About Live Music
Live music also known as live concerts are performed by artists in public places with help of the different types of instruments such as orchestra, choir, or band. Such concerts are organized by an event management team with the help of lots of sponsors. The passion and love for music have led to the formation of numerous musical bands that also helps in the increment of count of live concerts. Growing fad of listening live music and rise in the number of sponsors will drive the live music market. High enthusiasm and interest among individuals to watch their favorite artists perform on stage, fuels the growth of live music market. Now-a-days mobile ticket sale for such live concerts is trending in the market. Key players are offering early bird discounts, complementary snacks and even dinner facilities to gain market attention
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.3% |
Key players are adopting numerous strategy to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio required for live music concerts, making partnership to adopt certain techniques. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Live Music market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bassett Events (Canada), Cvent (United States), RazorGator (United States), Ticketmaster (United States), Ace Ticket Worldwide (United States), Alliance Tickets (United States), Berkeley City Club (United States), Brown Paper Tickets (United States), Eventbrite (United States), Only Much Louder (India), AEG Worldwide (United States), Bloom Entertainment (Qatar), Scarlett Entertainment (United Kingdom), Urban Events (United Arab Emirates), KG Production & Events FZ LLC. (United Arab Emirates) and Doha Jazz (Qatar) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Ticketek (Australia), TickPick (United States) and XING Events (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Live Music market by Type (Rock, Rap, Jazz, Country and Others), Application (Concerts, Party and Others) and Region.
On the basis of geography, the market of Live Music has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Southeast Asia, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Revenue Source, the sub-segment i.e. Ticket Sales (Online will boost the Live Music market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Selling tickets through mobile Apps, Upcoming themes and tunes and Discounts for early booking
Market Growth Drivers:
Presence of numerous artists, bands, and event organizers, Increasing affordability for high-priced event tickets, Growing fad of listening live music, Rise in the number of sponsors, Increasing passion and love for music and Increment in number of event organizer
Challenges:
Increasing Competition from Streaming Services May Affect the Live Music Event Market
Restraints:
Comparatively difficult process to get license and Set-up is costly
Opportunities:
Continuous improvement in standard of living, Advancement in convenience to book tickets online, Increasing number of offers like early bird discounts, free beverages and complimentary food and Ease of payment and choice to select suitable seats
Market Leaders and their expansionary development strategies
In February 2024, Bandsintown, the leading live event discovery platform, announces its partnership with Spotify to boost concert and festival discovery worldwide, empower more artists, and enhance fan experiences. With Bandsintown event listings now directly integrated into Spotify, artists can reach the right fans - while they're listening - driving better engagement and stronger sales for their live events around the globe.
In December 2023, Wynk Music, India's leading music streaming app, has launched Wynk Rewind 2023, presenting a comprehensive overview of the year's top artists, albums, songs, and playlists that dominated the Indian music scene. This annual feature, powered by an Artificial Intelligence (AI) algorithm, meticulously analyzes user music consumption patterns to offer a personalized experience on the app.
Key Target Audience
Live music providers, Channel partners, Industry Association, Governments and investment communities and Research organizations and associations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.