Market Insights Digital eServices Event Tickets

Music Events - Burundi

Burundi

Revenue in the Music Events market is projected to reach US$1.76m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.28%, resulting in a projected market volume of US$2.51m by 2028.
In the Music Events market, the number of users is expected to amount to 186.5k users by 2028.
User penetration will be 1.2% in 2024 and is expected to hit 1.3% by 2028.
The average revenue per user (ARPU) is expected to amount to US$11.33.
In global comparison, most revenue will be generated in the United States (US$16,980.00m in 2024).
With a projected rate of 25.8%, the user penetration in the Music Events market is highest in Denmark.

Key regions: India, Japan, Europe, China, Asia

Market

Region

Region comparison

Currency

Analyst Opinion

The Music Events market in Burundi is experiencing significant growth and development in recent years.

Customer preferences: Burundian consumers have shown a growing interest in attending music events. They enjoy the opportunity to experience live performances and connect with their favorite artists. Music events provide a platform for people to come together, socialize, and enjoy a shared passion for music. The demand for music events is driven by a desire for entertainment and cultural experiences.

Trends in the market: One of the key trends in the Music Events market in Burundi is the increasing number of international artists and bands performing in the country. This trend is a result of Burundi's growing reputation as a vibrant music scene and its strategic location in East Africa. International artists recognize the potential of the Burundian market and are eager to tap into this emerging opportunity. As a result, music events featuring international acts are becoming more common and attracting a larger audience. Another trend in the market is the diversification of music genres. While traditional Burundian music remains popular, there is a growing interest in other genres such as hip-hop, reggae, and pop. This diversification is driven by the influence of global music trends and the desire for a more varied music scene. Music event organizers are catering to this demand by bringing in artists from different genres to appeal to a wider audience.

Local special circumstances: Burundi has a rich cultural heritage and a strong tradition of music and dance. Music events play a significant role in preserving and promoting this cultural heritage. They provide a platform for local artists to showcase their talent and gain recognition both domestically and internationally. Music events also contribute to the local economy by attracting tourists and generating revenue for the hospitality and tourism sectors.

Underlying macroeconomic factors: The growth of the Music Events market in Burundi is supported by several macroeconomic factors. The country has experienced stable economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has enabled more people to afford tickets to music events and contribute to the market's growth. Furthermore, the government of Burundi has recognized the importance of the creative industries, including the music sector, in driving economic development. They have implemented policies and initiatives to support the growth of the music industry, such as providing funding and infrastructure for music events. These efforts have created a favorable environment for the Music Events market to thrive. In conclusion, the Music Events market in Burundi is experiencing a period of growth and development. Customer preferences, such as the desire for entertainment and cultural experiences, are driving the demand for music events. The market is witnessing trends such as the influx of international artists and the diversification of music genres. Local special circumstances, including the country's rich cultural heritage and government support, further contribute to the market's growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.