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 due to technological advancements and the impact of the COVID-19 pandemic. In response to evolving 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 challenging or impossible. Consequently, musicians, artists, and organizers have turned to virtual and hybrid formats as a means of adapting and continuing to engage with their fan bases. This trend is expected to persist even post-pandemic, as virtual and hybrid events offer increased accessibility and flexibility for both performers and audiences.
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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, Europe, APAC, 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:
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Key Features in Live Music Market Research Report
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Live music events continue to thrive worldwide, with concerts and festivals featuring artists from genres such as Blues, Pop, Rock, Metal, Electronica, and more. Mobile apps and virtual online platforms provide easy access to information on music events, allowing customers to customize their experiences based on emerging trends, local special circumstances, and their unique preferences. Live performance remains a cornerstone of the music industry, offering social interaction and connection with like-minded individuals, spanning decades and providing a livelihood for musicians. Innovations like DJs, tours, and holograms add to the excitement, keeping the live music scene fresh and evolving.
The live music market is a significant segment of the larger global leisure products industry, which encompasses categories such as sports equipment, musical instruments, and household durables. According to Technavio, the household durables market size is determined by the consolidated revenue generated by manufacturers of various household durables, including consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. Factors driving the growth of this market include the increasing urbanization and adoption of technology in music production and events. The rise of mobile apps and digital platforms for booking tickets and discovering new artists in genres such as blues, pop, rock, metal, electronica, and more, have made live music concerts and parties more accessible than ever before. Additionally, the automation and industrialization of music event production lines have led to increased efficiency and capacity, enabling more frequent and diverse music events worldwide. The growing popularity of health and fitness clubs further contributes to the market's expansion, as many establishments offer fitness classes and events featuring live music as part of their offerings.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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