Market Insights Digital eServices Event Tickets

Music Events - Turkey

Turkey

Revenue in the Music Events market is projected to reach US$186.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.97%, resulting in a projected market volume of US$201.50m by 2028.
In the Music Events market, the number of users is expected to amount to 4.6m users by 2028.
User penetration will be 5.2% in 2024 and is expected to hit 5.2% by 2028.
The average revenue per user (ARPU) is expected to amount to US$41.34.
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 Turkey is experiencing significant growth and development in recent years.

Customer preferences: Customers in Turkey have shown a strong interest in attending music events, with a growing demand for live performances by both local and international artists. Music events have become a popular form of entertainment, attracting a diverse audience from different age groups and backgrounds. Customers appreciate the opportunity to experience their favorite artists in a live setting, creating a memorable and immersive experience. In addition, the rise of social media and digital platforms has allowed customers to easily discover and share information about upcoming music events, further fueling the demand.

Trends in the market: One of the key trends in the Music Events market in Turkey is the increasing number of music festivals. These festivals attract a large number of attendees and offer a diverse lineup of artists, catering to various music genres and tastes. Music festivals create a unique atmosphere, bringing together music lovers in a shared space where they can enjoy multiple performances over a few days. This trend reflects the desire for a more immersive and multi-dimensional music experience. Another trend in the market is the growing popularity of international artists performing in Turkey. This trend is driven by the increasing global recognition of Turkish music market and the country's vibrant music scene. International artists are now including Turkey as a stop on their world tours, attracting a wider audience and contributing to the growth of the Music Events market. This trend also highlights the cultural exchange happening in the music industry, as artists from different countries collaborate and perform together.

Local special circumstances: Turkey's unique geographical location, straddling Europe and Asia, makes it an attractive destination for artists and music events. The country serves as a bridge between different cultures and music traditions, creating a rich and diverse music scene. Turkish audiences are open to different music genres and styles, making it a welcoming environment for both local and international artists. The local music industry also plays a significant role in supporting and promoting music events, with a strong network of venues, promoters, and music festivals.

Underlying macroeconomic factors: The growing Music Events market in Turkey can be attributed to several underlying macroeconomic factors. The country's overall economic growth and rising disposable incomes have contributed to increased spending on entertainment and leisure activities. As more people have the means to attend music events, the demand for such experiences has naturally increased. Additionally, the government's efforts to promote tourism and cultural events have also played a role in attracting international artists and boosting the Music Events market in Turkey. In conclusion, the Music Events market in Turkey is experiencing growth and development due to customer preferences for live performances, the increasing number of music festivals, the popularity of international artists, the country's unique cultural scene, and underlying macroeconomic factors. As the market continues to evolve, it is expected that the demand for music events in Turkey will continue to grow, offering a wide range of opportunities for artists, promoters, and music enthusiasts alike.

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.