Music Events - Sweden

Sweden

Highlights

Revenue in the Music Events market is projected to reach US$410.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.82%, resulting in a projected market volume of US$440.90m by 2028.
In the Music Events market, the number of users is expected to amount to 2.2m users by 2028.
User penetration will be 20.5% in 2024 and is expected to hit 20.4% by 2028.
The average revenue per user (ARPU) is expected to amount to US$193.90.
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 Sweden has experienced significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences have played a crucial role in shaping the development of the Music Events market in Sweden. Swedish consumers have shown a strong interest in live music experiences, with a growing demand for concerts, festivals, and other music events. This preference for live music can be attributed to the unique atmosphere and emotional connection that live performances offer. Additionally, Swedish consumers value the opportunity to see their favorite artists perform in person, creating a sense of exclusivity and excitement. Trends in the market have also contributed to the growth of the Music Events market in Sweden. One notable trend is the increasing popularity of music festivals. Swedish consumers have shown a strong affinity for multi-day music festivals, which offer a diverse lineup of artists and a range of entertainment options. These festivals provide a unique social experience, attracting both domestic and international attendees. Another trend is the integration of technology in music events. Swedish consumers have embraced digital platforms and social media, leading to the rise of virtual concerts and live streaming of performances. This trend has allowed music events to reach a wider audience and provide a more immersive experience. Local special circumstances have further fueled the development of the Music Events market in Sweden. The country has a rich musical heritage and a vibrant music scene, with a diverse range of genres and artists. Swedish musicians and bands have gained international recognition, attracting global audiences to music events in Sweden. Additionally, the Swedish government has been supportive of the music industry, providing funding and infrastructure to promote music events. This support has created a favorable environment for the growth of the Music Events market. Underlying macroeconomic factors have also contributed to the development of the Music Events market in Sweden. The country has experienced steady economic growth and a high standard of living, which has increased disposable income and consumer spending. This has allowed Swedish consumers to allocate a larger portion of their budget towards entertainment, including music events. Furthermore, the strong tourism industry in Sweden has attracted international visitors who are eager to experience the country's vibrant music scene. In conclusion, the Music Events market in Sweden has experienced significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The strong interest in live music experiences, the popularity of music festivals, the integration of technology, the rich musical heritage, the supportive government, and the favorable economic conditions have all contributed to the growth of the market.

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.