Music Events Tickets Market

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Music Events Tickets Market Revenue Drivers,
Growth Opportunities, Value Chain Analysis and
COVID-19 Impact Insights, 2028
The global music events tickets market size
was valued at USD 5.21 billion in 2020 and
is expected to expand at a compound annual
growth rate (CAGR) of 18.4 from 2021 to
2028.
The global Music Events Tickets Market research
report provides complete insights on industry
scope, trends, regional estimates, key
application, competitive landscape and financial
performance of prominent players. It also offers
ready data-driven answers to several
industry-level questions. This study enables
numerous opportunities for the market players to
invest in research and development. Market
Overview The global music events tickets market
size is expected to reach USD 18.17 billion by
2028, according to a new report by Million
Insights. It is expected to expand at a
CAGR of 18.4 from 2021 to 2028. The
significant growth in the music event industry
across the globe can be credited to the rising
popularity of music artists across the globe.
Moreover, the growing digitalization and access
to online media platforms are the other factors
propelling the market growth. In addition, the
monotony of hectic life and an increase in
disposable income are some other factors
offering growth to the global music event
industry that further support the market
growth. The market witnessed a significant
downfall during the Covid-19 due to the
cancellation of live music events across the
globe. The market is mainly impacted due to the
rapidly changing conditions, which have compelled
the government to impose a ban on all the
activities that involve the social crowd. The
first step taken by the government of almost all
the developed and emerging economies, which
includes the U.S., China, India, the U.K.,
and Germany, was to shut down schools,
theaters, live events, and amusement parks.
In addition, several musicians that have their
concerts amidst the lockdown have planned to
stream live performances that further result in
the revenue loss of online ticket providers that
further impact the market growth.
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• Music Events Tickets Market Report Highlights
• North America captured the largest revenue share
  of over 40.0 share in 2020. The strong and wide
  presence of key players and long-standing demand
  for online music events tickets owing to high
  smartphone users are contributing to the market
  growth
• Asia Pacific is expected to register the highest
  CAGR of 19.7 from 2021 to 2028. China and India
  are positively contributing to the growth of the
  market
• The digital tickets type segment is forecasted to
  register the fastest CAGR from 2021 to 2028. A
  significant rise in smartphone users across
  the globe further contributed to the growth
  of the market
• The digital tickets type segment is forecast to
  register the highest growth rate from 2021 to
  2028. The market is mainly driven by the growing
  trend towards easy and convenient access to live
  music events across the globe to avoid the crowd.
  Moreover, the growing trend towards using mobile
  applications to get digital tickets, coupled
  with the rising penetration of smartphones
  across the globe, will support the industry
  demand. In addition, easiness coupled
  with purchasing tickets through
  internet-enabled smartphones and tablets is
  projected to significantly contribute to the
  music event ticketing industry.
• Europe held the second-largest revenue share in
  2020. Well-developed countries such as Germany,
  the U.K., and France are positively contributing
  to the market revenue. The high growth can be
  credited to the strong presence of large
  music event organizing companies and ticket
  providers, along with the long- existing
  demand for online tickets. Additionally, higher
  GDP, per capita income, and per capita spending
  on music events and cultural activities in
  the European countries altogether result in
  strong sales and increased adoption of
  online music event tickets. Europe is
  observed to be one of the best tourist
  destinations across the globe as it includes a
  number of hotspots, theme parks, and live events
  that further support the market growth.

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