Music Events - Oman

  • Oman
  • Revenue in the Music Events market is projected to reach US$2.93m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.34%, resulting in a projected market volume of US$3.09m by 2028.
  • In the Music Events market, the number of users is expected to amount to 151.4k users by 2028.
  • User penetration will be 2.8% in 2024 and is expected to hit 2.8% by 2028.
  • The average revenue per user (ARPU) is expected to amount to US$20.49.
  • 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 Oman has been experiencing significant growth in recent years.

Customer preferences:
Customers in Oman have shown a strong preference for music events, with a growing demand for both local and international artists. This can be attributed to the increasing popularity of music festivals and concerts as a form of entertainment. Music events provide an opportunity for people to come together and enjoy live performances, creating a sense of community and shared experiences. Additionally, the younger population in Oman has been particularly drawn to music events, with a desire to explore different genres and discover new artists.

Trends in the market:
One of the key trends in the Music Events market in Oman is the rise of international music festivals. In recent years, Oman has seen the introduction of several international music festivals, attracting both local and international attendees. These festivals not only showcase popular international artists, but also provide a platform for local musicians to showcase their talent on a global stage. This trend has contributed to the growth of the music events market in Oman, as it has increased the variety and diversity of music offerings available to consumers. Another trend in the market is the increasing use of technology to enhance the music event experience. Event organizers are leveraging technology to improve ticketing processes, enhance sound and lighting systems, and provide interactive experiences for attendees. This has helped to create a more immersive and engaging environment for music event goers, further driving the demand for such events.

Local special circumstances:
Oman's rich cultural heritage and tradition of music have also played a significant role in the development of the music events market. The country has a long history of music and is known for its traditional Omani music, which has been passed down through generations. This cultural significance has contributed to the popularity of music events in Oman, as people have a deep appreciation for music and its role in their cultural identity. Additionally, the government of Oman has been actively promoting the development of the music events market. They have invested in infrastructure and facilities to support the hosting of music events, such as concert halls and outdoor venues. This has created a favorable environment for event organizers and has attracted international artists to perform in Oman.

Underlying macroeconomic factors:
The growth of the music events market in Oman can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, people in Oman have more financial resources to allocate towards leisure activities, including attending music events. Furthermore, Oman has seen a rise in tourism, with an increasing number of international visitors coming to the country. Music events have become a popular attraction for tourists, contributing to the growth of the market. The government has also recognized the potential of music tourism and has been actively promoting Oman as a music destination. In conclusion, the Music Events market in Oman has been growing rapidly due to customer preferences for live music experiences, the introduction of international music festivals, the use of technology to enhance the event experience, the cultural significance of music in Oman, government support, and favorable macroeconomic factors. These factors have created a thriving market for music events in Oman, attracting both local and international artists and contributing to the overall growth of the country's entertainment industry.

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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