Music Events - Norway

Norway

Highlights

Revenue in the Music Events market is projected to reach US$263.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.58%, resulting in a projected market volume of US$280.20m by 2028.
In the Music Events market, the number of users is expected to amount to 1.2m users by 2028.
User penetration will be 21.2% in 2024 and is expected to hit 20.8% by 2028.
The average revenue per user (ARPU) is expected to amount to US$221.20.
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 Norway has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Norwegian consumers have shown a growing interest in attending music events, with a particular focus on live performances by both domestic and international artists. This trend can be attributed to the unique experience that live music events offer, allowing individuals to connect with their favorite artists in a more intimate and immersive setting. Moreover, social media platforms have played a crucial role in promoting music events, enabling fans to stay updated on upcoming concerts and share their experiences with friends and followers.

Trends in the market: One notable trend in the Music Events market in Norway is the increasing popularity of music festivals. These multi-day events attract a large number of attendees from both within the country and abroad, offering a diverse lineup of artists across various genres. Music festivals provide a unique opportunity for music enthusiasts to discover new artists and genres, creating a sense of community and shared experiences. Additionally, the rise of eco-friendly and sustainable music festivals has gained traction in recent years, aligning with the growing environmental consciousness among consumers. Another trend in the market is the emergence of niche music events catering to specific genres or subcultures. These events provide a platform for artists and fans to come together and celebrate their shared interests, fostering a sense of belonging and community. The success of these niche events can be attributed to the increasing demand for personalized experiences, as consumers seek out events that align with their individual tastes and preferences.

Local special circumstances: Norway's vibrant music scene, characterized by a rich cultural heritage and a strong tradition of supporting the arts, has contributed to the growth of the Music Events market. The country boasts a talented pool of musicians across various genres, ranging from traditional folk music to contemporary pop and rock. This abundance of local talent has not only attracted domestic audiences but has also garnered international recognition, drawing in tourists who are eager to experience Norway's unique music culture firsthand. Furthermore, the Norwegian government has implemented policies and initiatives to support the music industry, providing funding and resources for artists and event organizers. This support has helped to create a conducive environment for the growth of the Music Events market, encouraging innovation and creativity within the industry.

Underlying macroeconomic factors: Norway's strong economy and high disposable income levels have played a significant role in driving the growth of the Music Events market. With a high standard of living and a relatively low unemployment rate, Norwegian consumers have the financial means to invest in experiences such as attending music events. Moreover, the country's stable political environment and robust infrastructure make it an attractive destination for both domestic and international artists, further fueling the growth of the market. In conclusion, the Music Events market in Norway has experienced remarkable growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The increasing interest in live music experiences, the popularity of music festivals, and the support from the government and local music scene have all contributed to the expansion of the market. As the demand for unique and personalized music events continues to grow, the Music Events market in Norway is expected to thrive in the coming years.

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.