Music Events - Greece

  • Greece
  • Revenue in the Music Events market is projected to reach US$66.25m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.46%, resulting in a projected market volume of US$73.02m by 2028.
  • In the Music Events market, the number of users is expected to amount to 689.6k users by 2028.
  • User penetration will be 6.7% in 2024 and is expected to hit 6.9% by 2028.
  • The average revenue per user (ARPU) is expected to amount to US$97.13.
  • 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

 
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Analyst Opinion

The Music Events market in Greece has seen significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Music Events market in Greece have shifted towards live performances and experiences, with consumers increasingly seeking out unique and immersive events. This trend is in line with global market trends, as music enthusiasts worldwide are looking for more than just traditional concerts. The demand for music festivals, outdoor concerts, and intimate live performances has been on the rise, as customers seek memorable experiences and a sense of community. In addition to changing customer preferences, several trends have contributed to the growth of the Music Events market in Greece. One notable trend is the increasing popularity of international artists and bands performing in the country. Greece has become an attractive destination for artists from around the world, drawn by its rich cultural heritage and vibrant music scene. This trend has not only expanded the variety of music events available to consumers but has also boosted tourism in the country. Another trend driving the growth of the Music Events market in Greece is the rise of digital streaming platforms. Streaming services have made it easier for consumers to discover and access music, leading to a broader interest in attending live events. Music streaming platforms have also facilitated the promotion and marketing of music events, reaching a wider audience and generating more interest and ticket sales. Local special circumstances have also played a role in the development of the Music Events market in Greece. The country's strong musical tradition and cultural heritage have created a fertile ground for the growth of the market. Greek music festivals, such as the Athens Epidaurus Festival and the Rockwave Festival, have gained international recognition and attract both local and international audiences. The unique blend of traditional Greek music and contemporary genres has also contributed to the appeal of music events in Greece. Underlying macroeconomic factors have also influenced the growth of the Music Events market in Greece. The country's economic recovery in recent years has led to increased consumer spending and disposable income, allowing more people to afford tickets to music events. Additionally, the government's efforts to promote tourism and cultural events have had a positive impact on the music industry, attracting both domestic and international visitors to music events in Greece. Overall, the Music Events market in Greece is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and favorable macroeconomic factors. The demand for live music experiences, the popularity of international artists, the rise of digital streaming platforms, and the country's strong musical tradition all contribute to the development of the market. As the market continues to evolve, it is expected that Greece will remain a vibrant and sought-after destination for music events.

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.

Overview

  • Revenue
  • Analyst Opinion
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
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