Live Music Market: 32% of Growth to Originate from APAC | Research Insights Highlight Growing Preference for Purchasing Tickets Using Mobile Applications as Key Driver | Industry Revenue Worldwide from 2020 to 2025
NEW YORK, March 10, 2022 /PRNewswire/ -- The Live Music Market value is set to grow by USD 2.83 billion, progressing at a CAGR of 6% from 2020 to 2025, as per the latest report by Technavio.
Growing preference for purchasing tickets using mobile applications coupled with an increase in service offerings by event organizers will drive the market. However, privacy and security concerns over online ticket booking platforms can hamper the growth of the market during the next few years.
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Growing Preference for Purchasing Tickets Using Mobile Applications Coupled with Increase in Service Offerings by Event Organizers to Drive the Market Growth
The rising popularity of mobile apps is inducing service providers to develop mobile applications to provide ease of access and better convenience to customers. With the rise in live events and concerts, a large number of event organizers are focusing on collaborating with online and offline ticket providers to enhance their customer reach. The growing usage of mobile devices and mobile applications has made it extremely convenient for individuals to book tickets as these apps also provide easy payment options and enable customers to select suitable seats.
Moreover, focused on increasing customer satisfaction and revenue, event organizers in the live music market are on the lookout for innovative methods such as offering tickets with accommodation and merchandise. Vendors offer early-bird discounts, free beverages, complimentary food, and providing goodies for kids. This will attract a large number of customers to book tickets online, which will fuel the growth of the live music market.
Privacy and Security Concerns Over Online Ticket Booking Platforms to Challenge the Market Growth
With the growth in online platforms and applications, the threat of phishing has increased. To target the right audience with customized offerings, service providers track cookies to collect data related to customers' preferences. They use this data to reach out and interact with their customers. They access information on customer profiling, customer behavior, and data mining. The indiscriminate use of this data can infringe on customer privacy. Location-based services also come under the purview of privacy concerns because offering such services to customers requires geo-based information.
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Regional Analysis & Forecasts
32% of the market's growth will originate from APAC during the forecast period. Japan, Australia, and India are the key markets for live music in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
The steady rise in the number of concerts and events will facilitate the live music market growth in APAC over the forecast period.
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Major Live Music Companies:
- Ace Ticket Worldwide Inc.
- Alliance Tickets
- Bassett Events
- Berkeley City Club
- Brown Paper Tickets LLC
- Cvent Inc.
- Eventbrite Inc.
- RazorGator LLC
- Steinway Inc.
- Ticketmaster Entertainment Inc.
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Live Music Market Landscape Outlook (Revenue, USD bn, 2020-2025)
- Tickets - size and forecast 2020-2025
- Sponsorship - size and forecast 2020-2025
- Merchandising - size and forecast 2020-2025
Live Music Market Sizing Outlook (Revenue, USD bn, 2020-2025)
- Pop - size and forecast 2020-2025
- Rock - size and forecast 2020-2025
- Hip-hop - size and forecast 2020-2025
- EDM - size and forecast 2020-2025
- Others - size and forecast 2020-2025
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Live Music Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 6% |
Market growth 2021-2025 | $ 2.83 billion |
Market structure | Fragmented |
YoY growth (%) | 3.14 |
Regional analysis | North America, Europe, APAC, South America, and MEA |
Performing market contribution | APAC at 32% |
