Global Music Event Market Size Likely to Grow at a CAGR of 9.5% By 2033

As per the current market research conducted by the CMI Team, the global Music Event market size is expected to record a CAGR of 9.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 164 Billion. By 2033, the valuation is anticipated to reach USD 389 Billion.

Music Event Market: Overview

According to industry experts at CMI, a music event is an event where people gather to see the live experience of music. These events can vary widely in format and scale, ranging from small, intimate performances to large festivals with multiple acts.

The music event market is being driven by several factors, such as the rising popularity of live music experiences, the growing number of music concerts in developing regions like India, the increasing popularity of music festivals in developed areas, increasing disposable income of the population, growing number of sponsorships for advertising purpose and many others.

However, the high operational cost and economic uncertainty might be significant hindrances to the expansion of the industry over the analysis period.

Music Event Market: Growth Factors and Dynamics

The growing interest of the young population

Demand for rock and pop music is driven by the presence of a large youth population in developing nations and the growing impact of Western culture in these economies. The ever increasing popularity of numerous genres and the appeal of globally famous musicians fuel the expansion of the music events business. The increase in women’s employment is one of the critical drivers for the industry expansion.

Increasing music festivals

Music festivals include genres like pop, rock, EDM (electronic dance music), country, hip-hop, jazz, and indie. This diversity in music festivals draws audiences of all ages and demographics, broadening their reach. These festivals attract a population of diverse music backgrounds, which increase participation and overall revenue growth.

Furthermore, music festivals are becoming platforms for brand partnerships and artists collaboration. Major businesses now aggressively sponsor music festivals to offer unique experiences and product synergy. For example, Coca-Cola, Red Bull and Nike have a significant presence at music festivals, where they integrate their products into the event’s experience through activations and special deals.

Changing government policies

The changing government laws and the implementation of numerous data privacy policies have presented new challenges to market operators. For example, the European Union’s General Data Protection Regulation (GDPR) entered force in May 2018.

The British government supports this EU directive, and the law is expected to impact the music event sector, particularly in Europe substantially. This law is expected to influence event planners’ decisions based on previously obtained data from participation.

Report Scope

List of the prominent players in the Music Event Market:

• Anschutz Entertainment Group
• BCD GROUP
• Carlson Inc.
• Insomniac Holdings. LLC
• Outback Presents LLC
• ACCESS DESTINATION SERVICES
• Basset Events Inc.
• Rafanelli Events Inc.
• Eventbrite Inc.
• colin cowie lifestyle
• Others

The Music Event Market is segmented as follows:

By Revenue Source

• Tickets
• Sponsorship
• Others

By Genre

• Rock
• Pop
• EDM
• Others

By Type

• Music Festivals
• Music Concerts
• Music Shows
• Others

By Age Group

• Below 20 Years
• 21 to 40 Years
• Above 40 Years

By Gender

• Male
• Female

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America