Latest News- Live Music Market: Tickets is expected to lead the Revenue segment during 2025-2029

The Live Music Market is being driven by Growing demand for live music experiences

The Live Music Market is expected to grow at a CAGR of 11.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 17995.1 million. The global live music market has experienced a notable shift towards virtual and hybrid live music experiences, driven by technological advancements and the unforeseen challenges posed by the COVID-19 pandemic. In response to these circumstances, artists and event organizers have adopted innovative approaches to deliver live music to audiences worldwide. The pandemic disrupted traditional live music events, making large-scale in-person gatherings impractical or impossible. Consequently, musicians, artists, and organizers have embraced virtual and hybrid formats to maintain audience engagement and adapt to the evolving landscape. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Revenue
  • Tickets
  • Sponsorship
  • Merchandising
• Genre
  • Pop
  • Rock
  • Hip-hop
  • EDM
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing demand for live music experiences
• Increasing emphasis on wellness and sustainability at live music events
• Growing affordability of tickets for live music events

However, the market also witnesses some limitations, which are as follows:

• Privacy and security concerns over online ticket booking platforms
• Growing popularity of music-on-demand
• Short lifecycle of entertainment services

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Market Scope in Live Music Market Research Report

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Research Analysis Overview

Live music concerts, encompassing genres like Electronica, continue to be a significant part of the worldwide entertainment industry. Customer preferences and emerging trends shape the landscape of Music Events, with local special circumstances and macroeconomic factors also playing a role. Live music events offer social interaction among like-minded individuals, particularly the younger generation, who view it as a livelihood opportunity for musicians. Tours, festivals, gigs, and live performances remain cornerstones of the industry. Virtual online platforms, holograms, and other technological advancements are reshaping the future of live music experiences.

Market Research Overview

The live music market is a significant segment of the larger global leisure products industry, which encompasses categories such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-focused games. According to Technavio, the global household durables market size is determined by the combined revenue generated by manufacturers of household durables, including consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. Factors driving the expansion of the leisure products market include the growth of health and fitness clubs, with memberships experiencing a consistent rise over the past decade, leading to an increase in the number of clubs. Furthermore, industrial developments, such as production line automation and technology adoption, are transforming the music events sector, catering to evolving customer preferences and emerging trends. Local special circumstances and macroeconomic factors also influence market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/