Key consumer countries | US, Germany, UK, Canada, and France |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Ace Ticket Worldwide Inc., Alliance Tickets, Bassett Events, Berkeley City Club, Brown Paper Tickets LLC, Cvent Inc., Eventbrite Inc., RazorGator LLC, Steinway Inc., and Ticketmaster Entertainment Inc. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
Exhibit 01: Parent market
Exhibit 02: Market characteristics
2.2 Value chain analysis
Exhibit 03: Value chain analysis - Specialized consumer services
2.2.1 Inputs
2.2.2 Operations
2.2.2.1 Pitching and profiling
2.2.2.2 Resourcing and communicating
2.2.2.3 Delivery and support
2.2.2.4 Connecting and innovating
2.2.3Marketing and sales
Support activities
Innovations
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
Exhibit 07: Global market: Year-over-year growth 2019 - 2024 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2019 & 2024
4.2 Bargaining power of buyers
Exhibit 09: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 10: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 11: Threat of new entrants
4.5 Threat of substitutes
Exhibit 12: Threat of substitutes
4.6 Threat of rivalry
Exhibit 13: Threat of rivalry
4.7 Market condition
Exhibit 14: Market condition - Five forces 2020
5. Market Segmentation by Revenue
5.1 Market segments
The segments covered in this chapter are:
- Tickets
- Sponsorship
- Merchandising
The two segments have been ranked based on their market share in 2020. The tickets constituted the largest segment in 2020, while the smallest segment was merchandising
Exhibit 15: Revenue - Market share 2020-2025 (%)
5.2 Comparison by Revenue
Exhibit 16: Comparison by Revenue
5.3 Tickets- Market size and forecast 2020-2025
Exhibit 17: Tickets - Market size and forecast 2020-2025 ($ million)
Exhibit 18: Tickets - Year-over-year growth 2020-2025 (%)
5.4 Sponsorship - Market size and forecast 2020-2025
Exhibit 19: Sponsorship - Market size and forecast 2020-2025 ($ million)
Exhibit 20: Sponsorship - Year-over-year growth 2020-2025 (%)
5.5 Merchandising - Market size and forecast 2020-2025
Exhibit 21: Merchandising - Market size and forecast 2020-2025 ($ million)
Exhibit 22: Merchandising - Year-over-year growth 2020-2025 (%)
5.6 Market opportunity by Revenue
Exhibit 23: Market opportunity by Revenue
6. Market Segmentation by Genre
6.1 Market segments
The segments covered in this chapter are:
- Pop
- Rock
- Hip-hop
- EDM
- Others
The two segments have been ranked based on their market share in 2020. Pop constituted the largest segment in 2020, while the smallest segment was Others
Exhibit 24: Genre - Market share 2020-2025 (%)
6.2 Comparison by Genre
Exhibit 25: Comparison by Genre
6.3 Pop- Market size and forecast 2020-2025
Exhibit 26: Pop - Market size and forecast 2020-2025 ($ million)
Exhibit 27: Pop - Year-over-year growth 2020-2025 (%)
6.4 Rock - Market size and forecast 2020-2025
Exhibit 28: Rock - Market size and forecast 2020-2025 ($ million)
Exhibit 29: Rock - Year-over-year growth 2020-2025 (%)
6.5 Hip Hop - Market size and forecast 2020-2025
Exhibit 30: Hip Hop - Market size and forecast 2020-2025 ($ million)
Exhibit 31: Hip Hop - Year-over-year growth 2020-2025 (%)
6.6 EDM - Market size and forecast 2020-2025
Exhibit 32: EDM - Market size and forecast 2020-2025 ($ million)
Exhibit 33: EDM - Year-over-year growth 2020-2025 (%)
6.7 Others - Market size and forecast 2020-2025
Exhibit 34: Others - Market size and forecast 2020-2025 ($ million)
Exhibit 35: Others - Year-over-year growth 2020-2025 (%)
6.8 Market opportunity by Revenue
Exhibit 36: Market opportunity by Revenue
7. Customer landscape
Exhibit 37: Customer landscape
8. Geographic Landscape
8.1 Geographic segmentation
The regions covered in the report are:
- North America
- Europe
- APAC
- South America
- MEA
North America ranked first as the largest market globally, while MEA accounted for the smallest market share in 2020
Exhibit 38: Market share by geography 2020-2025 (%)
8.2 Geographic comparison
Exhibit 39: Geographic comparison
8.3 North America - Market size and forecast 2020-2025
