of the Music Events market. Germans have a strong cultural appreciation for music, with a rich history of classical composers and a thriving contemporary music scene. This has created a strong demand for live music events, ranging from classical concerts to music festivals. Additionally, Germans place a high value on quality and authenticity, which has led to an increased interest in attending live performances by renowned artists. Trends in the market have also contributed to its growth. One notable trend is the rise of music festivals in Germany. These events attract a diverse audience and offer a unique experience by combining music with other forms of entertainment, such as art installations and food vendors. Music festivals have become a popular choice for both domestic and international tourists, contributing to the growth of the Music Events market. Another trend in the market is the increasing popularity of niche music events. Germans have shown a growing interest in specific genres and styles of music, leading to the emergence of smaller, specialized events catering to these preferences. This trend reflects a desire for more personalized and unique experiences, as well as the influence of digital platforms that allow for easy discovery and access to a wide range of music. Local special circumstances have also played a role in the development of the Music Events market in Germany. The country's central location in Europe makes it a convenient destination for both artists and audiences from neighboring countries. This has led to an influx of international artists performing in Germany, further diversifying the music event offerings and attracting a broader audience. Underlying macroeconomic factors have provided a favorable environment for the growth of the Music Events market in Germany. The country has a strong economy and high disposable income levels, allowing individuals to allocate a portion of their budget towards entertainment and leisure activities. Additionally, the government has implemented policies to support the cultural sector, including funding for music events and venues, which has further stimulated market growth. In conclusion, the Music Events market in Germany has experienced significant growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The strong cultural appreciation for music, the rise of music festivals, the popularity of niche events, Germany's central location in Europe, and the country's strong economy have all contributed to the development of a thriving music events industry.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.