Exhibit 40: North America- Market size and forecast 2020-2025 ($ million)
Exhibit 41: North America - Year-over-year growth 2020-2025 (%)
8.4 Europe - Market size and forecast 2020-2025
Exhibit 42: Europe - Market size and forecast 2020-2025 ($ million)
Exhibit 43: Europe - Year-over-year growth 2020-2025 (%)
8.5 APAC - Market size and forecast 2020-2025
Exhibit 44: APAC - Market size and forecast 2020-2025 ($ million)
Exhibit 45: APAC- Year-over-year growth 2020-2025 (%)
8.6 South America - Market size and forecast 2019-2024
Exhibit 46: South America - Market size and forecast 2019-2024 ($ billion)
Exhibit 47: South America Year-over-year growth 2020-2024 (%)
8.7 MEA - Market size and forecast 2019-2024
Exhibit 48: MEA - Market size and forecast 2019-2024 ($ billion)
Exhibit 49: MEA - Year-over-year growth 2020-2024 (%)
8.8 Key leading countries
Exhibit 50: Key leading countries
8.9 Market opportunity by geography
Exhibit 51: Market opportunity by geography ($ million)
9. Drivers, Challenges, and Trends
9.1 Market drivers
9.1.1 Increased popularity of live events
9.1.2 Growing affordability for high-priced event tickets
9.1.3 Increased use of mobile apps
9.2 Market challenges
9.2.1 Privacy and security concerns over online ticket booking platforms
9.2.2 Growing popularity of music-on-demand
9.2.3 Short life cycle of entertainment services
Exhibit 52: Impact of drivers and challenges
9.3 Market trends
9.3.1 Analyzing consumer behavior via mobile ticketing app
9.3.2 Evolution of mobile ticket sales
9.3.3 Increase in service offerings
10. Vendor Landscape
10.1 Overview
Exhibit 53: Vendor landscape
10.2 Landscape disruption
The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
Exhibit 54: Landscape disruption
Exhibit 55: Industry risks
11. Vendor Analysis
11.1 Vendors covered
Exhibit 56: Vendors covered
11.2 Market positioning of vendors
Exhibit 57: Market positioning of vendors
11.3 Ace Ticket Worldwide Inc.
Exhibit 58: Ace Ticket Worldwide Inc. - Overview
Exhibit 59: Ace Ticket Worldwide Inc. - Product and service
Exhibit 60: Ace Ticket Worldwide Inc. - Key offerings
11.4 Alliance Tickets
Exhibit 61: Alliance Tickets - Overview
Exhibit 62: Alliance Tickets - Product and service
Exhibit 63: Alliance Tickets - Key offerings
11.5 Bassett Events
Exhibit 64: Bassett Events - Overview
Exhibit 65: Bassett Events - Product and service
Exhibit 66: Bassett Events - Key offerings
11.6 Berkeley City Club
Exhibit 67: Berkeley City Club - Overview
Exhibit 68: Berkeley City Club - Product and service
Exhibit 69: Berkeley City Club - Key offerings
11.7 Brown Paper Tickets LLC
Exhibit 70: Brown Paper Tickets LLC - Overview
Exhibit 71: Brown Paper Tickets LLC - Product and service
Exhibit 72: Brown Paper Tickets LLC - Key offerings
11.8 Cvent Inc.
Exhibit 73: Cvent Inc. - Overview
Exhibit 74: Cvent Inc. - Product and service
Exhibit 75: Cvent Inc. – Key news
Exhibit 76: Cvent Inc. - Key offerings
11.9 Eventbrite Inc.
Exhibit 77: Eventbrite Inc. - Overview
Exhibit 78: Eventbrite Inc. - Business segments
Exhibit 79: Eventbrite Inc. – Key News
Exhibit 80: Eventbrite Inc. - Key offerings
11.10 RazorGator LLC
Exhibit 81: RazorGator LLC - Overview
Exhibit 82: RazorGator LLC - Product and service
Exhibit 83: RazorGator LLC - Key offerings
11.11 Steinway Inc.
Exhibit 84: Steinway Inc. - Overview
Exhibit 85: Steinway Inc. - Product and service
Exhibit 86: Steinway Inc. - Key offerings
11.12 Ticketmaster Entertainment Inc.
Exhibit 87: Ticketmaster Entertainment Inc. - Overview
Exhibit 88: Ticketmaster Entertainment Inc. - Product and service
Exhibit 89: Ticketmaster Entertainment Inc. - Key offerings
12. Appendix
12.1 Scope of the report
12.1.1 Market definition
12.1.2 Objectives
12.1.3 Notes and caveats
12.2 Currency conversion rates for US$
Exhibit 90: Currency conversion rates for US$
12.3 Research Methodology
Exhibit 91: Research Methodology
Exhibit 92: Validation techniques employed for market sizing
Exhibit 93: Information sources
12.4 List of abbreviations
Exhibit 94: List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE Technavio
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